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Security budget for firms in Singapore increased last year: Computerworld Security Summit 2015

Nurdianah Md Nur | March 6, 2015
However, security still lacks support from top management, as stated by 32 percent of the delegates.

Given the string of major data breaches that occurred last year, security is gaining importance in most organisations.

Nearly half (46 percent) of the 225 information security officers who attended the Computerworld Security Summit 2015 Singapore yesterday (5 March 2015) claimed that their budget for security last year increased as compared to that in 2013.

However, security is still struggling to find its way to the boardroom agenda. Seventy-one percent of the delegates said that their CEOs do not have a full picture of their organisations' security policies. Lack of support from top management was also cited by nearly a third of the delegates as the biggest challenge to implementing security policies.

Other top barriers of deploying security measures include sourcing for appropriate technology (25 percent), cost (16 percent), and training employees from other departments on security (12.6 percent). This finding slightly differs from the poll carried out at last year's edition of the Computerworld Singapore Security Summit. Back then, finding suitable support staff (19 percent) was one of the top barriers while only 6 percent of the respondents said that sourcing for appropriate technology was a barrier to security deployments.

When asked about the qualities that are important to a security solution, delegates said that it was imperative for the product or technology to be able to integrate with existing systems (40 percent). Reputation or track record of the vendor also plays a part in influencing 23 percent of the delegates' decision to deploy a security solution.

  The Computerworld Malaysia edition of the show is scheduled to be held on Thursday (12 April 2015) in Kuala Lumpur.

 

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