The Post-coronavirus Economy and Cybersecurity Planning

The economic downturn caused by the coronavirus will place financial pressure on cybersecurity budgets, forcing more intelligent spending.

The efforts of enterprises and governments to adapt to the Covid-19 pandemic have been admirable, but we have only seen a glimpse of the financial pressure enterprisesand their security budgetscould face.

Cybersecurity faces multiple challenges all at once. The coming crunch means that information security budgets will be under more pressure than ever, all while dealing with greater risk. Add to this the fact that security teams are already challenged by managing large alert volumes and spending 15 percent of their available time combing through alerts to determine which of their 3,000 daily notifications are worth looking into. 

Today, many enterprises operate under the assumption that increasing cybersecurity spend increases protection. This assumption has proven to be false. The economic effects of the coronavirus will incentivize CISOs to apply their budgets in a more cost-effective manner, focusing on solutions that give them tangible results. For too long, the industry has lacked the ability to adapt security postures based on confirmed compromise information. Answering that lack has become imperative.

Some industry experts say that cybersecurity will never be the same after coronavirus and we must assume that more workers will stay at home after the crisis, making a lasting effect on cybersecurity as we know it. The call to action for CISOs is to understand that we may not be going back and to get used to stretching every dollar. 

At Lumu, we have long believed that cybersecurity was in desperate need of a true breakthrough. But we could not have predicted the overnight disruption of the enterprise as we know it, making the need for increased compromise visibility not only imperative but also urgent.  

The ability to use facts to be precise in decision making has never been more relevant. Lumu’s Continuous Compromise Assessment™ not only detects individual compromises within your network infrastructure but also measures the level of compromise by closing the feedback loop. This allows you to set a baseline for the effectiveness of your security systems and employ your budget towards lowering this baseline. Consequently, you can understand where additional investments are required, where technologies are under-delivering, and where there are opportunities to realize efficiencies. 

We invite you to sign up for the Free version of Lumu, so you can experience the power of Continuous Compromise Assessment with no strings attached.

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