Nobody is immune to a cyber attack. Nobody. Yet, despite countless headlines detailing entirely avoidable financial and reputational harms from attacks, companies still ignore vital aspects of cyber security when planning budgets and resources. The mindset of “Why pay today for something that might not happen tomorrow?” is common—but it's also dangerous.
At senhasegura, we promise “sleep tight, you’re safe” because we focus on sharing benefits and solutions, not reasons for alarm. This article is written to equip you with effective rationale, arguments, and solutions for including Privileged Access Management in your budget.
By carefully balancing these factors, organizations like yours can achieve a robust security posture that protects assets without breaking the bank. It's important to remember that cybersecurity is an ongoing process, and the balance between cost and risk is adjustable as your organization evolves.
Risk Assessment
The first step in evaluating budget implications is understanding the risks. David Muniz, a Cybersecurity Specialist at senhasegura with seven years of frontline experience, emphasizes that budget planning must begin with understanding where risks lie.
“Who has privileged access, who controls these accounts, and why is access granted?” Muniz advises asking these questions to “establish a baseline state of privileged access to identify your current posture, set target goals, and outline how to bridge any gaps.”
By starting with a comprehensive review of risk and privilege, organizations can better manage vulnerabilities and get a clear understanding of the financial scope of their cybersecurity needs.
The Value of Implementing PAM Solutions
PAM strengthens security by mitigating risks associated with privileged credentials, protecting against insider threats, and boosting regulatory compliance.
How? By offering advanced monitoring and response capabilities, and ensuring continuity even during cyber incidents.
Is there a financial cost to analyzing and mitigating these risks? Of course. But, balance that investment against the potential consequences of not implementing PAM: costly breaches, regulatory penalties, and operational inefficiencies.
Gartner, the well-known American technological research and consulting firm based in Stamford, Connecticut, emphasizes that managing privileged access manually is no longer feasible. Organizations require trustworthy, agile tools that automate processes, improve efficiency, and meet compliance requirements — like those provided by senhasegura.
ROI, Meet ROS
Reducing risk and avoiding costs are two key pillars of PAM’s Return on Investment – one might actually refer to it as your organization’s Return on Security. Lowering costs and improved efficiency? Any CFO will love that. Reduced downtime? Your CEO will appreciate that too. After all, business can’t stop.
senhasegura’s PAM solution delivers shorter audit times, faster incident response, reduced incident costs, and streamlined PAM management processes. This translates into not just a reduction of risk, but a gain in efficiency and an overall stronger security framework.
Don’t Sideline PAM!
PAM is a known key player in your cybersecurity strategy. The consequences of experiencing a breach go from bad to worse. And really, what’s the upside of skimping on PAM?
Companies that take a cavalier attitude toward PAM put themselves at major risk hoping to gain short-term cost savings. Imagine dealing with angry regulators, reputational damage, fines, and even costly downtime.
Companies that deprioritize PAM in favor of short-term savings expose themselves to insider threats, compliance failures, and the inefficiencies of manual processes.
The question isn’t whether you can afford PAM—it’s whether you can afford not to have it.
senhasegura’s Cost-Effective Approach
Marcus Scharra, Co-Founder and Co-CEO of senhasegura, explains that senhasegura “distinguishes itself with an all-in-one solution, one that is easily accessible via a centralized interface.” He goes on, “It is scalable to support growth, it is easy to deploy, it is user friendly, and it is affordable.”
Curious to learn how much your organization save? Try our PAM Savings Calculator.
Visibility and support are cornerstones of an effective PAM solution. "You cannot protect what you do not manage, and you cannot manage what you do not know," shares Scharra. “senhasegura connects with a wide range of assets, providing users with a unified source for managing privileged access. Strong customer support remains a critical differentiator, and we’re extremely proud of our award winning customer support team.”
Advice for CISOs and Security Leaders
Aligning security goals with business objectives is crucial – but this discussion goes beyond budget alone: understanding and prioritizing risk sources, investing in people, processes, and products, and emphasizing incident response planning are key steps to fostering a resilient cybersecurity posture.
What is all of that valuable infrastructure worth to your organization?
The simplest, most efficient path is to make PAM a priority in your budget. Again, it’s not just about security; it is about aligning business and security goals to protect your organization's path forward.