Despite the pandemic, boards are increasing investment in security, and organizations expect their security budgets to expand over the next year.

Of the 900 global chief information security officers and information technology decision-makers tapped for Thycotic’s CISO Decisions survey, 77 percent said their boards have okayed investment in new security projects. The sentiment is driven primarily by security incidents in their companies or fear they would fail a compliance audit.

“Our survey found that 58 percent of IT security decision-makers say their organizations plan to add more security budget in the next 12 months,” Joseph Carson, chief security scientist and advisory CISO at Thycotic, told SC Media. “I believe this was a path and direction most organizations have been going down, however it was always a lower priority.”

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