With the current economic downturn and most companies slashing their IT budgets — including allocations for security — IT security experts are offering suggestions for how to maximize funds and resources, as well as what kind of mindset we need to assume during a recession. These are not only tough times, but different — and yes — changing times. An 8-minute video on searchsecurity.com, “Security Strategies During a Recession,” provides tremendous food for thought from seven such experts. For example, as everyone from President Obama to Warren Buffett frequently points out, a budget crisis is an opportunity to become more efficient — to figure out where costs can be reduced, where money can be saved, where operational efficiencies can be incorporated.
With respect to security, IT managers will need to plan VERY wisely, especially since this is a time when people who commit fraud will become more creative and much more prevalent. Therefore, one thing IT staffs do not want to cut back on is vigilance. As the IT security experts point out, it’s even more important now to assess risk and seek out ways to reduce it. IT managers must also reprioritize risks according to which ones have the greatest return. One other idea was to focus on the problem(s) and become part of the solution — perhaps a piece of advice to keep firmly in mind as job security becomes as much of a concern as IT security.