How much are proactive companies spending on cyber security?

How much are proactive companies spending on cyber security
A recent study by Deloitte US shows how technology and the impact of COVID-19 are increasing the need for cybersecurity in financial firms. It shows that there are more and more cyberattacks and that is driving growth in cybersecurity spending to counter those new threats.

How much are they investing?
The study shows that on average, in 2020, proactive companies in the financial sector invested 0.5% of their global income in cybersecurity, compared to 0.3% a year earlier. This amount corresponds to about 11% of total IT budgets. For reference, they also measured cybersecurity investments in terms of spending per employee. On average, it was US$2,700 in 2020 per full-time employee, compared to US$2,300 in 2019.

Although budgets are growing considerably, it is important to keep in mind that your cyber security plan and strategy needs to be determined intelligently. They are even more important the more money you invest in cyber security. Many companies spend a lot of money without necessarily reducing their risks significantly. Invest intelligently and reduce your risks as much as possible.

Cutting-edge cyber security for small and medium-sized businesses
Whether you need help conducting a security audit, developing a cyber security plan, or if you need to protect your network, StreamScan is there for you. Our team of senior experts is ready to help you. Contact us at 1-877-208-9040 or by e-mail: info@streamscan.ai.