Building a better value security stack
16th January 2025 • Steigenberger Frankfurter Hof, Frankfurt
In a cost-constrained environment, what tech is must-have, nice-to-have, and best value for money?
Deliver value-for-money security and resilience, de-couple from the IT budget
At the end of August, a report based on the responses of more than 1,000 German companies revealed that in the past 12 months cybercrime and other acts of sabotage have cost German companies around 267 billion euros ($298 billion) up 29% on the year before.
The report also found that 90% expect more cyberattacks in the next 12 months, and 81% of companies reported data theft, including customer data, access data and passwords, as well as intellectual property such as patents.
These are all good tactical reasons to keep spending on cybersecurity. And in Germany, at least the proportion of the IT budget devoted to security is increasing, from 14% last year to 17%.
But there are key strategic reasons to invest in security too. Companies now depend on digital systems for everything from frontline revenue generation to product delivery and the running of their physical infrastructure. Not to mention unglamourous but critical systems such as payroll.
Plus, as indices like the Euronext Cybersecurity World GR show, perceived strength in cybersecurity translates into increased enterprise value.
Over the last year, that index has outperformed the Euro STOXX 50, the MSCI World and the Dow Jones Industrial indices.
So, one key challenge for CISOs is to communicate this link between business and security better – and to try to escape today’s coupling with the IT budget, which rises and falls with the P&L. The sad truth is that there is still a credibility gap between CISOs and the Board.
The other challenge is to build more efficient security stacks. CISOs must be able to define security priorities and demonstrate that current spend delivers these without duplication and under-utilization in their security technology.
They must also look at removing complexity – and so the likelihood of human error – from bloated and overlapping stacks. If core hygiene and human error cause most breaches, then do you need multiple best-of-breed point solutions, or a simpler, but better utilised all-rounder?
Come to the e-Crime & Cybersecurity Congress Germany to find out how your fellow cybersecurity professionals are dealing with these issues now.
