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Building a Better Security Budget

The key to smart security spending is assessing your current environment and looking for opportunities for centralization, consolidation and standardization.

Though the final tally is not yet in, it's a safe bet that security spending saw healthy growth in 2014. Gartner in August predicted that global spending on information security would hit $71.1 billion this year, an increase of 7.9 percent over 2013. The firm is predicting a similar jump in 2015.

While organizations are spending more on securing their information assets, are they spending wisely?

Unfortunately, no amount of money can completely protect your organization, said Karl Volkman, chief technology officer at Chicago-based IT services firm SRV Network. "People often look at technology as something that can be perfectly controlled, but it is not. There will never be a big enough security budget to remove all risk," he said.

Follow the Risk

It's best to focus on areas that present the biggest risks, Volkman...(continued)

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