Most people are familiar with the word “cybersecurity,” but in most cases, it doesn't capture much attention past the headline. Neither does ransomware, another term not new to the digital world's vocabulary. But it, too, is often dismissed as one of those things that, as people say, “will never happen to me.” Fair enough, chances are that most individuals won't get caught in the web of cyber criminals. But that doesn't mean it can’t happen – and unfortunately, the effects can be devastating.
In the past few years, millions of computers have been taken over by ransomware. This type of malware encrypts a user’s files and then demands a ransom to restore access. Not only is it unlikely that paying this ransom will resolve the situation in the long term, but a refusal often results in the hacker threatening to expose the victim’s personal data and browsing history to the world. Given the ramifications of a ransomware infection, it’s important not to rule out the probability entirely. As cybercrime becomes more prevalent, especially with AI-based social engineering and brute force attacks, no one is immune from that potentially devastating and costly occurrence. Still, being exposed to attack is only one side of the equation. The other side is defending against them. And CISO Global (NASDAQ: CISO) checks that box by providing a more than formidable defense; it's practically impenetrable.
Its solutions are timely. The cyber threats to business are constant, and nothing on the digital defense horizon indicates that the pace is slowing. In fact, with people now harvesting the power of AI, these attacks can become more layered, more sophisticated, and harder to defend against. Those in the sector are well aware of the daily risk. Global institutions, including banks and manufacturing companies, have paid millions in ransom to free their assets. And despite the payouts, most still aren't learning their lessons.
Educating Toward a Culture, Not Just Products
Sure, companies can implement a program, hire an IT team to develop code, and even create entire divisions to combat cybercrime, often touting their integration as a one-time fix-all to an evolving threat. Yes, it appeases company leaders, its BOD, and investors. But, the truth is that a set of products and technology implemented in 2023 will have little effect against an attack in 2024. That's the reason products lose to culture when it comes to fighting cybercrime.
The latter is where CISO resides. They have products - lots of them. However, the company emphasizes something more powerful: creating a culture that understands the issues and develops long-lasting resources and solutions to win fights on the digital battleground. And there's plenty to battle, with statistics indicating a 485% surge in ransomware attacks in 2022. These attacks often, if not always, result in significant financial losses, operational disruptions, reputational damage, and compromised customer data. But for those thinking that growth is alarming, consider this.
As businesses become increasingly interconnected, cybercriminals can capitalize on vulnerabilities to infiltrate networks and hold critical data hostage. Remember, there is no one-size-fits-all approach to cybersecurity. Thus, when businesses combine, security gaps emerge as systems can't fully synchronize to provide a complete layer of protection. In other words, while some measures and technology can plug into each other, many can't. And if one of the companies uses dated technology, the even worse news is that they’ll potentially need to start from scratch to create a formidable defense. Remember, just like versions of the iPhone (NASDAQ: AAPL) two years later, its technology isn't necessarily obsolete, but it certainly isn't cutting edge. That matters.
Don't think the impact of ransomware and cyber attacks aren't far-reaching. The costs associated with paying and defending against it trickle down to consumer prices. More simply, even if not directly attacked, everyone in the supply chain, including the final purchase, pays the price.
CISO Global Is Changing A Cybersecurity Mindset
The excellent news is that times are changing. While improved security and resources are helpful, companies like CISO Global are pioneering a new mentality in protecting against cybercrime by reshaping the concept of cybersecurity from a purely product-based approach to an ingrained cultural mindset. In other words, while CISO Global can provide its customers plug-and-play solutions, it's generally not something they would do. That's not to say revenue recognition isn't a top priority - it most certainly is, according to its updates. But saying that's something they generally wouldn't do is based on CISO's mission to partner with its clients to establish a culture of cybersecurity that benefits operations and creates long-term relationships.
One would think creating a plan - a culture, so to speak - would be difficult. In this case, however, it really isn't. Companies are embracing the CISO Global approach and are amenable to the rigorous Q&A involved in CISO assessing each client-specific situation and need. Delving deep into a company allows CISO to identify vulnerabilities and, only then, develop client-specific frameworks that consider the risks associated with policies, procedures, and operations specific to the client's professional and industry requirements. More simply, CISO emphasizes its technology less than the need to cultivate a security-conscious workforce that understands the value of proactive defense against ransomware threats.
Facilitating that intent is education. Reading CISO press releases, its website, and filings, that's no surprise, noting that each expresses education clearly at the heart of CISO Global's mission to combat ransomware. That reach is expanding, with CISO actively engaging potential clients through workshops, seminars, and training programs designed to empower businesses to understand the evolving tactics employed by cybercriminals and the measures they can take to fortify their defenses. The takeaway is usually the same from these events: by educating attendees and providing a deep understanding of ransomware and its implications, CISO Global is sending people out the door with the crucial knowledge to be proactive rather than reactive in the face of cyber threats.
Providing A Wealth Of Resources
But know that CISO doesn't just send them on their way without a pitch. And it's that combination of education and best-in-industry products that should significantly steepen CISO's growth trajectory. In other words, CISO Global is more than a teacher; they provide enormous technology resources that enable companies to substantially strengthen their security posture. There's no gap in coverage; CISO offers cutting-edge technologies to enhance threat intelligence, incident response plans, and continuous monitoring. Once equipped with comprehensive CISO product and plan excellence, client companies are undoubtedly better prepared than ever to mitigate ransomware risk and stay protected well after the next technological advancement cycle.
But here's a value kicker. The CISO Global of today is likely to get much larger, with industry consolidation allowing small companies to become larger faster than anyone may have expected. Include CISO in the prospects list. Not only are they at the forefront of the cybersecurity industry transformation from a philosophical perspective, but the company also benefits from having industry-best products that can lead to joining forces with other sector players through strategic partnerships, licensing, and acquisitions.
Make no mistake; knowledge is power. And when combined with an asset portfolio that has significantly more intrinsic value than what its share price presents, more times than not, the path of least resistance for creating shareholder value is higher. Thus, while the valuation disconnect between share price, intrinsics, and inherent potential is already wide, considering the potential for near-term collaborations makes it a gap too big to ignore.
Positioned To Surge In 2023
In fact, many investors have already taken notice. Capital has even been raised above market prices, indicating that not everyone is under-appreciating the value within this smallcap company. And with CISO's CEO recently voted as a 2023 Phoenix Titan 100 recipient, making him a two-time consecutive winner, it's probable that this cybersecurity company won't stay under the radar much longer. With that the likely case, at current sub-dollar prices, CISO stock is more than a bargain; it's a ground-floor investment opportunity.
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