Increase in IT Security Spending

Increase in IT Security Spending

Security has been one of the major concerns not just in the IT industry, but also in all sectors — like the government — that are taking advantage of technology. Growing needs of a secure technology solution became the focus of government sectors. It is likely to happen that budget for IT security will see an increase in the coming years. This is due to the fact that institutions find it necessary to invest in a more secured IT solution, especially because threats and attacks from cybercriminals have grown rapidly over the past years. Here are four detailed reasons why IT security budget allocation will see a rise in the coming years.

Increased Mobile Device Usage

Many employees and employers are adopting the BYOD (Bring Your Own Device) approach in the business. The use of mobile devices such as smartphones and tablets for work-related purposes increased the need for continuous connectivity between networks and devices. The need to protect the data increased relatively as well since employees store and access sensitive information on their devices. Though this meant a rise in the productivity rate in the corporate offices, this does not take away the fact that smartphones and tablets are not secure and are open to security and data threats. This makes hackers gain access to the organization’s data easily.

Notorious Data Breaches

Since technology has rapidly developed over the years, hackers has adapted to this change and found new ways to access important and sensitive information and interrupt business transactions and processes. One of the reasons of the high number of attacks is dependence to web applications and cloud. Moreover, social media’s popularity made it easy for cybercriminals to gather user data.

Network Security Vulnerabilities

Many organizations became very dependent to web applications because of its countless benefits; however, this can lead to attacks that may affect critical IT infrastructure like that of a government website and web servers. In addition, data and security threats nowadays can only be detected once an attack has been successful. That is why some organizations invest a fortune to make their IT structure secured through IT solutions providers like IT Security Services Australia. And this is the very reason that drives the increase of company spending dedicated to IT security.

Regulatory Compliance

One reason why corporate industries and government sectors adopt IT Solutions Australia is because of compliance. With the emergence of new threats to security, regulatory compliance requirements were strengthened to ensure that organizations are capable of safeguarding their customers’ information like health and financial records. These policies allow businesses to protect customer data from threats and security breaches. A system breach can cause damage not only to the company’s financials, but also to its reputation and can further result to customer’s jumping to competitors.

The rise in number for data theft and fraud led authorities to tighten up regulatory compliance to make sure businesses and organizations have a plan to prevent these attacks to happen, thus pushing companies to invest on a reliable IT security solution that will help them protect not just their business, but also their customers.

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