Although cybersecurity has always been an important factor in business budgets, there’s now more need than ever to invest in security. However, the economic impact could actually result in lower security budgets. Of course, CIOs would prefer to pay for as much cybersecurity as possible, but in reality, they need to figure out how to do more with a smaller budget.
Often, cybersecurity is seen as a siloed issue, where the perception is that the best approach is to pay for as much as possible. However, this is an unsustainable way to protect your online assets. Instead, businesses should optimize their cybersecurity based on risk, cost, and value. It is also important to note that underinvesting in cybersecurity is not a practical way to optimise risk. It may keep IT costs low, but if you knowingly underinvest and then your business falls victim to cyber attack, the consequences could be extremely damaging. ...read more!
