Security budgets for IT are consuming ten per cent of operating budgets.
Amidst growing concern over data breaches and the need to protect data, Forrester Research has revealed that operating budgets rose from two to eight per cent last year.
In a survey of over 1000 companies in North America, 21 per cent expect to increase IT security spending in 2009, compared with six per cent who expect security spending to decrease - the rest will keep their security budgets stable.
Analyst Khalid Kark said: “I remember when the security budget was less than four per cent of the IT budget. This number is amazing. In this tough economic time, three out of four of us are saying we're going to keep this ten per cent budget and one in five of us are saying we're going to increase this budget in the next 12 months.”
However Kark claimed that a higher spend brings greater scrutiny and an organisation-wide focus on security also brings higher expectations, and sometimes conflicting expectations from the various departments in a business.
The research also revealed that IT security professionals are enjoying greater influence with business executives as security has been the top priority for CIOs in Forrester surveys for four straight years, and 30 per cent of security decision-makers surveyed report having a ‘dotted-line relationship' with the board or CEO. A further 19 per cent reported that they have direct links to the executive committee.
Kark said: “I think times have changed, I remember the time when I had to wait two weeks to get a meeting with the CIO, let alone the CEO.”