Enabling Cybersecurity for Small and Medium Businesses – The Rise of the fCISO
Sadly, SMBs cannot afford an experienced full-time CISO. They often either ignore the risks or get lured into purchasing shiny tools that do not meet their overall needs. Before spending money on security solutions, it's crucial to understand the risks and develop clear objectives that support the overall business goals.
This is the role of a CISO: to set the direction and establish cybersecurity program foundations that will meet the expectations of the Board and C-suite.
However, there are not enough CISOs to go around which creates a high premium on their time. Hiring a CISO can cost hundreds of thousands of dollars, which is far beyond what most SMBs are willing to commit. But they don’t actually need a full-time CISO. An hour or two may be perfect for guidance, leadership, and strategy development. This is where the fractional CISOs community can play a role!
Experienced CISOs often have a few hours extra per week and yearn to take on new challenges, as long as it does not impact their day job. Many retiring CISOs still have the itch to contribute, but don’t want to commit the long hours of managing all the operations and details. They would rather leverage their experience to provide guidance and help organizations avoid costly pitfalls.
It becomes a perfect fit.
Experienced leaders offer guidance at a fraction of the cost, with short-term contracts keeping commitments flexible. Everyone wins.
Fractional CISOs can provide leadership without being tied to the demanding operational aspects. By dedicating a few hours a week, fCISOs help SMBs benefit from experienced cyber risk leadership with direction, focus, and an understanding of the evolving risks. SMBs can then make informed business decisions that properly account for cybersecurity factors. The practical benefits include effective prioritization and efficient allocation of resources for an optimized cybersecurity posture, based upon their unique needs.
There are risks in the fCISO market. Two things to watch out for:
First, beware of fCISO services offered by security vendors masquerading as impartial advisors. In many cases, this is just a ploy to get customers to buy the parent company’s products or services. These people are effectively used as a sales channel and incentivized to convince SMBs to purchase their wares. They aren’t necessarily looking out for their clients’ best interests. Instead, seek out vendor-agnostic fCISOs that will work with what you have and align recommendations to your actual needs.
Second, many will assert themselves as seasoned cybersecurity leaders, but in actuality, lack the practical experience needed to be a successful fCISO. Let’s be clear, a fCISO is NOT an entry-level job. Rather it is the opposite.
An experienced cybersecurity leader can quickly understand the major risks and business needs, develop a customized set of strategic plans for a specific organization, and communicate effectively to executives so they may rapidly understand and make well-informed decisions. fCISOs must be vetted properly to make sure they can deliver quality results in very limited timeframes. Otherwise, it will be money wasted!
If you are interested in exploring how fCISOs can help businesses, sectors, or various audiences, reach out to me directly or visit my website. We must purposefully work to support the SMB community. Let's join forces to make this year a turning point in fortifying SMBs and bolstering their digital security and competitiveness!
Matthew Rosenquist
www.cybersecurityinsights.us
