- Companies that experience data breaches face, on average, $4.35 million in consequential costs, demonstrating the importance of an effective cybersecurity response
- Small to medium-sized businesses (“SMBs”) generally find the costs of hiring full-time cybersecurity experts to be prohibitive, making it difficult for them to effectively protect themselves from potential cyber crimes
- Virtual chief information security officer (“vCISO”) services are filling the breach with expert cybersecurity consultancy provided on a contract basis that is far more affordable than a full-time hire
- Cybersecurity services and technology provider SideChannel Inc. provides vCISO consultancy as well as proprietary Enclave software that addresses access control needs through microsegmentation
- SideChannel recently reported that its solutions have resulted in 71 percent YOY revenue growth with vCISO-specific services rising 93 percent and recurring software & services growing 367 percent
The industry providing virtual chief information security officer (“vCISO”) services is positioned to grow, given that cybercrime is one of the fastest-growing crimes in the United States and that the average cost of a data breach is $4.35 million, but the cost of hiring a full-time staff CISO can itself run into the hundreds of thousands of dollars, a recent Forbes report notes (https://ibn.fm/1qTwi).
Virtual CISOs provide high-level security service as a consultancy contract without the need for committed staffing, offering a more affordable option. Cybersecurity services and technology provider SideChannel (OTCQB: SDCH) is demonstrating the popularity of vCISO solutions for…
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