Source URL: https://anchore.com/blog/from-cost-center-to-revenue-driver-how-compliance-became-securitys-best-friend/
Source: Anchore
Title: From Cost Center to Revenue Driver: How Compliance Became Security’s Best Friend
Feedly Summary: An exclusive look at insights from the ITGRC Forum’s latest webinar on demonstrating the value of cybersecurity investments. Three cybersecurity veterans with a combined 80+ years of experience recently gathered for a Forum webinar that challenged everything we thought we knew about the funding of enterprise security investments. The central revelation? Compliance isn’t just regulatory […]
The post From Cost Center to Revenue Driver: How Compliance Became Security’s Best Friend appeared first on Anchore.
AI Summary and Description: Yes
Summary: The text discusses insights from an ITGRC Forum webinar featuring experienced cybersecurity professionals who emphasize the role of compliance as a driving force for security investment in organizations. The discussion covers how regulatory requirements have evolved to not only impose penalties but also serve as business enablers, thereby changing the funding landscape for security initiatives.
Detailed Description:
The webinar featured esteemed panelists with extensive backgrounds in cybersecurity, focusing on the evolving relationship between compliance and security investments. Key points discussed include:
– **Compliance as a Business Enabler**:
– Modern compliance frameworks have transformed from merely regulatory burdens to essential business requirements, aligning security budgets with organizational goals.
– Penalties associated with non-compliance create a compelling business rationale for funding security initiatives, as organizations risk incurring losses by failing to meet requirements.
– **Software Supply Chain Compliance Revolution**:
– The importance of Software Bill of Materials (SBOM) mandates: These increase visibility across the software supply chain, enabling organizations to quickly identify vulnerabilities, such as the Log4j incident.
– **Fragmented Compliance Costs**:
– The operational disruption caused by manual compliance processes costs organizations significantly; skilled staff are diverted from strategic initiatives due to excessive time spent on compliance-related tasks.
– **Evolving GRC Platforms**:
– Governance, Risk Management, and Compliance (GRC) platforms are transforming into sophisticated business intelligence systems that facilitate executive-level risk assessments using diverse data sources.
– **Cultural and Operational Integration**:
– The integration of security and compliance functions offers shared objectives that support broader business goals. This collaboration can help security teams gain necessary funding and executive support.
– **Future Trends**:
– Insights into regulatory proliferation and automation imperatives for continuous compliance monitoring illustrate the evolving landscape faced by security and GRC professionals.
– **Audience Engagement**:
– The discussion included audience poll insights, highlighting the current state of compliance cost calculations among organizations.
The potential for transforming security into a cost-saving business driver through compliance alignment is significant for security professionals, indicating a shift towards a more strategic role within enterprises. The emphasis on practical insights gleaned from the webinar positions this discussion as crucial for organizations looking to align security with business priorities, thereby enhancing both compliance and overall security effectiveness.
Overall, this event illustrates a critical transition in the security landscape, emphasizing compliance not merely as a regulatory obligation but as an avenue for securing operational funding and integrating security within the broader business strategy.