Checklist: IT and security budget planning

Be IT and security budget ready for the next financial year

For CEOs, Managing Directors, and Board Members of mid-size organisations, determining how much to allocate to cybersecurity and technology resilience has never been more critical. Rising costs, supplier inflation, and the growing sophistication of AI-driven threats add complexity to these decisions, making a strategic approach essential.

Organisations that fail to budget effectively for IT security often find themselves reacting to incidents rather than preventing them. In an era where shareholder trust, customer loyalty, and operational stability are at stake, balanced spending on cybersecurity and resilience is not just a necessity but a competitive advantage.

What’s inside...

• Core Budgeting Areas
  Identify key spending categories like cybersecurity tools, training, supplier risk assessments, and resilience strategies.

• Overlooked Essentials
  Don’t forget about often-missed components, such as regulatory compliance needs, cyber insurance options, and inflation-driven cost increases.

• Planning for Emerging Threats
  Incorporate considerations for the growing sophistication of AI-driven cyberattacks and the evolving threat landscape.

• Actionable Prompts
  Gain practical advice to prioritise investments, assess return on investment (ROI), and align your budget with business objectives.

How you benefit

• Comprehensive Coverage
  Ensure no critical aspect of cybersecurity or IT resilience is overlooked, reducing the risk of unexpected vulnerabilities.
  
  
• Strategic Alignment
  Tailor your budget to support overarching business goals, balancing operational needs with financial constraints.
  
  
• Informed Decision-Making
  Gain clarity on what to prioritise, helping you allocate resources where they’ll deliver the greatest impact.
  
  
• Risk Mitigation
  Prepare for both current and emerging threats, such as AI-enhanced attacks, to strengthen your organisation’s defences.
  
  
• Cost Control
  Avoid overspending on unnecessary tools while addressing rising costs with proactive measures like renegotiating vendor contracts.
  
  
• Strengthened Trust
  Bolster shareholder confidence and customer loyalty by demonstrating a commitment to security and operational resilience.

Why Use This Checklist?

This checklist is your go-to resource for building a robust and balanced IT and security budget. It ensures no crucial details are missed, encourages smarter decision-making, and helps you stay ahead of threats while aligning your spending with both current and future business priorities.

Blog post: Risk vs reward: balancing cyber budgets for the next financial year

Organisations that overlook the intricacies of cyber risk often find themselves in reactive mode: plugging holes after incidents occur rather than mitigating issues in advance.

Blog post: Risk vs reward: balancing cyber budgets for the next financial year