In 2015, global cybersecurity spending is expected to reach an all time high of $76.9 billion. However, the majority of IT executives anticipate receiving only half the funding to executive their preferred organizational security strategy. This disconnect is common when it comes to capital planning, but the risk of underfunding cybersecurity defenses has never been greater.
On average U.S. businesses fall victim to 1.7 successful cyber attacks per week and incur annual cost of $12.7 million to remediate the impacts of these events. The frequency, complexity and costs associated with attacks is also increasing, with financial damage up nearly 10 percent in the last year alone. Despite these trends many organizations are reluctant to increase cybersecurity spending because they are unable to accurately quantify the financial value of prospective benefits. However, with the right methodology and tools, these organizations can make more calculated cyber investment decisions and channel available funds to address the highest priority security needs.
2015 Energy Industry Cybersecurity Report
Strategic Cybersecurity: A Toolkit for Prioritizing, Coordinating, and Transforming Your Cybersecurity Program