Cybersecurity maturity assessment

Finding the right Cybersecurity Maturity for Startups to Scaling businesses.

"A stich in time saves nine" this idiom applies to growing businesses from start-ups to scale-ups, enhancing cybersecurity maturity at every stage becomes crucial for safeguarding their growth and success in an increasingly digital world. Without these well-timed decisions, cybercrimes costed the world $9.5 trillion USD in 2024 and global cybercrime damage costs are expected to grow by 15% per year over the next two years, reaching to $10.5 trillion USD annually by 2025 (Forbes).

Cybersecurity maturity models are strategic frameworks that help assess an organization's resilience against to cyber threats at different scales and help to build a proactive approach to address evolving risks. These models offer a structured pathway for businesses to evaluate, enhance, and fortify their security posture. The maturity model can be used to benchmark an organization's cybersecurity program against the industry's best practises, understand where they fall on the cybersecurity maturity spectrum, and develop a roadmap for improvement.

Understanding the Cybersecurity Maturity frameworks.

As your organization grows and expands its digital presence, it also faces increasing cybersecurity challenges and risks. To manage these risks effectively, you will need to assess your current cybersecurity maturity and identify the gaps and opportunities for improvement. Cybersecurity maturity is the degree to which an organization has implemented and maintained cybersecurity policies, processes, and practices that are aligned with its business goals and risk appetite. By evaluating your cybersecurity maturity, you can:

• Benchmark your performance against industry standards and best practices.
• Prioritize your cybersecurity investments and initiatives.
• Demonstrate your commitment and accountability to stakeholders and regulators.
• Enhance your resilience and readiness to respond to cyber incidents.

There are several models and frameworks that can help you evaluate your cybersecurity maturity:

Capability Maturity Model Integration (CMMI) for Cybersecurity: Developed by the CMMI Institute, this model provides a structured framework to assess and improve cybersecurity capabilities across an organization. It covers five domains: governance, engineering, operations, resilience, and human capital. The model defines five levels of maturity, from initial to optimizing, based on the degree of process standardization and optimization.

National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF): Created by the US Department of Commerce, this framework is a voluntary set of guidelines and best practices to help organizations manage cybersecurity risks. It consists of three components: core, profile, and implementation.

The Core is the heart of the NIST CSF, providing a structured approach to managing cybersecurity risks through five key functions:

• Identify: This function focuses on understanding the organization’s environment to manage cybersecurity risk. It includes asset management, risk assessment, and governance.
• Protect: This function outlines safeguards necessary to ensure delivery of critical services. It encompasses access control, data security, and awareness training.
• Detect: This function aims to identify the occurrence of cybersecurity events in a timely manner. It includes continuous monitoring and detection processes.
• Respond: This function involves taking action regarding a detected cybersecurity incident. It includes response planning, analysis, and mitigation strategies.
• Recover: This function focuses on restoring services that were impaired due to a cybersecurity incident. It includes recovery planning and improvements based on lessons learned.

Profiles represent an organization’s alignment of its requirements, objectives, risk appetite, and resources against the desired outcomes defined in the Framework Core. By comparing a “Current Profile” with a “Target Profile” (the desired future state), organizations identify gaps in their cybersecurity controls and processes. This process allows to develop tailored actions for improvements based on specific organizational needs and priorities. Profiles can be adjusted over time as organizational goals evolve or as new threats emerge.

The Implementation Tiers describe the degree to which an organization’s cybersecurity risk management practices exhibit the characteristics outlined in the Framework. There are four tiers:

• Tier 1: Partial- Limited awareness of cybersecurity risks; organization ad hoc responses to the cybersecurity threats.
• Tier 2: Risk Informed- Organization has awareness and some processes to address cybersecurity risks but not fully integrated into organizational practices.
• Tier 3: Repeatable- Established processes are documented and integrated into the organization’s risk management practices.
• Tier 4: Adaptive- The organization adapts its cybersecurity practices based on lessons learned and evolving threats.

These tiers help organizations assess their current maturity level in terms of cybersecurity practices and make informed decisions about where to focus their efforts for improvement

Center for Internet Security (CIS) Controls: Developed by a community of experts from various sectors, this model is a prioritized set of actions to protect organizations from cyber threats. It consists of 20 controls that cover basic, foundational, and organizational aspects of cybersecurity, such as inventory and control of hardware and software, secure configuration, email and web browser protection, data recovery, security awareness, and incident response. The model also provides sub-controls, implementation groups, and metrics for each control.

Cyber Resilience Review (CRR) and Cybersecurity Capability Maturity Model (C2M2): Developed by the U.S. Department of Homeland Security and U.S. Department of Energy, these models are designed to help organizations providing critical infrastructure services and their operators evaluate and enhance their cybersecurity capabilities. The CRR helps to assess enterprise practices across ten key areas, including risk management, incident management, and service continuity. This evaluation helps organizations understand their ability to manage cyber risks during normal operations and crises.

The C2M2 is a domain-specific model that focuses on the cybersecurity practices of the energy providers. The model uses Maturity Indicator Levels (MILs) to represent an organization’s capability progression from basic activities (MIL1) to more advanced practices (MIL4). This allows organizations to track growth over time and prioritize actions for improvement.

While originally designed for the energy sector, C2M2 is applicable across various industries, including manufacturing, healthcare, and finance. It provides descriptive guidance rather than prescriptive controls, allowing organizations to tailor their approach based on specific needs.

ISO 27001: The ISO/IEC 27000 family of standards, also known as ISO27K, was developed jointly by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). These standards provide best practice recommendations for information security management systems (ISMS) and are widely used to help organizations manage and protect their information assets. The maturity model associated with ISO 27001 helps organizations assess their current security practices, identify gaps, and implement continuous improvements. By adhering to this standard, organizations can systematically manage risks, enhance their cyber resilience, and ensure compliance with legal and regulatory requirements. This approach fosters a culture of security awareness and proactive risk management, enabling organizations to adapt to evolving threats and business needs

The Interplay of Growth and Cybersecurity

According to a report by McKinsey, there is a profound relationship between an organization's cybersecurity maturity and its profitability.

Organizational cybersecurity attainments align on a profitability scale. While cyber maturity and profitability are not directly correlated in all organizations profiled, an overall relationship between higher cyber maturity and better margins is clear.

Source: Organizational cyber maturity a survey of industries

Profitability is one of the key points, there are other driving factors for achieving a high cybersecurity maturity level. A holistic approach that balances business growth with cybersecurity is essential, as it ensures not only protection but also supports the business's long-term viability. Below are key drivers of increased maturity:

Regulation

Many regulations are in place to ensure compliance. cybersecurity maturity directly supports these regulatory needs, acting as a framework that integrates security into daily business operations. Such alignment not only strengthens security defenses but also ensures that the company can meet many regulatory core requirements.

For example, regulations such as the Personal Information Protection and Electronic Documents Act (PIPEDA) and the new requirements under the Office of the Superintendent of Financial Institutions (OSFI) in Canada emphasize incident reporting and protecting personal data. Achieving higher levels of cybersecurity maturity enables organizations to establish robust incident detection, response, and reporting mechanisms, as mandated by these regulations. Businesses that operate in sectors like finance and healthcare must not only meet baseline regulatory requirements, but also show a structured and repeatable approach to security that satisfies regulators' growing expectations.

Better Customer Service

In B2C industries, such as retail, financial services, and telecommunications, customer confidence is one of the key metrics. High-profile data breaches, coupled with a growing awareness of identity theft and privacy issues, have made consumers more selective about providers with no cyber incident in the past. With a high cybersecurity maturity level, an organization can protect sensitive information about its customers, fostering trust and loyalty. Mature security processes not only offer protection but also contribute to improved service availability and faster incident recovery, all of which are vital for ensuring customer satisfaction. Essentially, when security is integrated into the operations of an organization, services become more resilient and reliable, resulting in greater customer experience. As a result, cybersecurity will not only protect, but also give a competitive advantage.

Industry Competition

Sectors like technology, e-commerce, and financial services face a high competition pace. Companies are continuously trying to work their way up toward differentiation. Cybersecurity maturity is an important factor in that differentiation. In a marketplace where consumers and clients are increasingly becoming aware of security risks, commitment to cybersecurity acts like a differentiator. Leading companies in these verticals set the pace in security practices, forcing others to either follow or fall behind. In B2B settings, cybersecurity has turned out to be the key to a partnership-a situation where businesses increasingly require security along supply chains and third-party ecosystems. Organizations with weak cybersecurity controls may find themselves excluded from valuable partnerships or contracts. This competitive pressure, therefore, serves as an incentive for companies to invest in robust, scalable, and advanced cybersecurity programs that merely protect their assets but also grant them the lead in highly aggressive markets.

Adapting Cybersecurity Strategies for Growth with The Help of Maturity Assessment

As organizations expand, ensuring that cybersecurity strategies evolve in tandem with growth is crucial. Cybersecurity maturity level determination is a valuable tool in this process, providing a structured approach to assessing and enhancing security measures. By understanding an organization's current maturity level, leaders can develop targeted strategies that bolster defenses and support sustainable growth. Below are a few steps to start this process in any organization:

1. Assessing Current Maturity Levels

The first step in adapting cybersecurity strategies is to conduct a maturity assessment. Assessment can be performed internally or by experienced consultants. This involves evaluating existing cybersecurity controls, policies, and technologies against established frameworks such as NIST, CIS Controls, or ISO 27001. The assessment identifies strengths and gaps across various domains, providing a clear picture of the organization's security posture. Alternatively, organizations can leverage self-assessment tools to get a better view of their cybersecurity maturity.

2. Setting Realistic Improvement Goals

Based on the maturity assessment, organizations can set realistic and achievable goals for enhancing their cybersecurity capabilities. These goals should align with business objectives and consider the resources available. For instance, if the assessment reveals a need for improved threat detection, investing in advanced security analytics and monitoring tools can be prioritized.

3. Developing a Roadmap for Maturity Advancement

A well-defined roadmap outlines the steps needed to move from the current maturity level to the desired state. This roadmap should include short-term and long-term initiatives, clear timelines, and assigned responsibilities. It provides a structured approach to implementing security improvements and ensures that efforts are focused and coordinated.

4. Prioritizing Investments in Key Areas

Maturity level determination helps organizations identify critical areas requiring immediate attention. This prioritization ensures that resources are allocated effectively, maximizing the impact of security investments. For example, if the assessment highlights weaknesses in endpoint security, deploying advanced endpoint protection solutions and enhancing employee training programs become priority actions.

5. Integrating Cybersecurity into Business Processes

As organizations grow, integrating cybersecurity into everyday business processes becomes increasingly important. The maturity assessment often reveals areas where security practices can be embedded more deeply into operations. This integration enhances overall resilience and ensures that security considerations are part of decision-making processes at all levels.

6. Enhancing Incident Response and Recovery

Growth often increases the complexity of an organization's IT environment, making incident response more challenging. Maturity level determination helps organizations understand their current incident response capabilities and identify areas for improvement. Developing a robust incident response plan, conducting regular drills, and investing in advanced detection and response technologies are essential steps.

7. Continuous Monitoring and Improvement

Cybersecurity is not a onetime effort but an ongoing process. Regular assessments of maturity enable organizations to monitor their progress continuously and adapt strategies as needed. This iterative approach ensures that cybersecurity measures remain effective in the face of developing threats and changing business dynamics.

8. Building a Security-Aware Culture

A key outcome of maturity level determination is the identification of gaps in security awareness among employees. By addressing these gaps through targeted training and awareness programs, organizations can foster a culture where security is everyone's responsibility. This cultural shift is crucial for maintaining robust cybersecurity defenses as the organization grows.

How can we help in Cybersecurity Maturity Assessment

At PKF Antares, we recognize that every business is unique. That's why we collaborate closely with your team to identify cybersecurity risks specific to your organization. Our extensive experience, standardized methodologies, and unbiased perspectives allow us to contribute substantially to a comprehensive and efficient cybersecurity maturity assessment. Our assessment is customized to fit the organization's specific business processes and culture, so that our recommendations take into account the organization's unique qualities. You can reach our team at +1 403 375 99 55 or https://www.pkfantares.com/contact/