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The Future of Cybersecurity Budgeting

How has spending on cybersecuirty changed over the years? See what companies are prioritizing in their budgets and our tips for managing your own budget.
Michael Buckbee
1 min read
Last updated October 14, 2022

Major data breaches from the past few years are reminders that cybersecurity can’t remain an afterthought when it comes to budgeting priorities. The threat landscape is expanding and the likelihood of a cyber attack is high. Luckily, more companies are taking their strategy seriously since investments in cybersecurity budgets increased by 141 percent between 2010 and 2018.

We took a look at trends in cybersecurity spending to let you know where the industry is headed. Plus, we put together a few recommendations so your company can make the most of its cybersecurity budget.

 

It’s no surprise that companies are increasing their cybersecurity budgets. Strategic efforts towards increasing efficiency and decreasing response times will pay off for companies in the long run. The key to successfully using a cybersecurity budget relies on the relationship between top leadership and cybersecurity professionals. A company’s overall security posture can improve if everyone is on the same page about budget allocations and how they impact the business.

A comprehensive cybersecurity solution is one investment that goes a long way. For example, automated security tasks free up time to allow IT and cybersecurity teams to take on higher-level tasks and quickly detect vulnerabilities. Robust data classification programs discover where sensitive data lives and lock down this data. See for yourself with this report on the total economic impact companies encounter after implementing the Varonis Data Security Platform. This ROI study found that a Varonis customer realized $5.9 million in total benefits and had a 346 percent ROI.

Sources: Statista | Gartner | IDC | CSO | AT&T | BDO | BCG | Business Review | TechRepublic

What you should do now

Below are three ways we can help you begin your journey to reducing data risk at your company:

  1. Schedule a demo session with us, where we can show you around, answer your questions, and help you see if Varonis is right for you.
  2. Download our free report and learn the risks associated with SaaS data exposure.
  3. Share this blog post with someone you know who'd enjoy reading it. Share it with them via email, LinkedIn, Reddit, or Facebook.

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