Navigating Security, Business Continuity, Through a Downturn

With inflationary pressures mounting and downturn fears hovering, it’s natural for organizations to scale back on their overall spending, including cybersecurity. After consecutive years of double-digit growth, cybersecurity spending appears to be slowing down mainly because CISOs are struggling to secure budgetary approvals. What’s more, this is happening at a time where cyber attacks and data breaches are reaching new highs and cybersecurity teams are feeling overwhelmed and overburdened with work.

Budget restrictions are never good for cyber security.

When security leaders are forced to apply brakes on their security budgets and plans, organisations invariably become more vulnerable to attack, unable to defend themselves adequately against emerging and evolving threats. Every industry goes through cycles of economic hardship and financial constraint. This is why it’s necessary for security leaders to adapt to circumstances, act with pragmatism and leverage economic adversity as an opportunity to fine-tune defences and strengthen the organisation’s cyber resilience.