7 Strategies to Communicate Cybersecurity's Business Value

According to Evanta’s annual CIO Leadership Perspective Survey, which gathered insights from over 2,100 CIOs, cybersecurity strategies is their top priority for the third consecutive year. As such, this topic has been a focal point during our CIO community programs in 2024.

Recently, Damiano Marabelli, Italy CIO - Head of ICT, Digital Roadmaps and Data Protection at Rodenstock and Italy CIO Community Member, participated in a Town Hall with his peers to discuss how to communicate cybersecurity’s business value to protect the enterprise. In this executive blog, Damiano shares the key takeaways from his insightful conversations and outlines seven considerations for technology and security leaders to effectively communicate cybersecurity to decision-makers.
 

In today's interconnected world, where digital technologies influence every interaction, transaction, and operation, cybersecurity has evolved from a back-office concern to a top priority in the boardroom. Despite its growing importance, one question often remains: How do we communicate the business value of cybersecurity in a way that resonates with decision-makers?

Here are seven considerations to support your progress in this area.

1. Cybersecurity: A Business Enabler, Not Just a Cost

Let's begin by shifting our perspective. Cybersecurity isn't merely about guarding data or preventing breaches; it's about enabling our business to operate confidently and seize new opportunities. When we invest in cybersecurity, we are investing in our ability to deliver value to customers without interruptions or compromises. It's the foundation of every digital transaction, customer interaction, and innovative project. 

During my tenure as CIO of Coca-Cola Central-Eastern Europe BU, the largest business unit outside the USA, I collaborated closely with the Tel Aviv Innovation Hub in Israel. This experience demonstrated the power of adopting a radical and flexible approach to cybersecurity — the only way to address threats that evolve daily. By working with startups and tech innovators, we stayed ahead of emerging risks and drove business growth.

1. Protecting Financial Assets and Reducing Risk

Consider this: the average cost of a data breach can run into millions, not to mention hidden costs like reputational damage, regulatory fines, and lost productivity. Cyber threats such as phishing attacks, ransomware, and zero-day exploits are becoming more sophisticated every day. By proactively investing in cybersecurity measures aligned with industry standards like ISO/IEC 27001, the NIST Cybersecurity Framework, and compliance regulations such as GDPR and PCI DSS, we are not just preventing a single breach; we are mitigating numerous financial risks. Every dollar spent on security is a dollar saved from potential losses and a dollar earned in brand trust.

1. Supporting Innovation and Secure Growth

In a world where digital transformation is key to staying competitive, cybersecurity is essential for innovation. Technologies like cloud computing, the Internet of Things (IoT), and Artificial Intelligence (AI) offer exponential growth opportunities but also introduce new vulnerabilities. Imagine developing cutting-edge solutions or entering new markets, only to be held back by weak security. 

By integrating cybersecurity into our business strategies and adopting best practices like secure software development lifecycles (SDLC) and continuous monitoring, we create a secure environment that fosters exponential growth. A strong cybersecurity foundation doesn't just protect our innovations; it accelerates them, allowing us to scale securely and efficiently.

1. Embracing Fresh Perspectives in Cybersecurity Strategy

An important takeaway from a McKinsey internal audit we had at Coca-Cola was the recommendation to change our cybersecurity partners every 2-3 years. This approach ensures a radical refresh of the critical thinking behind our cybersecurity strategy. By bringing in new partners, we inject fresh ideas and perspectives, helping us stay ahead of evolving threats and challenging the status quo. It prevents complacency and keeps our defenses agile and adaptable.

1. Building Trust with Stakeholders

Trust is the cornerstone of our relationships with clients, partners, and regulators. Every security measure we implement — be it multi-factor authentication, encryption protocols like TLS/SSL, or adherence to data protection regulations — communicates to our stakeholders that their data, privacy, and business are safe with us. Communicating this isn't just about mentioning firewalls and antivirus software; it's about demonstrating how cybersecurity strengthens our brand and builds loyalty. When stakeholders see our commitment to security, they are more likely to choose and remain with us.
 

1. Being Resilient: Responding to Evolving Threats and Ensuring Continuity

We can't overlook resilience. In an age where threats evolve daily — with attackers employing techniques like advanced persistent threats (APTs), social engineering and distributed denial-of-service (DDoS) attacks — cybersecurity isn't a one-time effort but a continuous process of vigilance and response. Implementing incident response plans, regular penetration testing and employee awareness training ensures that we can face disruptions, adapt, and continue to serve our customers. By investing in cybersecurity, we're not just protecting assets; we're ensuring that no matter what comes our way, we're prepared to respond, recover, and move forward stronger than before.

1. Cybersecurity is Everyone's Responsibility

Finally, I want to emphasize a crucial point: cybersecurity is a team effort. Each of us plays a role in protecting our organization. From frontline employees who handle sensitive data daily to our leaders making strategic decisions, cybersecurity should be part of our culture. Embracing frameworks like the Cybersecurity Maturity Model Certification (CMMC) can help us integrate security practices across all levels. Together, by adopting secure behaviors — like recognizing phishing attempts, using strong passwords and following data handling protocols — we're not just protecting systems and data; we're building a legacy of security and trust for future generations of employees, customers and partners.
 

In conclusion, communicating the value of cybersecurity means telling a story that decision-makers, employees, and stakeholders can understand and support. Cybersecurity isn't just an expense; it's a strategic enabler, a risk reducer, and a resilience builder. By adhering to recognized standards, staying vigilant against major attack techniques, and embracing fresh perspectives in our strategies, we create an environment where exponential growth is not only possible but sustainable and secure.

To learn more from your technology and security peers and participate in discussions on topics like cybersecurity and more, find your local Evanta Community and join today. If you are already a member of an Evanta community, check out MyEvanta to view upcoming opportunities to collaborate in-person and virtually with your C-level peers.