Today’s IT landscape across Asia-Pacific companies is developing rapidly with flexible cloud solutions and the need to scale IT environments based on the current economic situation. So, what should companies consider to reduce IT costs without risking their data security?
When reviewing IT costs, companies should start by examining any technology lock-ins. Are you trapped in lengthy, expensive contracts with technology that isn’t keeping pace with current advancements? This can lead to significant financial risk, losing the opportunity for flexibility and adaptation to current circumstances, both financially and technically.
Avoid static solutions
Many companies choose to buy a complete solution consisting of both software and hardware, effectively locking themselves in for several years. This situation means that for those years, they have no opportunity to reduce IT costs or adjust their IT environment to changing financial circumstances. A preferable alternative is to opt for a subscription solution, where you make monthly payments for only the software and solutions you use. This approach gives the company the flexibility to switch to more affordable solutions or to update their technology as needed in a more flexible way.
Adapt the IT landscape to the current threat picture
The challenge with choosing the right security and backup solution is that you can never know several years in advance what the company’s needs will be or what the threat picture from cybercriminals will look like. This is another reason not to lock yourself into a multi-year contract with a security and backup solution that might become outdated. While most cybersecurity and backup vendors update their products over time, often one update is not enough. You might need a completely different type of solution as you scale your business up or down, or if a new type of threat emerges in the threat landscape that your current solution cannot protect against.
Don’t skimp on the wrong things
During the current recession, most companies are looking at where they can cut their costs. In this context, it’s essential to be cautious and not inadvertently play into the hands of cybercriminals. Cybersecurity and data recovery are two critical areas that always require sufficient funding, especially as cybercriminals tend to exploit economically difficult times. These criminals often target companies that cut down on their security spending to manage their financial constraints.
When it comes to data protection, the overall situation for companies is not yet satisfactory. This year’s Veeam Data Protection Trends Report indicates that 79% of companies have a “protection gap” – a discrepancy between the amount of data they can tolerate losing and the frequency of their IT data backups. Cybercriminals easily exploit this gap, leading to further deterioration in security. This gap tends to enlarge if companies decide to cut back on their backup and security measures.
The future is flexible
It is still important to maintain good flexibility in the technology you use. This entails managing the solutions your company has in a way that allows allocation of budget to the appropriate areas. If you have subscription-based services for cybersecurity and backup, for example, you might opt to free up funds from the cybersecurity solution by replacing it with a more affordable one, better suited to current cyberthreats. This allows you to redirect budget to the backup solution, especially if there’s a significant increase in ransomware threats against your company. This kind of flexibility is only possible when you are not restricted by static and lengthy contracts.
The ability to be flexible is an important watchword nowadays. Therefore, investing in technology that enables this flexibility is important. A practical approach is investing in solutions that enhance the potential for automated services, which can free up time for IT staff, allowing their resources to be allocated to more critical tasks. The growing capacity to analyse data today means that the ability to automate tasks is expanding, presenting a valuable opportunity for companies looking to make their IT operations more efficient.
All companies need to consider ways to cut costs – in these times, cost efficiency can be critical for survival or failure. Therefore, making the right choices is vital to ensure a healthy company economy. Incorrect decisions could expose the company to increased security risks, potentially jeopardising its existence. Thus, it’s crucial to make wise decisions and move away from costly, inflexible, and long-term contracts, ensuring sustainable business operations both now and in the future.
