Be your cfos best friend

The only ways I know to get information on fees is:

Be your cfos best friend

As the CFO of a cloud technology provider, I like to speak about finance and cybersecurity, two topics entirely capable of putting my dinner guests to sleep. Good cybersecurity is expensive, and bad cybersecurity is, well… even more expensive.

If you are not a cybergeek, it can be very difficult to tell the difference between the good stuff and the bad stuff, until something bad happens. Allow me to explain what information CFOs are looking for before they write the check. This Be your cfos best friend not to say that all of the bells and whistles included in these offerings are not potentially useful and protective, but without a fully qualified pilot in the cockpit to operate and navigate all of the functionality, much of it ends up unused, or worse yet misused, resulting in false positives and corresponding organizational inefficiencies.

CFOs would rather see fewer CapEx dollars spent on cyber investments, offset by more dollars spent on qualified professionals and organizational structure to manage those investments. Ultimately, this will yield a higher ROI. Understand that your CFO looks at cybersecurity spending like corporate insurance Cybersecurity investments often behave in a similar way to corporate insurance policies, although I think we can agree that these days we are much more likely to have a data breach than a fire or earthquake.

Just like with insurance, cyber investments are money spent to protect against an unlikely-to-happen threat. When we buy insurance, we make trade-off decisions because to completely insure our business against every event would cost us more than we make in revenue.

So we must be selective. CFOs look at cyber spending as they do insurance, which is to say probabilistically. Your CFO wants you to identify different types of cyber investments that might cover the same risks, or even be covered by implementing better policy.

The already crowded space of vendors selling fear grows larger every day.

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Many of the technologies they are selling overlap with other technology that may already be in place. Provide the CFO with a protocol for purchasing cyber defenses that follow a standard for the who, what, why, where, how, and how much for every solution you recommend.

More and more companies are spending significant dollars to protect against hackers.


Much like being a non-smoker may reduce your health insurance premiums, so should having a a robust cybersecurity program reduce your corporate premiums. Many people think that cybersecurity is a bunch of expensive appliances and intrusion detection software, and sometimes this is true.

But the biggest mistake that firms make is to invest in these tools and then let them sit exclusively under the purview of the technology team, or worse yet, installed with no hands-on management at all.

While these tools generally have a passive role, scanning or waiting for an event before leaping into action, the data that they analyze can be extremely useful to other areas of your company — if translated, summarized and communicated to the right people.

An example of this is web filtering through an advanced firewall. Ostensibly, the purpose is to prevent employees from accessing sites with malicious potential.Q: Based on your research and analysis, what are the top risks that CFOs should be monitoring in the global markets right now?

Brexit presents a systemic risk to the global financial system because of the impact it has on the global markets.

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Hi Basil, What happens if I own the startup company and the company interested in buying my company approaches me? Who pays the M&A consultant fees then, assuming there even IS an third-part M&A person involved?

Be your cfos best friend

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