One out of two firms prefer IT security to cost cutting

Share this article:

One in two UK businesses regard IT security as a higher priority than cost cutting.

According to research from 3Com, 48 per cent of IT directors surveyed said they saw IT security as more important than saving money.

"It's great to see the majority of enterprises are realising the importance of security," said Neil Venus, security solutions director at 3Com. "However, this survey suggests that a great many companies are still compromising on the security of their networks due to budget constraints, which is an extremely worrying trend."

The results demonstrated a possible upturn in IT spending, but showed the in the last 12 months one in five enterprises (18 per cent) jeopardised security as a result of budget constraints.

Medium-sized enterprises favoured collaboration strategies over cost cutting, which 3Com said, indicated that companies are looking for strategic investments.

"Businesses that do not allocate adequate funds to IT security could lose their intellectual property to theft; their data is at risk from destructive hackers, and they could find themselves in trouble if they breach the Data Protection Act of 1998," Venus said.

The research showed that the manufacturing sector regarded security as a higher priority than the financial sector. Almost two thirds of manufacturing companies cited security as their top priority compared to just over half of financial companies.

Share this article:

Sign up to our newsletters

More in News

In Cisco probe, misuse or compromise spotted on all firms' networks

In Cisco probe, misuse or compromise spotted on ...

Cisco analyzed the business networks of 30 multinational companies last year, and revealed the findings in its 2014 Annual Security Report.

Fareit trojan observed spreading Necurs, Zbot and CryptoLocker

The Necurs and Zbot trojans, as well as CryptoLocker ransomware, has been observed by researchers as being spread through another trojan, known as Fareit.

Post Heartbleed, tech giants join initiative to bolster open source

Post Heartbleed, tech giants join initiative to bolster ...

The newly formed Core Infrastructure Initiative, created to boost under-funded open source projects, will tackle OpenSSL first.