Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News
    • Small Business

    Businesses Plan Increase in IT Security Budgets

    By
    Nathan Eddy
    -
    December 30, 2015
    Share
    Facebook
    Twitter
    Linkedin
      secureauth survey

      Businesses nationwide are increasing their cyber security budgets and exploring alternative authentication techniques to passwords, according to a SecureAuth survey.

      Commissioned in conjunction with Wakefield, the responses surveyed more than 300 IT security professionals in the U.S., and found a whopping 59 percent of professionals surveyed said their company experienced a data breach in the last 12 months.

      “It is very concerning that such a high percentage of the companies surveyed have been breached,” Craig Lund, SecureAuth’s CEO, told eWEEK. “I do this for a living, and I was shocked by the number. It’s really quite extraordinary. The findings indicate companies are genuinely vulnerable and they add credence to the notion that breaches have become commonplace.”

      The survey revealed nearly all (95 percent) of respondents think their companies will increase their security spending in the next year. Of that number, nearly half (44 percent) expect to do so by 20 percent or more.

      “The threat landscape is amazingly sophisticated. In a way, we should be looking at it as a big business, in that there is so much money at stake and so much money being funneled into the actual attack execution,” Lund said. “With this in mind, one of our mantras here is that companies should assume they’re going to be breached at some point—and prepare accordingly.”

      While 62 percent of respondents report that managing the consequences of data breaches cost their companies more than protecting against them, IT professionals face an ongoing battle, owing to market pressures that tend to get in the way of prioritizing proactive cyber security.

      The survey found 87 percent of cyber-security professionals indicate that their company is frequently forced to choose between user experience and greater security.

      “For someone with a limited budget, my advice is to deploy an adaptive multi-factor authentication system offering numerous authentication options,” Lund said. “Putting in this type of flexible platform means you can apply more or less security to the resources you are trying to protect. Therefore, you save money putting high security only on the applications you need.”

      He noted, furthermore, that if one of the authentication methods becomes compromised, businesses don’t have to rip out the whole system. Instead, they can redirect with an alternative method.

      “The key here is to prevent misuse of valid credentials,” he explained. “It’s like putting a good lock on your front door; while that flashy and expensive security system may seem eye-catching, you can’t discount the simple effectiveness of the lock.”

      Nathan Eddy
      A graduate of Northwestern University's Medill School of Journalism, Nathan was perviously the editor of gaming industry newsletter FierceGameBiz and has written for various consumer and tech publications including Popular Mechanics, Popular Science, CRN, and The Times of London. Currently based in Berlin, he released his first documentary film, The Absent Column, in 2013.

      MOST POPULAR ARTICLES

      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×