Speed is critical to maintaining a competitive edge. No more so than in technology.
However, slow security processes can significantly hinder this momentum, leading to a cascade of negative outcomes. For technology businesses, particularly those in product development and cloud services, sluggish security’s effects can be profound.
When these hidden risks manifest as critical Engineers (or developers) are often key to the growth plans of a technology business. These professionals thrive on innovation and rapid iteration, aiming to bring new features and improvements to market quickly. When security protocols are cumbersome or slow, it disrupts their workflow, leading to delays and reduced productivity. Frustrated teams can result in lower morale, higher turnover rates, and a stifling of the creative process that drives technological advancement.
Security is often associated with excessive internal bureaucracy and red tape. When security measures are bogged down by too many approval layers and procedural complexities, it creates an environment where agility is sacrificed for compliance. Overly bureaucratic processes can lead to a culture of inertia, where decision-making is slow, and the ability to pivot quickly in response to new threats or opportunities is compromised. Ultimately, your customers will perceive this and act accordingly.
Slow security processes lead to a muddled view of the risks facing the organisation. When security assessments and threat analyses are not conducted efficiently, it becomes challenging to maintain a clear and up-to-date understanding of risk – by the time an approval is issued, the reality has already changed – something that repeats and compounds, reducing the value of security. This lack of clarity can result in inadequate risk management strategies, leaving the business vulnerable to threats that could have been mitigated with a more agile approach.
In today’s digital age, reputation is everything. Slow security processes that lead to product delays, security breaches, or non-compliance can severely damage reputation. Customers expect fast, reliable, and secure products. Any indication that a company is struggling to meet these expectations will erode trust and loyalty, making it difficult to retain existing customers and attract new ones.
For technology businesses, the challenges posed by slow security processes are multifaceted and far-reaching. Take action now to ensure your security processes are an enabler, not a hindrance.
Technology and cloud businesses must navigate an increasingly complex regulatory environment. Hidden cybersecurity risks that lead to data breaches or non-compliance can attract stringent regulatory scrutiny. Fines and penalties for failing to comply with data privacy regulations such as GDPR or the UK’s Data Protection Act can be substantial and are well-known, however other applicable regulations such as HIPAA, EU NIS, EU CRA or DORA can be equally consequential.
It’s not just about fines, either: non-compliance can trigger mandatory disclosures and audits, which can be both time-consuming and costly, and harm the trust of existing customers and jeopardise sales opportunities.
The ultimate consequence of slow security processes is delayed product releases. In an industry where time-to-market can make or break a product’s success, delays are costly. Late releases can miss key market windows, allowing competitors to establish dominance and making it harder to gain traction with customers, affecting revenue projections and the trajectory of growth. They also increase technical debt, as unreleased code backs up in development thanks to a slower release cycle, pushing up engineering costs for the same features.
In today’s digital age, reputation is everything. Slow security processes that lead to product delays, security breaches, or non-compliance can severely damage reputation. Customers expect fast, reliable, and secure products. Any indication that a company is struggling to meet these expectations will erode trust and loyalty, making it difficult to retain existing customers and attract new ones.
For technology businesses, the challenges posed by slow security processes are multifaceted and far-reaching. Take action now to ensure your security processes are an enabler, not a hindrance.
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The Threatplane platform enables optimal security by enabling easy information sharing and minimising duplication between teams. Customers can sign up to create models that reflect their own systems and use these to understand security risks and enact improvements at pace.
