Security Spending Presses Forward, but What About the Clouds? - Page 2

While many of the study's findings reflected a continuation of previous trends, it also showed the rapid advances in security in India. "Perhaps the most dramatic and compelling highlights of this year's survey are the breadth and depth of India's advances across almost every security domain. Last year, 65% of Indian respondents reported that their organization planned to increase security spending in 2008-compared to 44%, the global average-and clearly they have," the report states.

The report continues, "As a result of this investment blitz, India's security capabilities now surpass those in almost every country in the world. Indian respondents are more likely than those in the U.S., U.K. and Australia, for example, to report that their company has an information security strategy in place."

Asked to comment on how he sees the current security spending environment in light of the ongoing worldwide economic difficulties, Mignone said, "In uncertain times, every single dollar is being looked at, but security is so fundamental, there will be security spending, but it will be very carefully tied to a clear benefit. I think there will be a pullback, but [security spending] will not totally dry up."

The development of cloud-based, or hosted application, computing drew less enthusiasm from the panel, who noted that regulatory rules concerning where data is kept and how it is maintained can contradict the technology design of cloud computing, where data can exist with no fixed location.

Read here how Microsoft's Azure could usher in the cloud as a commodity.

"Cloud computing is a nightmare," said Robert Bragdon, the publisher of CSO magazine and a co-sponsor of the security study.

While the cloud might be a nightmare, "[cloud computing] will happen anyways," said Gerard Verweij, CIO of the advisory council for PriceWaterhouseCoopers.