How to Plan Cybersecurity Budget Effectively?
How businesses should go about budgeting for cyber security measures in this day and age? Cyber security is the foremost concern of Chief Information Security Officers (CISO’s) and IT security professionals globally. It is the first and last thought on their minds during their working day when they strive for securing the data and assets of their enterprise. Budgeting for cyber security must be done like budgeting for any other enterprise expense bucket. Spend on information security measures and advancement has increased exponentially in the last several years to keep up with the ever-evolving cyber threats landscape. Spend in Australia on cyber security was $5.6b in 2020 , while globally it was estimated to reach $123b. Traditionally, information security has been considered as a “necessary evil” investment where organisations have put in the necessary foundational and basic measures, but not done much with the remaining budget. This outlook has changed dramatically to cope with and ...