Westport, CT (PRWEB) October 30, 2014
Board members and senior managers need to make sure the enterprise’s IT systems are not taken over on their watch. Often, they just don’t know how much more should be spent on security, and where the more than incremental investment should be allocated.
Recent research by Saugatuck Technology shows average spend on security is a pitiful one-quarter of one percent of annual revenue, or annual operating budget, while financial risks averaging 14 percent of revenue with a 1-in-20 chance (or better) your systems are owned by a cyber-thief. The odds – and gains – are in favor of the Cyber-criminals.
These are among the key insights and guidance from a new 16-page report released today by IT business strategy firm Saugatuck Technology, Inc. The comprehensive report, entitled “Cyber Risk and Spend on Security: How Do You Compare?,” is available today without cost to Saugatuck’s ongoing subscription research clients, and available for purchase and downloading by non-clients.
“Only Wall Street has the same incentives and earnings power”, said report author and Saugatuck Strategy Consultant Jim Hurley. “The difference is the thieves are now targeting the money centers.”
“Companies of all sizes are clearly at risk given the substantial under-investment in cyber security assets that has and is occurring,” shared Saugatuck founder and CEO Bill McNee. “We see substantial opportunities for providers of cyber security solution to help buyers and users understand and implement effective initiatives – but it all starts with a substantial increase in budget.”
This Saugatuck Strategic Report summarizes and presents key insight into what others are spending and realistic spending levels for security that will transform the enterprise from a sieve into a secure digital business.
Readers of this Saugatuck Strategic Research report will learn the following:
- What security spending is today and how it differs by industry?
- What your spending and financial risks are relative to peers?
- The size and motivation of the cyber shadow economy?
- Why doubling your spend on security is not enough?
- Which countries you should worry about?
Ongoing subscribers to Saugatuck’s Continuous Research Services (CRS) can download the report (after signing in to their Saugatuck accounts) by going to http://tinyurl.com/lrq7tpj. Non-clients interested in purchasing and downloading the report can do so by going to http://tinyurl.com/kjshjlu. Saugatuck is pleased to provide media and associated parties a copy for their professional use; please email chris.macgregor(at)saugatucktechnology(dot)com for access.
About Saugatuck Technology
Saugatuck Technology, Inc., provides subscription research and advisory consulting services focused on key market trends and disruptive technologies driving change in business computing. Founded in 1999, Saugatuck is headquartered in Westport, CT with resources in metro Boston, Silicon Valley, and Wiesbaden, Germany. For more information, please visit http://www.saugatucktechnology.com or call +1.203.454.3900.