{"id":62598,"date":"2022-05-03T10:00:00","date_gmt":"2022-05-03T14:00:00","guid":{"rendered":"https:\/\/jumpcloud.com\/?p=62598"},"modified":"2022-12-13T14:51:05","modified_gmt":"2022-12-13T19:51:05","slug":"patch-management-costs","status":"publish","type":"post","link":"https:\/\/jumpcloud.com\/blog\/patch-management-costs","title":{"rendered":"Understanding the True Cost of Patch Management"},"content":{"rendered":"\n

It may seem implausible to discuss the relationship between return on investment (ROI) and patch management<\/a>. After all, patch management \u2014 applying and managing updates to applications \u2014 doesn\u2019t generate earnings for the organization. However, while patch management may not contribute to revenue earnings, loss prevention certainly impacts the company\u2019s overall bottom line.<\/p>\n\n\n\n

In other words, cost reduction is an implicit ROI of patch management. So, how much money can patch management save your company? It depends on how much an unpatched software vulnerability or bug would have cost your organization. This, in turn, depends on which applications were attacked, what data was compromised, and most importantly, how fast the attack was controlled. <\/p>\n\n\n\n

Every security vulnerability \u2014 whether targeted or non-targeted \u2014 can profoundly cost the organization. This post explores patch management costs and considerations for effectively managing those expenses. <\/p>\n\n\n\n

Factors That Affect the Cost of Patch Management<\/strong><\/h2>\n\n\n\n

There is no one-size-fits-all answer to how much patch management costs every business. However, certain factors are crucial when making that evaluation. For example, you need to evaluate both tangible costs \u2014 actual money spent on repairs and containment measures \u2014 and intangible costs such as lost revenue and compromised assets, operational disruption, and brand damage.<\/p>\n\n\n\n

Below are some aspects to consider when evaluating the actual cost of patch management:<\/p>\n\n\n\n

1. Human resources<\/h3>\n\n\n\n

Hiring and retaining certified cybersecurity experts is essential in today\u2019s business environment because such professionals can help the organization develop novel ways of combating new security threats. However, as cyberattacks have exponentiated, so has the demand for certified cybersecurity experts<\/a>, which are few. <\/p>\n\n\n\n

Virtually all businesses \u2014 irrespective of their sizes \u2014 have had to engage the services of external cybersecurity experts to recover from security breaches. Recruiting such experts can be costly, and those costs can mean death for an organization. In fact, 60 percent of small businesses<\/a> will go out of business within six months of a breach.<\/p>\n\n\n\n

2. Time required to patch<\/h3>\n\n\n\n

The application of security patches shouldn\u2019t rely on manual methods. But that\u2019s precisely what many companies essentially do, either through direct IT involvement or a reliance on end users to apply updates as they come in. Not only does this waste valuable time, it can cost an organization more than just dollars and cents. <\/p>\n\n\n\n

The process becomes even more tedious and cumbersome when considering the surging number of endpoints in organizations. According to Endpoint, it can take up to 102 days to patch applications<\/a>. This means that a vulnerability can remain on the enterprise network for months on end. <\/p>\n\n\n\n

Since the patch management process<\/a> is also disruptive to employees, most of them often choose to \u201cturn off auto-updates\u201d to avoid interruptions to their work. This can lead to missed crucial patches that can help the system operate more securely and seamlessly.<\/p>\n\n\n\n

3. Patch frequency<\/h3>\n\n\n\n

Another way to figure out security patch management costs is to look at the frequency of applying patches. Because patch management is a critical function, IT teams must aim to conduct some form of patch reporting as regularly as possible. For example, a daily patch routine can include simple inventory scans consisting of physical and virtual assets to ensure that no apparent flaws exist in the company\u2019s established safeguards. <\/p>\n\n\n\n

This can be followed by more detailed assessments occurring at longer intervals<\/a> such as weekly or monthly to deal with the intricacies of your IT infrastructure. The frequency of these operations can be overwhelming for IT teams, potentially impacting their overall productivity. <\/p>\n\n\n\n

4. Number of systems affected<\/h3>\n\n\n\n

Patch management is an essential component for keeping applications secure and functioning correctly to support the business\u2019 bottom line. Suppose some applications, such as mission-critical systems, experience even minimal downtime due to an unpatched vulnerability. <\/p>\n\n\n\n

In that case, the company can suffer adverse consequences in terms of productivity, lost revenue, and brand reputation. If the bug affects many systems, the estimated cost of business disruption and lost customers can be high. <\/p>\n\n\n\n

The Costs of Security Incidents<\/strong><\/h2>\n\n\n\n

Cybersecurity costs can be grouped into three categories: before the attack (threat response), while under attack (restoring systems), and disruptions (downtime). For the purpose of this analysis, we\u2019ll treat the two later costs independently, even though they may overlap. <\/p>\n\n\n\n

1. Threat response costs<\/h3>\n\n\n\n

Patch management is one strategy that companies usually employ as a precaution to prevent cyberattacks. Due to its widespread use and apparent impact on business processes, patch management has direct and indirect costs to the organization. As an infinite process, patching is complex and time-consuming. <\/p>\n\n\n\n

It confines your IT administrators to a reactive state, compelling them to continually play catch-up with processes such as: <\/p>\n\n\n\n