The Cost Factor: Taking a Proactive Approach to Cyber Security ROI

Security teams are doing their best to keep employees online and secure during this extended period of working from home, but as we move towards the end of the year, budget cuts will be inevitable and security staff will invariably have to do more with less. In fact, Gartner’s senior finance leaders are suggesting teams could be facing reductions of 10% or more* this year. 

Currently there is a greater focus on proving business value and CISOs can expect this trend to continue into 2023. Now is not the time for a “head-in-the-sand” approach to security expenditure.  While recent global events may have accelerated decisions to cut costs, the concept has been brewing for some time. In 2019, we predicted a gradual move to consolidate and optimize security tools to simultaneously de-dupe and achieve cost efficiencies.

This new spotlight on costs may feel uncomfortable for many CISOs who find it difficult to prove ROI on expenditure; however, there are a few guidelines that can be put in place to help weather the storm.