Many companies have made progress to protect themselves, but less than half of survey respondents have a plan in place to address a security breach. The risks of cyberattacks are significant: lost revenues due to unauthorized use of information systems; litigation costs, and reputational damages that adversely effect customer and investor confidence.

According to an article published by Kelly Bissell in the March 2013 edition of Financial Executive, "A Strategic Approach to Cybersecurity", the most important steps to initiate are:

1. Stay informed about cyberthreat activity, and understand its risks.

2. Make a C-level executive responsible for cybersecurity with the necessary resources.

3. Require routine meetings and updates with continuous monitoring and internal controls.

4. Track current and potential cybersecurity legislation and regulation with any impacts to the business.

These steps are a beginning to a very complex and ever-changing environment. Designing a strategy must include industry and company specific information, analysis and implementation. Better to begin now and avoid costly ramifications.


Joel Lesser is a CFO who makes decisions - with his own brand of diligence, integrity and thoughtfulness - that ensure reliable foundations on which businesses and talent may grow.
Acutely aware of the domino effect of change, he constantly asks himself, “Are we not only doing it right, but also are we doing the right thing?”
www.joellesser.com/blog_index.html