According to the latest Cisco report "The Security Bottom Line: How much security is enough?", 46% of large companies with up to 1000 employees spend up to $250,000 a year on cybersecurity. In turn, 50% of corporations employing more than 10,000 people spend at least one million USD on this purpose. Yet more than 80% of all companies, regardless of size, say it's enough to provide only part, not all, of the minimum level of security they need.
IT specialists point out that the impact of cyber attacks is increasing. 45% of respondents to the 2019 CISO Benchmark Study indicated that the cost of a single cyber attack on their organization was more than half a million USD. In more than 50% of cases, the cost was less than $500,000. 8% of respondents said that the most significant cyber attack last year caused losses of more than 5 million USD.
Spending $250,000 per year may seem daunting, especially for smaller companies. Thankfully, they can now purchase advanced security solutions in a subscription model, instead of incurring a one-time expense. Then the amount should not seem so huge.