What do you think will be the key drivers for security spending?
Mike Lloyd, CTO, RedSeal
We are mid-way through the transition to the cloud, leaving most networks as a complex hybrid. Managing that complexity will be a major spending driver. Another key driver is compliance as the regulatory landscape continues evolve new regulations will drive spending. Lastly, cyber insurance will increase in importance in 2020, and this will steer spending towards defences that insurance providers want to see, in much the same way that car insurance drives car safety features.
Ryan Trost, Co-founder and CTO, ThreatQuotient
Security drivers for 2020 include compliance/regulation needs, increase collaboration efforts across roles, and implement ransomware strategies. Compliance is always a driving force for security teams as organisations continue to evolve their security practice amongst slow but steady improvements to global privacy and security regulations. Collaboration across teams during an incident or simply an investigation provides a more effective defensive posture and managers are currently earmarking budget to help with this. Over and over we see organisations fall victim to ransomware attacks and unfortunately companies need to plan for the worst-case scenario. Several third-party vendors have even surfaced which specialise in ransomware payouts; which offers some ‘grey area’ corporate reporting to avoid unwanted headlines.