In response to the new NIS2 requirements, AMA’s cybersecurity budget has seen a significant increase according to the company’s CISO, Antolini. The adjustments required are substantial, with investments being made to strengthen systems, ensure the appropriate staffing levels, and implement necessary procedures. The need for speedy reporting under NIS2 necessitates a dedicated team to manage these tasks effectively. Additionally, the focus on controlling the supply chain to prevent incidents places added pressure not only on the CIO and CISO but also on other departments such as procurement and tendering.
The financial burden of compliance with NIS2 is substantial and has a direct correlation with the size of the organization. The costs associated with achieving and maintaining compliance can range from €100,000 to €500,000 for smaller companies, and can climb up to €1 million for larger corporations. These costs are in addition to the standard expenditures related to IT security.
Antolini’s emphasis on the need for increased investments in cybersecurity underscores the importance of aligning with regulatory requirements to ensure data protection and prevent potential security breaches. The financial commitment required to meet these standards is not just a one-time expense but an ongoing obligation to safeguard sensitive information and maintain operational continuity.
Furthermore, the implementation of NIS2 brings to light the critical role that third-party vendors play in cybersecurity risk management. The monitoring and verification of these external partners add another layer of complexity and resource allocation to the compliance process. This collaborative approach to cybersecurity underscores the interconnected nature of digital ecosystems and the need for a comprehensive strategy to address potential vulnerabilities.
In conclusion, the financial implications of NIS2 compliance are substantial and require a strategic approach to budgeting and resource allocation. Antolini’s insights shed light on the challenges that organizations face in meeting regulatory standards while also emphasizing the need for proactive cybersecurity measures. By investing in the necessary tools, technologies, and personnel, companies can enhance their security posture and mitigate the risks associated with the evolving cybersecurity landscape.