November 16th, 2018
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Why Businesses are Increasing IT Security Spending
Corporations are notorious for trying to do as much as they can with as little as they need to spend to get there, which is why most departments tend to see shrinking spending after they are established and built up to a point of operational stability. What’s notable about this is that IT spending across most major businesses in every sector is still going up, despite the widespread access to cloud hosting and other cost-cutting measures. Clearly, this means there are still developments in the IT sector that warrant the investment, but the question becomes what are they?
Factors Leading to an Increase in Spending
When 86 percent of the companies surveyed in a research report indicate that they will be investing in more personnel, more security, and more equipment, there are a few things to look at before coming to a conclusion about the reasons behind the change. First and foremost, one needs to ask whether there are any new innovations that might make the expense worthwhile, and there are. The industry is at a point of change where investment in cloud systems promises savings over the medium and long-terms, but changing over from legacy infrastructure to the new systems also takes an initial investment. Many businesses are increasing spending with this exact strategy in mind.
Another reason companies increase their IT spending is to improve security and customer service, and there is every indication that this is exactly what is happening in a large number of cases. As companies participate more fully in the technological benefits that come from developing API packages and putting cloud services into place, they also need to step up security. Even in off years, the security expenses need to be taken care of, because there is never a point at which the investment in security is complete.
Cost and Benefit
If you are wondering whether or not it is time for your business to invest more heavily in IT security, then you need to know the benefits that proper security provides. When you have active security on your site and throughout your network, you are able to monitor for intrusions in real-time, protecting your investment in research and your strategies for future corporate development. You also avoid the kinds of public relations disasters that can happen after a particularly embarrassing breach.
If you are trying to decide what to do with your IT budget, consider what you can do to increase security in a cost-effective way before you add services. That way, when you do add them, they will be properly protected.