Up to half of businesses see below the average spend on cyber security
Tuesday, December 17, 2019
Kaspersky found that the average spend is £155,152 ($205k) for small and medium and £6,055,800 ($8m) for enterprise businesses. The finding come in spite of…
According to statistics from the Kaspersky IT Security Calculator, budgets at 45 percent of SMBs and 50 percent of enterprises are below the average spend.
Kaspersky found that the average spend is £155,152 ($205k) for small and medium and £6,055,800 ($8m) for enterprise businesses. The finding come in spite of a Gartner report finding that cybersecurity spending is growing year-on-year almost 9% growth in 2019.
Globally, IT security budgets are demonstrating positive dynamics: as a number of analyst reports show, they continue to grow year on year. Kaspersky’s own survey of almost five thousand organisations across the world confirms this trend with 70% of respondents showing they expect their IT security budget to increase in the next three years.
However, statistics from usage of the Kaspersky IT Security Calculator in October 2018- 2019 revealed that some businesses are not keeping up with this trend, as their IT security spending is even lower than average. This is seen in 45% of calculations for SMBs and 50% for enterprise users of the tool.
Overall, budgets for SMBs were reviewed more actively (46%) than for enterprises (38%) and very small companies (16%). For small and medium businesses the budget issue can be even more complicated: it’s not only about money but also about the alignment of the budget planning process. It can be challenging because of demands on human resources and expertise in relevant cybersecurity risks and protection methods for different business services.
The Kaspersky IT Security Calculator helps businesses receive these insights. It is a free web tool where IT security managers can view the average budget for cybersecurity in their region and industry and compare this to budgets in their organisation.
Knowing how much money is spent on IT security across the industry allows companies to understand where they are in the market, to compare their budget with other players and even improve planning.
“Budget planning is a very important process for companies as proper investments ensure a company is ready to meet current cybersecurity challenges and threats" commented Sergey Martsynkyan, Head of B2B Product Marketing, Kaspersky.
"Though it may be a complex task which demands a good understanding of business needs towards cybersecurity, how to address them and how much it can cost.
“We at Kaspersky try to give organisations insights to help them with this process. Along with the report on IT security economics we prepare annually, the IT Security Calculator gives a glance on average cybersecurity spending, as well as specific threats and advice on protection measures”.