In addition to investing in cybersecurity software, services and hardware, businesses should also consider low-cost common sense actions to anticipate cyber intrusions. (Photo: Shutterstock)
According to research sponsored by International Data Corporation (IDC), businesses worldwide will spend more than $100 billion on cybersecurity software, services and hardware in 2020. Of this amount, IDC estimates one-third will be spent by businesses in the United States.
To a certain degree, fear is driving this financial commitment. No management team wishes to be the next Equifax, Target, Sony or Yahoo, forced to report a massive data breach to shareholders, strategic partners and customers.
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