As the number of cybersecurity threats has increased over the last decade, CISOs and their teams have benefited from budget increases. This wellspring of security spending was meant to help organizations create more resilient infrastructures, repel outside attacks and reduce the risks presented by data breaches and leaks.
And now the COVID-19 pandemic may change all that.
As stay-at-home orders begin to lift and some workers begin to return to physical offices, organizations large and small are coming to grips with the aftermath of staying closed for months, with indicators signaling that many parts of the world could slip into an economic recession, or worse, a depression. As a result, overall IT spending is likely to take a hit, which may affect cybersecurity budgets, as well.