How are Security Leaders Thinking of 2021 Budgets

The rapid rate at which security technology is evolving can make it challenging to evaluate and measure the success of security systems. However, you can properly monitor the effectiveness of your security system and strategy by clearly identifying your desired outcomes and aligning them with your budget. Cisco Secure conducted the Security Outcomes Study in 2020 to provide a better understanding of what areas security leaders should invest in to achieve the best outcomes in 2021. Take a look at some important findings of this study.

What Is the Security Outcomes Study?

The Security Outcomes Study is an extensive survey that involves more than 4,800 correspondents from 25 countries. It aims to determine the factors that contribute to an effective and efficient cybersecurity system. In its endeavor to achieve its primary objective, the study also answers many questions on the minds of security leaders and professionals, such as:

  • How can an organization properly manage cybersecurity risk?
  • Does a bigger security budget always lead to better outcomes?
  • What are the areas of security that a company should focus on to build a strong cybersecurity program?

By evaluating how different organizations achieve certain security outcomes, the Security Outcomes Study gives you an idea of the measures you can take to meet your specific security goals and objectives. Additionally, you'll better understand the latest trends driving cybersecurity strategies.

What Are the Success Factors for Achieving the Best Security Outcomes?

In the Security Outcomes Study, security leaders are asked to explain how they achieved success in the following areas:

Security Culture

A strong security culture plays a vital role in the implementation of an effective cybersecurity strategy. It ensures that everybody in your company clearly understands the importance of cybersecurity and makes a conscious effort to comply with your security policies. According to the survey, the most effective measures for improving security culture include:

  • Giving employees adequate tech to meet their needs.
  • Providing a clear sense of direction.
  • Promptly fixing malfunctioning systems and devices.
  • Accurately detecting cybersecurity threats.

Risk Management

Risk management is arguably the most important responsibility of your cybersecurity team. It can be a complicated and difficult task due to its multifaceted nature. Below are some of the top factors contributing to successful cyber risk management:

  • Ensuring prompt disaster recovery.
  • Providing the necessary tech for preventing and handling cyber attacks.
  • Implementing effective security program performance metrics.
  • Developing a proactive tech refresh program.

Compliance With Regulatory Requirements

Striking the right balance between security objectives and compliance directives is one of the most challenging tasks of a security leader. Security teams employ a wide range of measures to improve compliance, with the most effective ones being:

  • Creating a sound proactive refresh tech strategy.
  • Promptly remediating security vulnerabilities.
  • Responding quickly to cyber incidents.
  • Providing executives with clear reports.

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