A Ray of Hope in IT Security Spending

Ralph DeFrangesco

Last week during the RSA conference in San Francisco, CompTIA released its 7th Annual Trends in Information Security survey. The survey addressed spending trends in security on an international basis. International companies that recognize the importance of IT security and the fact that it is "mission critical" today are willing to put their money where their projects are.

 

According to the report, 45 percent of organizations in the U.S. reported that there would be an increase in spending in 2009, while 52 percent reported that spending levels would remain at 2008 levels. India and China reported greater increases in IT security spending -- 68 percent and 64 percent, respectively, for 2009.

 

I spoke to the security professionals that I know and not one is seeing an increase in spending this year. In fact, I ran into a few that are cutting back. A company that cut back in spending has recently affected me and I lost the project work there through the end of the year. From what I am hearing, most CIOs are taking a wait-and-see position. Most financial decision makers want to see how and when the economy will recover before committing dollars for future projects. Since I do a lot of work with financial institutions, my observations tell me that most are waiting to see if there will be more regulations that they are going to have to comply with due to the recent problems with financial companies.

 

Working in security, I am always glad to see an increase in spending. I think it says a lot about a company when it spends money in tight times, and 45 percent of companies are planning to do so. Now that's a ray of hope in this down economy. Is your organization spending less, leveling off spending, or increasing spending?



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