Top Strategies CISOs Can Use to Control Hefty Security Costs

23
Top Strategies CISO

With the increasing security challenges globally, IT leaders are actively experimenting and practicing proven methodologies to keep security costs organized amid the looming economy.

The marketplace is seeing increasing digital transformation efforts across industries amid the pandemic. This has led to CISO reallocating their planned IT and non-IT budgets and prioritizing technology and network security to manage the sudden shift among the dispersed workforce.

Managing costs could have a direct, positive influence on IT spending – allowing a company to stay afloat amid the global crisis.

  • Tracking employees’ logging data

It is essential for IT security leaders to focus more on remote employee logs and control their network activity. Organizations have seen an explosion in the volume of remote access logs data with people moving to remote work model.  Basically, entering more data into the security, information, and event management system (SIEM) can help in better log management.

Read More: Security profile needs transformation along with digital transformation

However, for cost-cutting, enterprises need to ensure that only the objective data type is implanted in their SIEMs – because referring to all data can waste the operational expenses. Thus, a thorough evaluation can help companies reduce most of SIEM’s daily data ingestion.

  • Keeping the essential licensing only

Many companies often forgot or could not look after what licensing was paid for on a monthly basis at the beginning of COVID-19. The contract concept agrees organizations to call off the licensing if the users are working from home – since it is not needed. Businesses can subscribe to licensing whenever they need it.

Hence, the decision-makers are required to start the practice of lowering the off non-essential licensing. Companies have the trait of having an excess number of licenses for helpdesk, email, and other essential services. And now, the new licensing model needs to be implemented, which allows them to slash costs, saving a few the company’s expenses.

  • Migration to the cloud

Today, cost-effectively migrating to the cloud is highly indispensable. Business leaders are putting the right elements into the right cloud infrastructure, basing that infrastructure on precise components. This is undoubtedly helping them to sustain amid the turmoil.

Furthermore, it is essential for businesses to realize that controlling security costs indicates spending the right money on much-needed upgrades and technologies. Besides, it is vital to determine how to scale back the existing systems.

Read More: Cybersecurity – On Top Priority by IT Leaders for Digital Transformation

As per experts, companies need to spend wisely – look for advantages with all purchases in such trying times. For this, a regular evaluation of the existing operational budget is a must. According to a recent Pulse study, nearly 75% of IT budgets were frozen in May 2020.

Clearly, many enterprises are looking out ways to control their IT costs since the security budgets of companies have taken a hit. Thus, it is crucial to control costs amidst the economic downturn by practicing successful measures.