Over recent years, despite pressures on budgets, security spending continues to rise in response to board level focus on cyber attacks and data breaches. In 2022, 69% of organisations said they expected to boost cyber security spending, with 26% envisioning their security budget increasing by 10 percent or more.
For more interesting security statistics, take a look at our Thought Leadership paper - Cyber Security Leadership Is Broken,
Whilst organisations are actively investing in security improvements and technology, it is increasingly important to balance the pace of new investments to address evolving threats, with a focus on operationalising current technologies, so as to maximise your return on investment and realise the full value from both existing and emerging capabilities.
This blog walks through our top tips to investing in new technology whilst making sure that the value of existing technology is realised and how Savanti, part of FSP, can help your organisation to achieve this.
Top tips for investing in new security technology
- Review your existing tech stack for gaps
It is important to have a holistic view of all the technology your organisation is leveraging in order to determine if there are any gaps against an agreed baseline of security controls that may need to be addressed with new investments.
Carrying out a comprehensive assessment, will give you full visibility of what improvements need to be made and how these need to be prioritised. This can be used to justify your plans and secure budget, build confidence with stakeholders, and provide a foundation for measuring improvement.
- Seek to minimise overlapping capabilities
Security is best implemented using a multi-layered approach for ‘defence in depth’. However this can also lead to duplication of controls, without necessarily providing a further layer of security, and/or alert fatigue for your Security Operations Centre (SOC) which in turn can lead to:
- Increased time to respond to incidents
- Difficulty to distinguish between genuine threats and false positives
- Confusion on what to prioritise based on events being reported in different ways
When assessing new technologies, a comparative assessment should take place to understand how the capabilities overlap with the existing stack. Avoiding any overlap can be hard to achieve, but understanding the cross over can help inform decisions on whether to optimise, replace or augment existing technologies.
- Take people with you
When investing in a new security technology it’s important to take both senior and technical stakeholders with you on the journey. Executive level stakeholders (like CFOs, CEOs etc.) need to understand and be convinced on the value to release funds, but that value will never be realised if you’ve not done the legwork to bring operational teams with you.
Including stakeholders early on, in order to identity business drivers, as well as technical and operational requirements, will ensure that everyone understands why the technology is being introduced, how it fits the wider security strategy, and crucially, how the value will be realised.
How Savanti can help you
Savanti’s Security Architecture and Technology services can provide you with an experienced team of experts dedicated to supporting you to deliver both tactical and strategic services. Our Security Optimisation and Innovation service can provide your organisation with complete tech stack assessments, and/or bespoke technology comparisons, to help you maximise the value from your technology investments, whether existing or new.
Our expertise covers a considerable amount of security technologies and we can offer an independent and vendor-agnostic evaluation of new and existing technologies to help you realise the full potential of your investments.
Please visit the chat function on our website or fill in the below details if you would like more information on how we can support you with your strategic security technology roadmaps.