Companies need cyber security to keep their data, finances, and intellectual property safe. But they can’t always afford the same measures when running an advertising business, according to a new report from security research firm White Ops.
According to the study, published Thursday, the average cost of a web application firewall in the US is $29,000 up from $26,500 just six months ago. This figure has nearly doubled since 2008, the research found.
Although it’s just one item on a security checklist, costing a small business’s bottom line isn’t necessarily a bad thing. When a business determines that it needs better protection from hackers, it’s much easier to justify the budget, and just like that, they’ll be able to finance different security systems from companies like Fortinet.
But the high cost of security is creating a dilemma for brands that depend on it, White Ops says. “The burden of sustaining security risk management policies requires at least an initial investment and consequent growth and often more,” wrote Adam Manning, an independent security researcher and author of the report.
The finding comes at an interesting time for digital marketing. At the start of the year, Amazon began advertising its Cloud Security Program, which gives businesses free access to security monitoring services. And Google’s recent changes to its software infrastructure makes it much more difficult for malware to spread.
Meanwhile, vendors like Spamhaus have launched new initiatives that use a similar paradigm of cost-effective security as a way to help companies make good on their cybersecurity bets.
The high cost of maintaining an online security system isn’t just an issue for website owners. It can also be an inconvenience for those who work for the business. And for employees who might have to spend more time worrying about security, it can also mean more time off from work.
Businesses also stand to lose out from a policy that requires higher administrative overhead. “Cost to maintain an online attack management policy is greater than the cost of a full-time web developer,” Manning said.
It’s important to note that hackers are more likely to attack online accounts protected with systems like one-time passwords, default emails, and simple security measures. Hackers also often target smaller businesses that don’t have the resources to manage up.
Luckily, one-time passwords are easy to set, and by implementing them, a business can protect its employees. And most security-related items like email and instant messages are effectively automatic.
It’s worth noting that White Ops estimates that 10% of businesses pay the cost of every security measure they implement an average of $2,400. At the other end of the spectrum, the number of businesses that don’t even keep an eye on the cost of their security strategies: 35%.
Still, the study also suggests that spending on security isn’t just a business-related burden. It can also have a big impact on the way a business operates and does business. “In some instances, businesses could improve their bottom line by creating an emphasis on maintaining online security,” Manning said.
