How much are your assets worth?

How much are your assets worth?

A different question could actually be what is the value of your assets.

One problem in the cybersecurity space is putting value to your assets.

The value of your crown jewels

There are two reasons.

1 – Do you know what your assets are – Identification.

An asset can be a number of things.

It can be the people inside the organisation.

The salesperson who brings in 50% of the company revenue, the CEO who delivered a keynote at a conference or it can be the receptionist who has a system that controls the business but no one else knows about it.

It can be the information you collect and manage.

It can be your CRM or it could be your accounting system.

It can be the property you own.

The physical premise, your intellectual property, your software, your tools or anything that you leverage to produce your products and services

It can be your reputation or brand.

It can be your brand,  what people think of your brand and what you are doing to ensure that you do everything ethically and properly.

2 – How valuable are they to the business.

Most of the assets have some level of financial impact on the business.

When everything is running like a well-oiled system it is hard to define where and what is doing the heavy lifting for the business.

Yes you have your bean counters with profit and loss statements and the LAPS

When you remove some of the assets you suddenly understand that they are all working in tandem to create the perfect system.

Here are a couple of questions you should be asking

Can you afford to have all of your staff sitting around for more than 10 days while you sort out a malware attack?

Can your organisation survive for 2 weeks without any income from sales and service if your point of sale system failed?

Can your reputation handle telling all of your inquiries that you cannot do anything because you have been hacked?

Can your reputation handle the impact of emailing all of your customers and clients that you have been breached?

Can your finances handle the $40K to $60K governance and compliance fines that will come shortly after a breach?

Now tell me you do not have the money to invest right now to protect yourself from these problems

Roger Smith, is an educator. Teaching students at ADFA (UNSW) and showing them how vulnerable they are to cybercrime.

He is also CEO at R & I ICT Consulting Services Pty Ltd, an Amazon #1 author on Cybercrime and founder of the SME Security Framework. He is a Consultant who specialises in inexpensive and highly effective security strategies for small and medium businesses and not for profit organisations.

He has developed and authored the SME Security Framework and the Security Policy Training Course which are considered to be the definitive guides to helping SME's protect their organisation using the principles of Technology, Management, Adaptability and Compliance.