In today’s evolving security landscape, cybersecurity leaders must strike a delicate balance, defending their organizations against relentless cyberthreats, which are becoming more sophisticated thanks to advancements such as GenAI, while simultaneously justifying their cybersecurity budgets amidst economic pressures.
But how can cybersecurity leaders juggle these critical priorities – responsibly defending their budgets and ensuring the security of their digital assets? A recent Gartner® report investigated this topic, providing several steps cybersecurity leaders can take.
Benchmark Cybersecurity Staffing, Spending and Maturity to Peers
“Executive management and the board of directors frequently ask how their organization’s cybersecurity spending and maturity compares to industry peers. Proactively benchmark your cybersecurity program and develop a compelling narrative that explains and justifies your resourcing needs.”
– Gartner
Within the complex and rapidly evolving threat landscape, organizations often face resource and knowledge limitations when it comes to maintaining robust cybersecurity practices. This is where partnering with a trusted partner like Dell Technologies can make a big difference. Our experts bring valuable expertise, specialized skills and up-to-date insights to identify gaps and prioritize essential security investments effectively, ultimately highlighting the critical role of cybersecurity in safeguarding an organization’s interests.
Demonstrate the Link Between Security Spending and Business Outcomes
Gartner® says “cybersecurity is a cost center and, therefore, a potential target for cost-cutting measures. Educate executive leadership on how cybersecurity supports and defends tangible business outcomes, such as revenue generation, cost savings, strategic initiatives and brand protection.”
The inevitability of cyberattacks highlights the significance of balancing proactive security measures and resilience in today’s landscape. Organizations need to invest in technology that minimizes the impact of cyber incidents, such as reducing the attack surface, having the ability to detect and respond to cyberthreats and quickly recovering from an attack. We believe this is where organizations can find support from partners like Dell Technologies, who offer multi-layered defense planning and continuous advancement of security practices to effectively combat the ever-evolving threat landscape.
Formalize Cybersecurity Strategic Planning
“While cybersecurity budgets are currently stable, economic headwinds could put cybersecurity funding and staffing at risk in the future. Cybersecurity leaders should proactively formalize their strategic planning process and provide greater transparency and clarity to leadership on how resourcing decisions are made.”
– Gartner
A roadmap also helps organizations plan and prepare for the worst-case scenario. Dell recommends organizations establish incident response protocols that outline roles and responsibilities, and ensure seamless communication and coordination between internal teams, professional services and partners. A well-defined incident response plan and collaboration is not only the key to effective recovery, but it also helps protect the budget by making spending decisions more defensible.
Strengthen Your Cybersecurity Posture
Protecting a cybersecurity budget in times of economic uncertainty requires a proactive and data-driven approach. By following Gartner recommendations, cybersecurity leaders can justify their budgets, allocate resources effectively and align them with the organization’s overarching objectives.
As technology continues to advance, organizations must keep pace to safeguard digital infrastructure and maintain trust in the digital realm. That’s why partnering with an organization like Dell empowers organizations to navigate through uncertain times with confidence, fortifying their security posture and safeguarding their budget against any economic uncertainty that may come their way.
Access the full report here.
Learn more about Dell’s portfolio of IT security solutions here.
Gartner, Quick Answer: How to Responsibly Defend Cybersecurity’s Budget During Economic Headwind, By William Candrick, Richard Addiscott, 12 April 2023
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