IT security budget still low amongst SMBs — Kapersky
KUCHING: According to statistics from the Kaspersky IT Security Calculator, budgets at 45 per cent of small and medium businesses ( SMBs) and 50 per cent of enterprises are below the average spend – which is US$205,000 for SMBs and US$8 million for enterprise businesses.
This is even though cybersecurity spending is growing year-on-year with almost nine per cent growth in 2019, according to Gartner report.
“Budget planning is a very important process for companies as proper investments ensure a company is ready to meet current cybersecurity challenges and threats. Though it may be a complex task which demands a good understanding of business needs towards cybersecurity, how to address them and how much it can cost,” commented Kaspersky B2B Product Marketing head Sergey Martsynkyan.
Knowing how much money is spent on IT security across the industry allows companies to understand where they are in the market, to compare their budget with other players and even improve planning.
Globally, IT security budgets are demonstrating positive dynamics: as a number of analyst reports show, they continue to grow year on year.
Kaspersky’s own survey of almost five thousand organizations across the world confirms this trend with 70 per cent of respondents showing they expect their IT security budget to increase in the next three years.
However, statistics from usage of the Kaspersky IT Security Calculator in October 2018 to 2019 revealed that some businesses are not keeping up with this trend, as their IT security spending is even lower than average.