Want to Stretch Your Security Budget? Read Our Guide

In an uncertain economy, getting sufficient funding for security budget projects can be hard to come by. Organizations are being more cautious about spending, which means security leaders must adapt accordingly. They need to be more discerning in how they plan their budgets.

Fortunately, there are ways CISOs and other cybersecurity leaders can gain efficiencies and be smarter about how they conduct operations. Here are four tactics they can employ to maximize their cybersecurity investments:

  • Gain Greater Visibility. One of the best ways to provide the required security for an environment is to gain visibility into that environment to know what needs protecting. Protecting assets that are not at risk for attack is a waste of resources. One key tool for helping to enhance visibility is the software bill of materials (SBOM), a formal, machine-readable record of all the components that go into a software product. SBOMs provide detailed lists of these components, giving security teams a document that reveals the history of the software including which sources provided which components, the dependencies among them and other information. Another important tool for visibility is software composition analysis (SCA). This technology identifies the open source software in a code base, and can automate the tracking and analyzing of open source components and their dependencies.
  • Invest in the Right Tools. Building strong, cost-effective security is not a matter of spending for the sake of spending, but investing in the most effective tools. Oftentimes the key to the most efficient security is deploying automation, which can save teams time, decrease errors and increase the ability to address security threats more quickly. Organizations should look for vulnerability management tools that detect, prioritize and remediate software vulnerabilities automatically. A vulnerability management platform that automates these functions can help improve the security posture of an organization in a cost-effective manner.
  • Provide Security Awareness Training. By providing broad training for security awareness, organizations can save money by avoiding costly incidents and the need to deploy additional tools. The need for good security awareness training is even more crucial with the move to remote and hybrid work, because many workers could be accessing company networks from unprotected devices. ISACA, an international professional association focused on IT governance, has noted a number of benefits of information security and privacy awareness training programs, including protection of users’ data; better compliance with data security and privacy regulations; the establishment of an organization’s cybersecurity policy and program; and point-of-contact information so employees know how to react in an emergency response situation and who they should contact.
  • Invest in Security Culture. Organizations need to create an overall cybersecurity culture that takes into account all facet of the enterprise including software development. By investing in a culture that makes security a priority, they might be able to avoid the need for costly tools and services. One of the best ways to build a security culture is to adopt DevSecOps, a methodology that brings together security and development professionals in a joint mission to create secure products. DevSecOps is designed to make cybersecurity a basic component of the software development lifecycle, and integrates security into each phase of software development. With DevSecOps, security is no longer an afterthought with software development but a key part of the process.

To learn more about how to get the most out of your security spending, read our ebook Maximize Your Security Budget: 4 Steps to Squeeze Every Dollar.


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