Most companies do not know how effectively they are investing money to fight the cybersecurity threat, according to Optiv. Cybersecurity budgets are increasing and cyber incidents are rampant, and yet only a small percentage of respondents have a formal approach to determining cybersecurity budgets, which can lead to inefficiencies and missed opportunities to address critical security gaps. Lack of formal approach to cybersecurity budgets Based on an independent Ponemon Institute survey, the report reveals a … More → The post Companies spend more on cybersecurity but struggle to track expenses appeared first on Help Net Security.
When I took over part of the IT budget I noticed random security things scattered through different groups that made it harder to track. Since we don’t have project codes I lobbied to move them over to security’s budget with the argument “my software still works fine without it… since you’re mandating it, you pay for it”. Since then we’ve been able to track all of our expense in security and then just allocate it out globally.