Why Cyber Security Should Form Part of Your 2023 Budget

Kurt Schrauwen
Kurt Schrauwen

Riela Cyber Director

As we start the New Year, it is reassuring to think about just how far cyber security has come in terms of it becoming a more mainstream topic of conversation. By now, most people know what cyber security is and have a general idea of the consequences. Statistics regarding cyber threats and attacks are frightening. Cyber crime has skyrocketed with millions affected, billions in losses and trillions in spending.

Business leaders can no longer ignore the uncomfortable truth: It has become impossible to sit at the head of a company and not address the threat of cyber risk. Despite this truth, many business leaders choose to ignore the threat. Instead of implementing a cyber security strategy, many will pin their hopes on their IT team with no real discussion on what this means or oversight into understanding the risks or threats existing within the environment. 

The Responsibility of Cyber Security Should Not Fall on the IT Team

From my experience, this conflict is usually faced due to the misinterpretation of what the IT function encompasses. Although providing secure technologies and environment hardening is a fundamental role of any successful IT function, this does not extend to proactive threat hunting, mitigation, reporting or employee training. It is too much responsibility for one staff member or team to handle both IT and cyber security without adequate training in this specialist area.

Protecting your business starts by realising the value of your data and reputation and then including this into your annual budget. 

How Should You Determine Your Cyber Security Budget?

The key pillar of cyber security is visibility, in this instance an external audit of your estate to highlight all risks and ascertain what needs to be protected is imperative. The audit should also include how prepared your company is in the event of a cyber incident and whether the most important parts of the business can be recovered. 

Based on this information, it will be possible to determine the areas which require investment, and which need to be prioritised. The following factors will influence your spending: 

  • Size of company 
  • Sensitivity of your data 
  • Complexity of your IT infrastructure 
  • Remote working 
  • Age of systems and technology 
  • Laws and regulatory requirements 

Cyber security is a ‘proactive cost’, you will not see immediate return but it is important to remember that preventing a cyber attack is significantly cheaper than recovering from one. Furthermore, cyber security doesn’t have to be expensive, with many solutions designed to suit different needs and budgets. Even small, low-cost changes such as employee cyber security training with security-culture changes can go a long way to reducing your risk.

Security spending is, in the end, an exercise in risk management.   

Questions to Consider

Security spending is, in the end, an exercise in risk management.   

Consider the following questions:  

  • Are you addressing low risks at a higher cost than necessary, or are you addressing high risks at the lowest possible cost?  
  • Are you making the best use of your available budget? 

If you would like help in finding a way to make cyber security work for your 2023 budget, contact our engineers here or drop me a message on LinkedIn and I would be happy to help.

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Kurt Schrauwen

kurt SCHRAUWEN

Director

Kurt Schrauwen is a Director of the Riela Group of companies which includes Riela Yachts, Riela Cyber and Riela Tech. 

Kurt brings more than 20 years of leadership experience having been an early part of the global success of Microgaming in becoming a market leader. Kurt was responsible for the commercial, contractual, and technical sales for Microgaming and with this experience will complement the company’s growth strategy.

Kurt is passionate about business optimisation and prides himself in having an intrapreneurial outlook to maximise staff potential, reduce inefficiencies as well as identifying and maturing revenue growth opportunities.

Paul Cocker

Service Delivery Coordinator

Paul Cocker joined the Riela Group in late 2021, after spending just under 20 years with his previous employer.

Paul is responsible for the Riela Tech service levels, working on both the dispatch function and SLA management. Paul carries out a variety of duties across the Network Operations Centre and works closely across the wider team to deliver professionally tailored solutions for our Riela Tech clients.

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Murat Guner

Infrastructure Engineer

Murat Guner joined the Riela Group in the Summer of 2021 as an Infrastructure Engineer.

Murat began his career in Turkey as a computer teacher for primary and secondary schools before migrating his skills into IT infrastructure. After honing his IT experiences throughout a colourful career path, Murat gained numerous qualifications which he is now excited to apply to the management of our Riela Tech infrastructure.

Andrew Clucas

Senior Network Engineer

Andy is a qualified Network Engineer with in-depth knowledge of architecting, implementing and supporting networking solutions in the SMB, Enterprise and Service Provider environments.

He has over 20 years of experience working across multiple vendor operating systems, including Cisco, Juniper, Linux and Microsoft, and has also been responsible for implementing a variety of large scale network services deployments, taking projects from design to rollout and support.

Andy also has experience of deploying and migrating a range of virtualisation technologies including VMWare, Hyper-V and KVM based systems.

Marc Dorey

Infrastructure & Managed Services Lead

Marc is our Group’s Infrastructure and Managed Services lead with over 18 years’ experience in delivering infrastructure projects across multiple industry verticals and international jurisdictions.  From projects in Aerospace and Engineering through to Banking and Insurance, from Europe, China, Africa and Australia.

This experience is matched with a varied list of certifications from leading industry vendors such as Hp, Cisco, Microsoft, Ruckus, CompTIA and more.  As a qualified technical trainer Marc is comfortably able to take complicated technical concepts and deliver them in simplistic terms to key decision makers and end users alike.

Most of Marc’s experience has been gained working for managed service providers, both large and niche and as such is able to take real world experience and blend it with industry standards to help align our service delivery with our clients values and processes.

Alexandria halsall

Marketing Executive

As a Marketing Executive, Alex is responsible for all marketing duties spanning the Riela Group.

Alex joined the Riela Group in August 2020, shortly after graduating with a Psychology degree from Nottingham Trent University.

With past work experience in content marketing, event management and web design, Alex is able to apply her creative and analytical skills into the Riela strategy.

Matthew Roberts

Head of Sales

As the Head of Group Sales at the Riela family of companies, Matthew leads the company’s sales strategy, execution, and growth.

Matthew has a successful record building trusted client relationship and delivering upon set expectations. An accomplished sales leader, he delivers a sales process that provides clients with the information and support they need to make the right decisions for their organisations and their constituents.

Matthew has significant experience within the maritime industry having previously worked across various sectors including insurance, security, satellite communications and managed IT. Matthew’s most recent experience encompasses almost 5 years spent with the leading satellite communications and managed IT provider in the maritime industry, focusing on their superyacht clientele.

Christian Goelz Riela Cyber

christian goelz

Director

Christian is involved across the Riela family of companies with particular attention to the technology businesses, Cyber and Tech.

Christian gained a postgraduate Master in Finance degree at the University of Neuchatel, Switzerland and completed his MBA at the University of Chicago Booth School of Business.

Before joining us, Christian worked for six years at Argosy Capital, an Isle of Man-based private equity and venture capital business focusing on early-stage growth businesses. At Argosy, he focused on managing investment companies, research and financial analysis and served as a director on several boards.

ROBERT TOBIN

Riela Group Managing Director

Robert Tobin is the Managing Director of the Riela Group of Companies and is responsible in overseeing our business operations, our people and driving excellence in all we do.

Rob brings over 25 years’ of successful leadership and entrepreneurial experience across a range of industries including Family Office, corporate services, construction engineering, Superyachts, cyber security and information technology development to our Group, and to our customers.

In the past 15 years Rob has gained a prominent reputation within the Superyacht industry for his passion, integrity, innovation and achievements to date.

“Being part of an awesome, capable and forward thinking team that have a shared passion for Superyachts, people and the environment is the highlight of my career and puts a smile on my face and a spring in my step everyday”.

Peter Astell Burt

Director

Peter is an experienced technology consultant with a demonstrated history of working in the IT and cyber security industry.  Skilled in Search Engine Optimization (SEO), IT Strategy, Start-ups, Regulations, and Online Gaming. Strong consulting professional with a DPhil focused in Natural Sciences from ChristChurch, Oxford.

Tim Bliss

Tim Bliss

Founder

Tim Bliss, Managing Director of Riela Tech since the company foundation in 2015 and Director of Riela Cyber, brings over 20 years’ of successful leadership experience across a range of industries including finance and banking, software development, and manufacturing, as well as cyber security and information technology. Prior to forming the company he led the technology for Manx Financial Group PLC, where he was instrumental in business systems transformation.

“It is our hugely capable team of experts that drives our business – it is fantastic and rewarding to be able to use technology, intelligence, and great customer service to help make our clients’ business and staff progressively more efficient resilient and secure”