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Why GRC is now crucial to prioritising security budgets
- Governance, risk and compliance (GRC) frameworks are crucial for businesses to prioritize cybersecurity investments, as highlighted at the recent CyberSecure Summit in Sydney.
- Canary IT emphasizes the importance of GRC in aligning security budgets with business goals to prevent overspending.
- GRC ensures that companies identify risks, create IT roadmaps, and meet compliance requirements efficiently and cost-effectively.
- According to Tom Freer of Canary IT, GRC can lead to outcomes beyond cybersecurity, improving operational efficiency and decision-making.
- Understanding the 'why' behind security investments is crucial to ensure alignment with business needs.
- It's essential to know the reason for securing your business, whether for compliance, protecting IP, meeting client demands, or regulatory needs.
- Before implementing security solutions, it is recommended to understand industry-specific frameworks like CPS-234 or ISO 27001.
- Adopting cybersecurity frameworks like NIST, CIS, and Zero Trust helps strengthen defenses and meet regulatory requirements.
- Microsoft Purview Compliance Manager simplifies compliance by aiding organizations in choosing the right framework and assessing risks.
- Canary IT focuses on six key areas in their GRC-driven security program, including alignment with business objectives, compliance management, and incident response.
- Security and governance require continual assessment and review to mitigate cyber risks effectively.
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