Cybersecurity Budgets Drop Despite "Significant Enterprise Value," Says E&Y Report
Infosecurity Magazine
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Contributed by: Drex DeFord
Summary
A recent Ernst & Young (EY) survey reveals that cybersecurity teams can generate significant enterprise value, averaging $36 million per initiative, but budgets for these teams have dropped from 1.1% to 0.6% of annual revenue over the past two years. This decline indicates a missed opportunity for organizations to leverage cybersecurity investments as a means of value creation rather than merely viewing them as a risk mitigation expense. Furthermore, only 13% of Chief Information Security Officers (CISOs) are brought into strategic decision-making processes early, highlighting a gap in acknowledging their potential impact on business growth. The study underscores the need for healthcare professionals and executives to reassess how they integrate cybersecurity into broader organizational strategies to optimize both security and business outcomes.
