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Cyberattacks are not just an IT problem, they impact your whole business. By 2021, cybercrime will cost the world $6 trillion annually, according to Cybersecurity Ventures’ 2019 Official Annual Cybercrime Report, up from $3 trillion in 2016 – so it’s crucial that organizations invest in security tools to safeguard their business health and operations.

Though most would argue that cybersecurity is essential, it is notoriously difficult to calculate a return on investment. Unless a business has just suffered a devastating attack, it’s difficult to justify the investment in security tools, and explain the costs savings and brand protection benefits of preventing a data breach or a malware attack.

Further, it’s challenging to calculate a true total cost of ownership (TCO) for security tools. Initially, there are the upfront costs of the security technology (software and/or hardware), plus the licensing fees. However, security tools that rely solely on detection carry a hefty hidden cost – thousands of security alerts that must be triaged every week, often costing millions in labor. As a result, even if the business provides the funding for cybersecurity tools, security operations center (SOC) teams are typically stretched to a breaking point, putting the business at risk.

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