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Cyber Security Spending

Cyber Security Spending: How Much is Too Much?

Good news: cyber security spending is on the up.

While that might not sound like great news to the average business owner – who could probably do with saving more on their defences than spending – it demonstrates that businesses worldwide are taking the ever-growing threat seriously; and when protection becomes more widespread, it also helps to prevent malware from spreading to other enterprises.

According to research from Dell and RSA, cyber security spending has increased by 141% since 2010, and is estimated to reach a worldwide total of $124billion by the end of 2019. Yet while that does demonstrate a trend in cyber security knowledge it does beg the question: when it comes to your company’s security budget, how much is too much?

As we’ve said before, your company IT can never be too well protected. But at the same time, you can have too many cyber security solutions in place. 

A recent report from IT Governance revealed that while security spending is on the up, much of it is going on solutions that companies simply don’t need. The report suggests that many organisations can’t accurately assess their security weaknesses, and are somewhat blindly investing in as many technical solutions as they can afford. Naturally, any good protection is made up of multiple components: firewalls, anti-virus, disaster recovery and so forth. Yet adding multiple types of the same protection doesn’t increase security; it just does the same job twice.

 

To identify where the money might be better spent, we need only look at the statistics. Technology news site Verdict asserts that 88% of data breaches are caused by simple human error; that’s a huge portion of cyber security failures that can’t be prevented by technology alone. It’s likely that cyber security training isn’t being practiced – or at least not as often as it should be.

For every superfluous tech investment, company spending might be better used for regular, mandated security training. After all, your protective software is updated regularly and automatically; your employee’s security knowledge isn’t. With human error the leading cause of most disastrous data breaches, it’s time to invest in the security solutions that give a real return on investment.

At Mirus, we can provide your workers with regular Cyber Security training, delivered in a way that best suits their workflow. Whether group training sessions or one-to-one tuition, delivered on-premises or via online learning modules, we’ll ensure your cyber security spending returns the results you need. As an IASME-approved certification body, we can also help businesses achieve their Cyber Essentials accreditation, ensuring them government-approved standards of cyber security.

As trusted partners for Webroot, Datto and Mimecast, Mirus’s security solutions meet the strict standards of each provider, delivering the best possible services in anti-virus, threat protection and data recovery. 

Finally, our Dark Web Scanning service roots out those data breaches you might never have known about – and helps you to recover from them.



 

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