Have you ever wondered how much a single cyberattack can cost?
The average cost of a cybersecurity breach in 2023 was $4.45 million, according to the IBM Cost of a Data Breach Report 2023. This is a 15 percent increase over the previous three years.
In 2019, Jerry Sanchez co-founded Framework Security in an effort to prevent businesses from dealing with this level of financial burden by pinpointing their weak spots and bolstering their defenses.
“Witnessing the growing threat landscape, I recognized that countless organizations were exposed to potential cyberattacks, often unaware of their own vulnerabilities,” he said.
While the promise of confronting cyber crime was exciting to Sanchez when he set out on his venture, he was also nervous about entering a crowded tech space with fierce competition. And then, the pandemic started, which presented its own set of challenges.
Yet Sanchez and his team managed to weather these setbacks by relying on the core values that the company is rooted in — advocacy, agnosticism, goal-oriented and clear communication. The overarching mission was to ensure the firm was always focused on the measurable results of its services.
“These values became our unique selling points, helping us carve out a niche, build trust and foster lasting client relationships,” he said. “The competition became less intimidating, as we realized that our commitment to these values was what made us stand out.”
As Framework Security grows, the company is focused on driving several key strategies designed to ensure businesses have the solutions needed to fend off cyberattacks and safeguard their sensitive information. Below, Sanchez shares more about these strategies, as well as how the company has overcome challenges and those who inspire him in the industry.
Since its inception, Framework Security has garnered a series of awards. Earlier this year, the Cybersecurity Excellence Awards named the company “CISO of the Year,” “Cybersecurity Team of the Year” and “Virtual CISO Solution of the Year” for 2023.
Framework Security was born out of the desire to combat these online ‘bad guys’ and offer robust protection to our clients. Our primary focus is on risk assessments, penetration testing and virtual chief information security officer advisory services. Through risk assessments, we meticulously identify and evaluate potential vulnerabilities, enabling organizations to understand their unique cybersecurity needs. Our penetration testing services simulate real-world attacks to uncover weaknesses in systems and networks. Finally, our vCISO services provide companies with the expertise of a chief information security officer without the cost of a full-time executive.
What challenges has your team overcome over the years?
During the pandemic, there were moments as a founder that were very challenging, including a time when we had to pause multiple projects with clients who were facing hardships. Although these setbacks felt insurmountable at the time, remembering our company’s core values and the unwavering support of our team motivated me to keep going. We adapted and ultimately navigated those challenging times, thanks to our collective effort and commitment to our mission.
“Although these setbacks felt insurmountable at the time, remembering our company’s core values and the unwavering support of our team motivated me to keep going.”
To whom did you look for inspiration early on, and why?
Bruce Schneier is an internationally renowned security technologist and is considered a ‘security guru’ by The Economist. He has written over a dozen books and is a fellow at the Berkman Klein Center for Internet and Society at Harvard University.
I also follow Robert Herjavec, the founder of Cyderes, because he’s passionate about helping businesses protect themselves from cyber threats and is a valuable asset to the cybersecurity community. He was a big inspiration to start our firm.
Another inspiration is Brian Krebs, a former reporter for the Washington Post who now runs Krebs on Security, a popular cybersecurity blog. He’s known for his investigative reporting on cybercrime. Adi Shamir is another individual I follow. He’s a renowned cryptographer who co-invented the RSA algorithm, a foundation for secure internet communications, and has made numerous contributions to the fields of cryptography and computer science.
What’s next for Framework Security?
As we expand our mission to help businesses of all sizes fight cyber threats, we’ll focus on several strategies. We’ll create affordable, scalable solutions to serve small, midsize and enterprise businesses, democratizing access to high-quality cybersecurity tools and expertise. Additionally, we’ll launch awareness campaigns and training programs, educating businesses about cyber threats and best practices to mitigate risks.
Collaborating with industry leaders and government agencies will help us stay updated on the latest threats and develop comprehensive, effective defenses. We’ll also invest in research and development, creating cutting-edge technologies to stay ahead of evolving cyber threats.
With these initiatives, we aim to make a tangible impact on businesses’ cybersecurity postures and help create a safer digital landscape for all.