Top 5 Trends for Security and IT Budget Owners
Industry-wide survey reveals how Security and IT budget owners are addressing ongoing budget challenges.
Spend Trends in 2023
Economic uncertainty. Tighter budgets. Increasing workloads. The job of Security and IT teams has become even more challenging in 2023.
So how are teams tackling these budget challenges? Read on to find out and download the full report for all the key takeaways.
Download now: The Top 5 Trends for Security and IT Budget Owners
Key Findings
Hear how Security and IT budget owners are addressing ongoing budget challenges.
Nearly 2x more budget owners expect to increase investments this year compared to last year.
Cybersecurity is the top area of investment, as indicated by 95% of respondents.
Staffing and training are the areas most
likely to see reduced budgets
With budget cuts and staffing reductions comes an increased focus on efficiency. That’s why Security and IT budget owners are looking to make strategic investments in the next 12 months to operate more cost effectively.
The Shift to Strategic Investments
Past 6 months
26% increased investments
Next 12 months
47% expect to increase investments
Investing in Cybersecurity
To protect the enterprise and its customers, Security and IT teams are prioritizing cybersecurity investments over the next 12 months.
0
%
expect to increase cybersecurity investments
0
%
prefer buying cybersecurity tools instead
of building in-house
0
%
are investing in automation across cybersecurity and infrastructure
Tool Consolidation
IT and Security budget owners are looking to
consolidate tool sets to operate more cost effectively.
57% of respondents are considering consolidating their data processing vendors
Enterprises also looking for vendors that replace fixed contract costs with a consumption-based, volume-based option that can be adjusted
