Cybersecurity frameworks are notoriously expensive to build and maintain. And, business leaders are frequently dissatisfied with their effectiveness. According to research conducted by the Ponemon Institute, enterprises spend an average of $2.86 million per year on their in-house security operations center (SOC), with more than half of those costs allocated to labor. Yet, barely more than half of survey respondents (51%) rated their SOC “highly effective” at detecting attacks and responding to incidents.
What else can chief information security officers (CISOs) do to reduce costs and stay within their budget as they navigate the current economic downturn? Here are five tactics to help you emerge from today’s climate of austerity with a cybersecurity framework that doesn’t break the budget.
State of the Budget
First, some context. Recent events have amplified the need for cost savings. A majority of enterprises froze IT budgets in the immediate aftermath of the crisis, but as many as 23% of chief information officers report that their budgets remain frozen more than two months later. An additional 49% saw decreases during the same period. As security organizations face new challenges identifying and containing incidents in hastily implemented remote work environments, they’re also being asked to accomplish more with fewer resources.
Because the biggest line items in any security operations program’s budget relate to staffing, it can be tempting to use layoffs in response to financial constraints. Not only are security analyst salaries high (an ..
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