Interesting article that posed more questions than it answered. As organizations tighten their belts, there will definitely be a reassessment of overall spending - including IT, cloud, cybersecurity. An organization should have a periodic IT audit to assess its spending and functional needs across all departments, and this may be the time you see some reduction in spending. But overall, from my experience, cybersecurity is an oincurred cost that's here to stay.
Yes, larger projects will invariably be delayed, but I think as WFH, e-commerce, social media, etc. continues its growth, the need for cybersecurity spending will solidify. Unfortunately, it will take a high-visibility data breach or cyber attack to reinforce company's need to secure its IT, data and operational infrastructure.
Interesting times, indeed.
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Jeffrey Westcott
Chief Financial Officer
Cloud Security Alliance
Bellingham WA
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Original Message:
Sent: May 13, 2020 12:19:29 PM
From: Jaclyn Parton
Subject: Security Chiefs Look to Justify Cybersecurity Costs During Business Downturn
@Jeffrey Westcott What are your thoughts from a financial standpoint?
"It's not a 2020 conversation when we talk about the impact of Covid. It's a 2021 and a 2022 discussion"
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Jaclyn Parton
Marketing Coordinator
Cloud Security Alliance
Bellingham WA
Original Message:
Sent: May 13, 2020 09:48:43 AM
From: Jim Reavis
Subject: Security Chiefs Look to Justify Cybersecurity Costs During Business Downturn
Everyone should read this!
"Companies are preparing for possible cuts to cybersecurity budgets because of the economic downturn triggered by coronavirus lockdowns, industry analysts say."
https://www-wsj-com.cdn.ampproject.org/c/s/www.wsj.com/amp/articles/security-chiefs-look-to-justify-cybersecurity-costs-during-business-downturn-11589275802
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Jim Reavis CCSK
Cloud Security Alliance
Bellingham WA
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