The good news for the security sector, in these challenging times, is that Gartner foresees security spending to grow in the new year. This is optimal when we acknowledge the uncertainty that is still around and that will continue post-COVID-19.
The pandemic brought about many changes by the end of the first quarter of 2020. Changes that were completely unexpected, and that threw off any security or other business budget planning that had been made in 2019 for 2020.
One of the biggest changes being most of the workforce going remote. This was something no company could have foreseen. Businesses with an effective cybersecurity posture met the challenge well, while companies without one had to rush to get the proper cybersecurity measures in place (with the budget at hand).
As we close the last quarter of the year and prepare for a new one, there’s a different approach with budget planning due to the ongoing uncertainty brought about by this pandemic. Essentially, planning for the unknown and unexpected at all times. This philosophy goes hand-in-hand with cybersecurity, since the risks a company faces are always many, changing, and continuously evolving. A little bit like viruses.
With this in mind, let’s focus on three areas that you can direct your cybersecurity spending budget toward and win the uncertainty battle.
Prepare for risks around remote work
Security is important, and now that most people are working from home or remotely, it is ideal to find and put into place endpoint security for all devices used by everyone who works at an organization.
You want to make sure you are using the most secure platforms to conduct business; one of these is considered Microsoft Teams, but there are also others. To be cost-effective, it is best to solidify conducting business operations with the least number of different technological components and provider solutions as possible.
To simplify your search, look for a one-stop solution to sharing documents, updating and communicating, and plan to have an offline back-up for all that you need to conduct business operations in case you’re put offline (by power outage for a natural disaster, or ransomware where your data is held hostage).
Always be prepared for offline data access
Include in your security spending the ability to allocate all of the data you need to do business in a way that will give you continuous and immediate access if your online data gets taken or becomes inaccessible for some reason.
This doesn’t mean only storage, it also means the team that will know where to look, how to get it, and who to share it with, and all of this while respecting privacy data regulations for different countries, different departmental roles, and more.
People you can trust to guide you on all cybersecurity areas
It is essential for all businesses, large and small, to have at least one cybersecurity expert to refer to that can clarify and step up to defend the business assets and operations against cyber criminals and risks. If you have to train an employee to have this person in your business set the budget aside to do so. Your business depends on it.
Also, you always have security consultants, such as our team of experts, to hold your hand in moments of need, long-term needs, and overall direction. For a holistic cybersecurity posture that will defend your business operations from all sides, 24x7x365 there are even solutions like our MyCSO security services.
The important aspect is you must have someone on your team that you can trust when it comes to the ins and outs of cybersecurity. Someone who knows about: vulnerabilities, patching, network security, endpoint security, plans and procedures, privacy regulations and compliance needs for different industries and to close specific types of contracts such as businesses who want to close DoD contracts needing NIST 800-171 compliance and CMMC certification, and so on.
With these three cybersecurity spending areas covered, you can stay on top of the uncertainties that lie ahead for the duration of the year with the pandemic still ongoing, for the new year and the next year, and the next, and the post-COVID-19 era overall.
This year has brought many surprises; being prepared for what’s next can relieve the stress and make anything that comes your way not so scary or stressful, which is always nice (isn’t it).
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