Cybersecurity: a long term sucess for businesses
Laurent Celerier
EVP Central Europe & International Business
In today’s rapidly evolving digital landscape, the importance of cybersecurity cannot be overstated.
In an insightful article, Laurent Celerier shares his view on how a company's cybersecurity posture is now a critical indicator of its overall health and longevity. This shift is particularly pronounced in the context of increasing scrutiny from investors and regulatory bodies, making cybersecurity a non-negotiable aspect of business strategy.
The new standard for corporate health
As companies navigate the complexities of the modern economy, investors are demanding greater transparency regarding extra-financial performance. This includes not only environmental and social governance (ESG) factors but also cybersecurity metrics. For companies listed on the Paris Stock Exchange, demonstrating robust cybersecurity practices is becoming integral to showcasing resilience and attractiveness to investors.
On the other side of the Atlantic, the U.S. Securities and Exchange Commission (SEC) has further highlighted this trend. By requiring companies to disclose information about cyber incidents and their risk management frameworks, the SEC is reinforcing the notion that cybersecurity is a fundamental component of corporate governance. The chairman’s statement comparing the loss of data to a factory fire underscores the material impact that cybersecurity breaches can have on a company’s financial standing.
Protecting the future
A strong cybersecurity framework reflects a company’s overall capacity for digital transformation. It indicates that management is not only aware of potential risks but also actively working to mitigate them. Companies that excel in this area are better positioned to protect critical assets, such as intellectual property and customer data, which in turn safeguards their relationships with stakeholders.
Moreover, a well-implemented cybersecurity strategy is indicative of a company’s commitment to long-term sustainability. Investing in cybersecurity is not merely a defensive measure; it signals to employees, customers, and investors alike that the organization is forward-thinking and dedicated to safeguarding its future.
Attracting talent in a competitive market
In an era where skilled cybersecurity professionals are in high demand—predicted to reach a shortfall of 3.5 million jobs by 2025—a company’s cybersecurity posture can significantly influence its ability to attract and retain top talent. Organizations that prioritize cybersecurity are often viewed as more desirable employers, demonstrating a commitment to employee safety and corporate responsibility.
Conversely, companies with inadequate cybersecurity measures may find themselves at a disadvantage, raising red flags about their operational integrity and ethical standing. This disparity can have far-reaching implications for recruitment and retention, further solidifying the link between cybersecurity maturity and overall business health.
Measuring cybersecurity performance
To assess cybersecurity maturity, companies can utilize various tools, ranging from comprehensive audits aligned with international frameworks like NIST, ISO, or SOC2, to lighter self-assessments or automated scans. A key metric to consider is the allocation of IT budgets; spending less than 5% on cybersecurity could indicate vulnerabilities, while investing over 10% suggests a proactive stance that could offer a competitive edge.
To conclude
The landscape of business is evolving, and cybersecurity is firmly at its core. As companies strive for long-term viability, the ability to demonstrate a high level of cybersecurity maturity will be essential. Not only does it reflect a company's financial solidity and structured transformation capabilities, but it also showcases the commitment of its workforce.
As we move forward, organizations must recognize that investing in cybersecurity is not just about protecting data; it’s about securing their future, fostering trust, and ensuring that they remain viable in an increasingly digital world. In this new paradigm, a secure company truly is a company that lasts.