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Where is a Cyber Security Budget Best Spent?

September 5, 2019

Cyber security threats are something no organization can ignore. Simply hoping you won’t be a target is not good enough because it’s only a matter of time before such a policy will backfire. Cyber security measures are needed, and greater investment is required.

Where is a Cyber Security Budget Best Spent?

Cyber security investment coming

Take the recent survey by consultants PWC for example. It found a 56 per cent increase in the last year of companies planning to spend at least 5 percent of their IT budget on cyber security. In total, 66 percent plan to spend at least that much, but others are spending more. The survey found that 30 percent would spend at least 10 percent on IT security.

It’s a step in the right direction. There is no clearer way of demonstrating a serious approach to security than directly investing capital in it. However, money alone is not going to immediately fix the issue.

Companies’ cultures and approach need to change too. The survey found some evidence of that. Some 72 percent of the executives surveyed said they understood the need for greater collaboration between security specialist and other executives. And 64 per cent recognized that assessments of their suppliers and partners was an important part to their cyber security.

Adopting the right approach

It’s good that companies are starting to recognize that cyber security does not work in isolation. It needs to be embedded throughout an organization. It needs be part of top-level decisions, and standard practice in day to day business.

Organizations need security that takes no chances with their data at any time. It’s not easy and it can’t be accomplished overnight. For many organizations, their best bet to quickly and efficiently start adopting cyber security solutions and processes that help protect them is to look for outside help from cyber security experts like ourselves. Global Data Sentinel can help fill the knowledge gap and provide an easily integrated security ecosystem that protects any type of data, on any operating system, on any device and on any network.

There are simply not enough well-trained cyber security experts for every organization to have a strong internal solution to cyber security.