IT Security Spending Will Increase to Match Rising Cybercrime Threat in 2009

Finjan’s Web Security survey finds that enterprises increase their IT security budgets for 2009 while their overall IT budgets tend to be reduced

Farnborough, United Kingdom, January 2009 - Finjan Inc., a leading provider of secure web gateway solutions for the enterprise market, today announced the findings of its IT security survey conducted during December 2008. In light of the economic downturn and rising cybercrime attacks as indicated in Finjan’s Web Security Trends Report Q4 2008, Finjan conducted an online survey among 200 IT and security professionals. The survey focused on determining the trends for allocating IT budgets in 2009 compared to 2008.

The results reveal that the total IT budgets for 2009 tend to be reduced compared to 2008. However, the IT security budget outlook was more optimistic since organizations intend to dedicate a larger part of their total IT budgets to IT security.

Key findings from the survey:

  • 38% of all respondents stated that they do not expect a change in their 2009 IT budgets, while 34% indicated that they expect them to be slightly smaller - reflecting the general declining trend in corporate budgets.
  • 34% of the respondents indicated that their IT security budgets for 2009 will increase, indicating a general trend that organizations will allocate a larger part of their overall IT budget to IT security. 43% of all respondents expect their IT security budget for 2009 to remain the same.
  • The survey also found that the upward trend in IT security budget allocation was more pronounced in the financial and governmental sectors than in others.
“During an economic downturn it is to be expected that all budgets come under scrutiny. Organizations are trying to get the most out of their spending and reduce the Total Cost of Ownership (TCO) of their IT investments – efficiency being the name of the game.” said Yuval Ben-Itzhak, Chief Technology Officer at Finjan. “While 2008 saw IT security departments facing new challenges in protecting valuable business data against an ever-increasing wave of cybercrime attacks, 2009 is adding a further economic challenge to the mix. As a result, organizations are looking for a comprehensive security solution with low TCO that covers all their Web security needs and is also simple and easy to manage.” added Ben-Itzhak.

Finjan is a global provider of secure web gateway solutions for the enterprise market. Our real-time, appliance-based web security solutions deliver the most effective shield against web-borne threats, freeing enterprises to harness the web for maximum commercial results. Finjan’s real-time web security solutions utilize patented behavior-based technology to repel all types of threats arriving via the web, such as spyware, phishing, Trojans, obfuscated code and other malicious code, securing businesses against unknown and emerging threats, as well as known malware. Finjan's security solutions have received industry awards and recognition from leading analyst houses and publications, including Gartner, IDC, Butler Group, SC Magazine, eWEEK, CRN, ITPro, PCPro, ITWeek, Network Computing, and Information Security. With Finjan’s award-winning and widely used solutions, businesses can focus on implementing web strategies to realize their full organizational and commercial potential. For more information about Finjan, please visit: www.finjan.com.

Source: Eskenzi PR Ltd.
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