Pressure to cut IT budgets is now the biggest obstacle to
effective information security, a survey of 1,400 IT executives
around the world has revealed.
Over the past 12 months, funding shortages have overtaken viruses
and hackers as the number one security concern for businesses,
according to research by Ernst & Young.
Belt-tightening after a year of stock market turbulence and poor
economic performance is placing renewed pressure on IT departments
to align their spending with business objectives.
Fifty six per cent of the companies surveyed cited a shortage of
funds as the most serious security obstacle, ahead of skills gaps
and a lack of management commitment and awareness.
Hopes that tougher competition and new business demands would
release funds for new projects have been dashed during the past 12
months, and there is no sign of an imminent recovery, said Ernst
& Young.
The survey questioned whether organisations use their IT security
budgets effectively. Nearly 50% of respondents admitted that their
security spending is not closely aligned to their business
objectives.
"In the current economic climate, it is critical that businesses
have processes for identifying security threats and vulnerabilities
and determining how to prioritise spending to get the most
effective coverage," said Jan Babiak, managing partner at Ernst
& Young.
Only 33% of businesses give priority to employee awareness and
training - one of the most cost-effective ways of addressing
security. "We regard the human capital part of the equation as very
important in addressing information security and deserving of far
more consideration," said the Ernst & Young report.
For the full report go
to
www.ey.com