How Not to Squander Your Security Budget

Organization amass giant arsenals of preventative tools and blast away when battling cybercriminals, without putting in place a coherent strategy for what they are trying to do. The result in billions of dollars in waster cybersecurity spending each year.

In this guide, you’ll learn the correct approach to cybersecurity, how to conduct a risk assessment, and how to adequately spend money to best accomplish security goals.

The secret to not squandering your security budget is knowing what problems to solve.

Security Facts

The security tools market is large and chaotic. The average enterprise uses 80 security products from 40 vendors, according to IBM. More than 3,500 companies sell cybersecurity solutions. Global spending on computer security will top $165 billion by the end of 2019.

Three Steps for Optimal Protection, Efficient Spending

Here are three steps for protecting your organization against hackers and making sure you maximize your security budget.

  • Conduct a risk assessment analysis. Through a multi-step process, organizations must determine what hazards exist, what harm they could cause, and how to protect against them.
  • Ensure that data protection is at the core of your security strategy. Employees, contractors, and business partners need to be educated in techniques for avoiding information disclosure, not clicking on unknown links in emails, limiting the use of detachable storage, and avoiding public file-sharing services.
  • Develop and enforce consistent and repeatable access controls. File and folder permissions are too often assigned on a one-off basis or not assigned at all, leaving a gaping security hole behind the firewall. Luckily, the most common security holes can be plugged without breaking your company's budget.