Fujitsu comment on EY report: Data breaches persuade companies to raise cyber security budgets
A new report from EY consultancy has reported that high-profile data breaches will lead two-thirds of companies to raise their budgets for cyber security by at least 5 per cent over the next year. This budget will be spent on both securing cloud computing and towards analytics as well as on training for IT staff.
The commentary, Haroon Malik, Director, Cyber Security Consulting at Fujitsu UK believes that it is important to remember that a bigger budget doesn’t necessarily mean that organisations will be better protected or prepared. Having a healthy cyber budget is one thing, but knowing how to spend it is key:
“Whilst no organisation can be totally safe from threats, business leaders need to take into consideration multiple factors when seeking to protect the wider business, employees and customers. After all, as attackers continue to find innovative ways to breach network perimeters, complementing employee training and awareness with continued investment in technical and security controls is paramount.
“With this in mind, it’s hugely promising to hear that the majority of companies are looking to increase their cybersecurity budgets in order to proactively remain on the front foot of attacks and threats. However, it is important to remember that a bigger budget doesn’t necessarily mean that organisations will be better protected or prepared. Having a healthy cyber budget is one thing, but knowing how to spend it is key.
“To be truly effective when it comes to protecting personal data requires a mix of people, processes and technologies: all of which have to be carefully aligned so that everything fits together properly. At the end of the day, increased budgets alone cannot stop a breach; it requires a cultural shift to embed data governance throughout an organisation.”