Security, the top IT funding priority

What is your company currently focusing on now? Is it looking into expanding its size or perhaps heading for digital transformation? Regardless of how the company is evolving, any sort of change or improvement requires funding.

Even if you have come up with a super-duper transformation plan, it wouldn't work without proper funding.

The more you brainstorm, the more ideas you gain on improving your business. Although it seems exciting to get started with these ideas, you must be wise in prioritizing them. Which should you act upon first?

Takeaways on Security Funding

From what was observed from a research by Red Hat's Global Tech Outlook 2021, there seems to be a growing trend in security enhancement amongst IT companies. Notably, security tops the chart with 45 percent respondents saying that it was their top priority. 

Previously, security was very much under-prioritized and underfunded when it came to business planning. However, the Covid-19 pandemic could be the main factor to this notable change as more and more companies shift toward the Internet and digitalization due to remote work policy.

Furthermore, the retrieved data from the research suggested that many IT leaders believe that improved security means improved efficiencies. Hence, there could be a growing number of security implementations in future to prevent problems from arising as cyberthreats become more dangerous.

Network security came first in the list with 42 percent followed by both cloud security and data protection and privacy. 30 percent of the respondents also named threat detection and prevention as a leading priority on security funding.

It surely is relieving to see security funding being made as one of the top priority than it used to be. This goes to show that there is an increased awareness in cybersecurity and companies are actually doing something about it.