Few tips for medium to large business organizations to use IT security budgets effectively.
To use your hard-earned budget dollars, your enterprise information security team needs evolution. Now there should be a focus primarily on operation security to more of a business-centric endeavor which comprises activities like risk assessments, IT supply chain integrity, and process optimization. The core information security team should be responsible for governing and coordinating all security efforts and performing tasks and must have specialized security knowledge to perform the task well.
The security team’s focus should be on redefining and strengthening security’s core competencies, delegating routine operational tasks, and establishing information risk consultancy. All such approaches will ensure that security investments are effective and efficient and are successfully able to deliver the sustainable information security business goal of a company. Ideally, the most organization spends 80% of their security budget on the preventive measure with monitoring and remediation forming the remaining 20%.
Most organizations are spending on firewall, anti-virus, encryption, and authentication measures. However, by doing so we are wasting our budget by continually pouring resources into preventive control measures. This defensive approach must change; rather you must increase the funding and implementation of detection and response controls. You should spend to best address resilience and provide a balanced stable of preventive, detective, and responsive controls.
It is certainly not unheard of that a large amount of security operation money is thrown into the enterprise network infrastructure unsystematically, which results in security gaps instead of reducing risk. It is seen mostly that security investments, covering people, processes, and technology are not balanced. The best thing to do is for your security budget is to get these areas synchronized.
