Blown the cybersecurity budget? Here are 7 ways cyber pros can save money

Source: Blown the cybersecurity budget? Here are 7 ways cyber pros can save money | CSO Online Author: unknown URL: https://www.csoonline.com/article/3627485/blown-the-cybersecurity-budget-here-are-7-ways-cyber-pros-can-save-money.html

ONE SENTENCE SUMMARY:

CISOs face budget challenges in cybersecurity but can save costs through governance, optimization, automation, vendor scrutiny, and employee engagement.

MAIN POINTS:

  1. 57% of CISOs expect budget increases over the next one to two years.
  2. Lack of budget complicates cybersecurity initiatives for 36% of enterprise leaders.
  3. Improving governance spreads accountability and aids in budgeting and planning.
  4. Optimizing existing tools can strengthen security without additional costs.
  5. Automation and AI can improve efficiency and save workforce costs in security.
  6. Scrutinizing vendor contracts helps reduce contractor costs and ensure service quality.
  7. Automating security questionnaires can save significant time and resources.
  8. Hiring a FinOps engineer can identify underutilized tools and generate cost savings.
  9. Involving employees as security champions enhances security culture and reduces incidents.
  10. A well-structured security program ultimately minimizes financial expenditures on cyber threats.

TAKEAWAYS:

  1. Effective governance is essential for better cybersecurity budgeting and ownership clarity.
  2. Existing tools should be optimized to avoid unnecessary expenditures.
  3. Automating processes can significantly increase efficiency while lowering personnel costs.
  4. Close examination of vendor contracts can lead to substantial savings.
  5. Employees trained in security help foster a better culture and reduce overall risks.