Why COVID-19 Budget Cuts Shouldn’t Include IT Security Spend – Expert Source

IT leaders and managers are moving beyond business continuity, evaluating budget cuts and tighter spending controls to help weather the COVID-19 crisis and the economy’s certain tailspin. PwC recently released a survey revealing the financial measures top business leaders in the U.S. are evaluating to minimize and manage business impact.

Unsurprisingly, more than half of PwC’s survey respondents (67%) are considering deferring or canceling planned investments. Of planned initiatives, 2% are considering cybersecurity and privacy budget cuts, while 53% are looking at reduced IT spend. Another 25% may scale back digital transformation initiatives, which is surprising given the number of businesses forced to expedite remote working connections and capabilities over the last month.

Experts Comments

April 17, 2020
Jordan Rackie
CEO
Keyfactor
Working from home has accelerated the number of connection points in the network and the certificates and keys that ensure authentication and baseline protection. Having visibility to those connections is critical to managing them. The margin for error is slim and mismanagement can cause systems disruptions, outages and even security breaches.

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