Prioritizing Cybersecurity During Slowdown
Insight from Layer Seven Security, Onapsis, and Rubrik on Cybersecurity Priorities
Meet the Experts
Key Takeaways
⇨ Evaluate ways to improve security preparedness with existing tools
⇨ Observe the changing threat landscape and direct efforts on mitigating threat
⇨ Implement a rigorous patching strategy and stay up-to-date
According to SAPinsider’s latest research on Cybersecurity Threats to SAP Systems, the current economic climate is adversely affecting organizations’ planned cybersecurity projects. While over a third (35%) report that some projects are on hold, 29% are scaling back planned investments in the cybersecurity space. But the impact goes beyond this as one in five organizations (18%) reported a reduction in the size of their security teams. SAPinsider spoke to Jason Cook from Rubrik, Aman Dhillon from Layer Seven Security, and JP Perez-Etchegoyen from Onapsis to get their insights on these challenges.
Cook emphasized that, despite budget reductions, there is still a desire to address cybersecurity risks, especially at the point of data. This corresponds to the SAPinsider’s research finding, which highlights that two of the top five areas of planned security investments are data related: data security tools, second on the list of planned investments, and data encryption, which is fifth on the list.
Dhillon sees that cost is becoming a more important factor in their decisions. Organizations are focusing more on licensing costs and the total cost of ownership (TCO) when evaluating cybersecurity solutions. TCO includes factors such as hardware requirements, installation effort, ease of maintenance, and services such as training and support. They are also investing more time to evaluate solutions and are increasingly performing proof-of-concepts before selecting a solution.
Perez-Etchegoyen believes that there has been a gradual resurgence in cybersecurity investments. While there had been some hesitation about spending for the last two years, projects were not scrapped, but only experienced delays. Many organizations took this time to re-examine and reassess their projects. But now, organizations are revamping and restarting their cybersecurity initiatives due to the unrelenting growth in cyberattacks and systems vulnerability.
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