More than half (54%) of companies in the Philippines have made cybersecurity among its priority in terms of budget spending. This is among the most significant findings in Palo Alto Network’s online survey among companies in Southeast Asia.
Conducted in February, prior to the imposed quarantines to curb the spread of the virus that causes COVID-19, the survey also saw that almost half of the businesses (43%) allotted the majority of their IT budgets to cybersecurity. This spending was attributed to the need to upgrade existing security frameworks to automated technologies (67%), a growing volume of cyberthreats (63%), and the result of cyber risk assessment (57%).
“We found out that the budget is earmarked toward upgrading the security system and tools,” said Oscar Visaya, country manager, the Philippines, Palo Alto Networks.
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The survey was conducted among 400 respondents holding a range of management and IT-related roles, representing enterprises from a diverse range of industries and sizes. There were 100 respondents each from Thailand, Indonesia,…
