Outdated Budgets are a Threat to Business Cybersecurity

Its 2020 and business are operating online more than ever before. But many organizations are looking to decrease their overall spending as things move online. That is an issue for cybersecurity teams who are expected to keep the same security, now with more vulnerabilities, while on a lower budget.

Cybersecurity budgets are usually the first to get cut, even in a pandemic when phishing attacks have increased more than 600%. One of the biggest issues that companies are facing is the lack of funds for an up-to-date cybersecurity team/program.

“Cybersecurity budgets aren’t revised for current threatscapes. Even though many organizations are still in the midst of extensive digital transformation, their budgets often reflect the threatscape from years ago”.

When cybersecurity budgets aren’t updated, so are the old security systems and programs. Hackers can easily take advantage of a security system when they use tools that are more updated than the system they’re attacking.

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