The pandemic has forced leaders across the globe to reconsider security staffing and rethink budgets as everyone retreats homewards to work. New data according to a survey by the tech giant Microsoft suggests that companies all over the world have accelerated the digital transformation of cybersecurity during the pandemic.
Microsoft carried out a new survey in which 800 business leaders of companies (having at least 500 employees) participated. The leaders have led the companies during the pandemic with their employees spread out across India, Germany, the UK and the U.S. Their views were taken into account by the survey to better understand the threat landscape during the pandemic. The survey focused on budgets and staffing and how the pandemic could reshape the cybersecurity on the long haul.
The survey revealed that a high number of businesses were still impacted by phishing scams, security budgets, and the hiring increased during the pandemic. Moreover, Cloud-based technologies and architectures like Zero Trust have seen an increase in investments.
“In order to adapt to the many business implications of the pandemic, a majority of business leaders reported budget increases for security (58%) and compliance (65%). At the same time, 81% also report feeling pressure to lower overall security costs,” says the survey.
For the short-term, companies are working on improving integrated threat protection to reduce risk of costly breaches. For the long-term, 40% of businesses said that they are prioritizing investments in Cloud Security, Data & Information Security and anti-phishing tools. And over 80% of companies have added security professionals in response to COVID-19.