How to request a budget from the management for information security and get out alive?

It is important that the role of the professional parties is to take any risk that may result in damage to information, reputation and financial damage.
The management is the one who will decide whether it accepts the risk or handles it.
There is no black and white in information security, in some cases it is possible to implement compensatory controls that will reduce the risk at reasonable costs.

Here are some steps that can help you harness management to invest in information security:

Clearly explain the risks: Make sure management understands the risks and potential consequences of a security breach.
Explain how an attack can cause data loss, reputational damage, legal liability and financial damage.

Present advantages: Emphasize the benefits of investing in information security, such as improving data protection, reducing downtime, improving customer trust and regulatory compliance.

Present an authentic scenario: Build a comprehensive scenario that will provide the management with a tangible understanding of the case and the organization will experience an event.
State the costs of a security breach versus the cost of investing in security measures.
Use relevant data, such as industry benchmarks, to support your argument.

Show investment return: Show the return on investment (ROI) of an investment in information security.
Explain how a proactive security approach can help an organization save money in the long run.
One example of many: organizations are interested in working with providers who are aware of the issue of information security. It is enough for the proposal to have a photo of compliance with the ISO 27001 standard, this will already bring an advantage over competitors.

Match the business goals: The solutions must meet the business requirements.
It is important to emphasize how information security supports the organization's business goals, such as increasing revenue, reducing costs, and improving customer satisfaction.

Persistence: Even if the management rejects the investment at that point in time, it is important to continue to flood the risk and the methods of treatment.
We must not say to ourselves, "I did my part". It is our duty to continue to warn about the risks.

Author: Zabri Idan, VP of expert services and information security at Genie