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March 2003

Security spending on a tight information security budget

Isn't it funny how anyone who doesn't work in infosecurity automatically assumes that security's budget cup runneth over? Well, maybe not funny. More like, sad. The assumption that IT security budgets are growing across the board is a myth, according to an Information Security survey of 518 senior security managers. Almost half of survey respondents said that FY 2003 cybersecurity budgets will either decrease (17 percent) or be flat (30 percent) compared to FY 2002. Another third said their budgets will increase by less than 20 percent. Only 16 percent said budgets will increase by more than 20 percent. "We're still under very tight budget constraints in general," says Warren Axelrod, director of global information security for Pershing, a New Jersey-based financial services firm. Any bumps in the budget will be small, says Bill Boni, CISO of electronics giant Motorola. "We're seeing an incremental increase in our budget," Boni says. "But it's modest, and it's procured through business case analysis, not a once-a-year, 'throw ...

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