No time to Reduce Security

In the face of the pandemic, companies are cutting expenditures, and as often happens, it appears they are cutting expenditures on cybersecurity. “Gartner estimates a $6.7 billion decrease overall in global security spending in 2020 for software and services as a result of the economic impact of the pandemic, while Forrester Research has warned security teams to expect to see leaner budgets and trimming of their already-thin staffs.”

At the same time, increases in online business and offsite working have led to new security challenges. It seems the wrong time to be cutting cybersecurity expenses.

Part of the reason for the cuts is that companies are increasingly moving to cloud systems, and using cloud based security (SOC). This may not be a good thing. As companies outsource their security they tend to lose some control over it which presents a new set of issues. They may find they need to renew their security spending sooner than they thought.

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