IT services have surged to become one of the most significant business expenses, a phenomenon that spans all industries and organizational sizes, according to analysis by Gartner. The necessity stems from the continuous demands of operating and maintaining digital devices, networks, and their software.

The threat landscape in cybersecurity continues to evolve, with statistics indicating a significant increase in ransomware attacks—ranging from 125% to 150% annually. Additionally, last year saw the emergence of at least 25 new ransomware groups. A consistent finding across numerous studies is that nearly 80% of data breaches are due to human error, often through tactics like social engineering which leads to ransomware infection.

Research consistently shows that a significant portion of data breaches in small to medium-sized businesses (SMBs) are due to human error, often linked to inadequate password security. Many business leaders understandably worry about their teams' ability to protect sensitive information.

According to the latest "State of Cybersecurity" report by CompTIA, risk management is identified as the cornerstone of a robust cybersecurity strategy. The research highlights the importance of cybersecurity professionals engaging in comprehensive risk management by identifying potential risks, evaluating the likelihood of cyber incidents, assessing possible financial impacts, and developing detailed incident response plans. This approach not only strengthens the correlation between cybersecurity investment and its intended outcomes but also enhances the overall security posture of an organization.

In 2023, nine out of ten organizations adopted "digital-first" strategies, highlighting a shift where effective business leadership is increasingly synonymous with adept technology management. This trend transcends traditional tech roles, integrating IT governance deeply within every layer of an organization, from frontline operations to the executive suite.