Security spending will be immune to the downturn

Consumer trust in online services relies on investment in security, a survey has found

Security spending will survive the downturn, IT staff believe

IT professionals do not expect cuts in security spending, but believe the economic downturn has increased pressure to ensure efficiency and value, according to a survey.

The majority (82 per cent) of respondents to the survey by infrastructure services supplier VeriSign said cuts in IT security spending would hurt businesses in the long run.

Only 17 per cent expecting cuts to IT security spending in the event of cuts, while 75 per cent said a reduction in staff and overhead costs would be most likely.

Businesses need to proritise security and consumer trust, said Mike Davies, director of identification and authentication services at VeriSign for Europe, the Middle East and Africa.

“As consumer confidence erodes in the economic downturn, it’s important that businesses encourage trust in online services," he said.

"Security and trust need to be top of mind for businesses wishing to maintain the recent boom years of online transactions in today’s economic climate.

”Online security is a two-way street and everyone needs to play their part to ensure a productive and safe virtual world.”