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| Home - Industry Article - Dec 03 Issue |
Budgeting Trends for Information Security
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Security Importance and Priorities
Sixty-six percent of "Trendsetter" CEOs cite information security as important to their company's profitable growth over the next 12-24 months. Further, 79 percent suffering recent breaches or espionage see information security as important, including 48 percent who rate it "very important" or "essential."
But, is this importance fully reflected in budget allocations? On average, fast growth CEOs expect to spend 1.9 percent of their 2003 operating budget on information security, about the same as they did in 2002 (1.8 percent). Viewed separately, 15 percent will be increasing their expenditure level, and two percent will be decreasing it.
And, more CEOs who have experienced a recent breach or espionage have established information security priorities for the next 12 months:
| Suffered Breaches/Espionage |
| |
All
Companies |
Any |
None |
| Train/retrain staff |
30% |
35% |
26% |
| Define security responsibilities |
26% |
29% |
24% |
| Develop security policy and standards |
25% |
25% |
24% |
| Form incident response policy |
20% |
21% |
20% |
| Create data ownership/classification standards |
20% |
23% |
18% |
| Establish policy for outsourced applications |
12% |
15% |
10% |
| Add qualified staff/guards |
6% |
7% |
5% |
"Unless more attention is given to information security budgets and priorities, many of these fast growth companies could be placing themselves at risk," said Lobel. "This situation may be like replacing your windshield wipers—you're wise to change them on a sunny day, to be prepared for a rainy one."
PricewaterhouseCoopers" "Trendsetter Barometer" is developed and compiled with assistance from the opinion and economic research firm of BSI Global Research, Inc. PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services for public and private clients. More than 120,000 people in 139 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders. "PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
If you have a question about this "Trendsetter Barometer" survey, please contact Pete Collins at pete.collins@us.pwc.com. For more information about Barometer surveys, including recent economic trend data and topical issues, visit: www.barometersurveys.com
 
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