Cybersecurity investment involves more than just buying security technologies — organizations are also looking at threat intelligence, risk assessment, cyber-insurance, and third-party risk management.
Organizations are looking for a "high value for money" when deciding how to allocate their cybersecurity budgets, and there is a "greater focus on getting value from existing resources," according to S-RM Cyber Security Insights Report. The report, which reflects responses from 600 C-suite business leaders and senior IT professionals within large organizations, found that the top five investment areas were cybersecurity technologies (49%), threat intelligence (46%), risk assessment (42%), cyber-insurance (42%), and third-party risk management (40%). Fewer organisations highlighted technology as good value for money in 2023 (49%) than in 2022 (58%) — suggesting an awareness that that technology investments go hand-in-hand with investing in governance and personnel to effectively enable and manage the technology.
That awareness may be more prevalent among IT professionals than ...
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