Articles about budget

New research from tech consultancy esynergy, which surveyed 700 business and tech leaders in the US and UK, finds 74 percent of organizations struggle to optimize cloud spend.

It also finds that 51 percent anticipate making a change to their cloud strategy in response to cost pressures. Increasingly they're looking at FinOps (financial operations) is to ensure that cloud resources are used efficiently.

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A new State of Pentesting report from Pentera shows that 53 percent of organizations surveyed have decreasing or stagnating cybersecurity budgets, requiring CISOs to do more with less.

This compares to last year when 92 percent of organizations surveyed expected to raise their IT security budgets. Only five percent of CISOs this year are projecting their IT security budgets will grow by more than 10 percent compared to 36 percent in 2023.

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IT security breaches are becoming more frequent and costly. According to IBM Security’s Cost of a Data Breach Report 2023 UK organizations shell out an average of £3.4m for data breach incidents. There isn't a CISO around that doesn't wish they had that kind of budget to spend on IT security. The tools to help security teams do their job more effectively are out there, but getting them approved in the annual budget is not guaranteed and investment can sometimes be too late.

So what can UK IT leaders do to make sure they continue to improve their IT security without blowing their budget? Here are eight ways to bolster cybersecurity resources: 

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UK businesses have experienced on average 30 cyber incidents over the last twelve months, marking a 25 percent increase compared to last year.

But a new report from iomart and Oxford Economics finds that 27 percent of organizations think their cyber security budget is inadequate to fully protect them from growing threats. This is despite spending more than £40,000 ($48,000) a year on cyber protection such as vulnerability assessments, penetration testing, and red team engagements.

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Financial pressures have forced businesses to cut their software spend by between 10 and 30 percent, according to a new report from SaaS procurement and management platform CloudEagle.

The EagleEye SaaS Spend report analyzed $400M in transactions via the CloudEagle platform and shows that spending on software is now the third-biggest expense for organizations, right after employee and office costs.

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In 2023, the total average annual cost of an insider risk increased to $16.2 million, a 40 percent increase over a four-year period.

This is among the findings of a new insider risks report from DTEX Systems, based on research from the Ponemon Institute. The study also shows that the average number of days taken to contain an insider incident has increased to 86 days.

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A tug-of-war between finance and cloud leaders is preventing enterprises from controlling their cloud spending, according to new research.

The study from Vertice, of 600 senior finance and tech leaders in the US and UK, shows cutting cloud spending is revealed as the number one cost-saving priority for over a third of finance leaders, but only nine percent of technical leaders say that managing cloud costs is a top concern.

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While 75 percent of organizations have made significant strides to upgrade their infrastructure in the past year and 78 percent have increased their security budgets, only two percent of industry experts are confident in their security strategies, according to a new report.

The study, from critical infrastructure protection specialist OPSWAT, also finds most organizations have embraced public cloud hosting for their web applications, with an overwhelming 97 percent already employing or planning to implement containerization.

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A new global survey of 600 IT decision makers finds that 54 percent say the cloud is vital to balancing their IT spending, however, 44 percent are actively looking for ways to reduce and/or control their cloud spend due to economic conditions.

The study, from database platform Couchbase, finds that on average enterprises spend $28.91 million on cloud services, resulting in an overspend of approximately $6.5 million.

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From rising collaboration expenses to a need for more devices per employee, hybrid work models have driven a need for new investments in workplace technology.

However, a significant portion of IT spend is wasted in a hybrid-first environment, often due to a reliance on manual processes that don't provide much-needed visibility into organizational endpoints.

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Despite significant efforts to become more efficient with IT budgets, respondents to a new survey report underutilization or wasted IT spending of 36 percent for desktop software, 33 percent for data center software, 32 percent for SaaS and 32 percent for IaaS/PaaS.

The study into IT asset management (ITAM) from Flexera shows that software asset management (SAM) programs are saving enterprises tens of millions of dollars. 55 percent of respondents say they saved more than $1 million, and 16 percent claim SAM programs saved more than $10 million in the past year.

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Sustained economic volatility has forced organizations of all sizes to make difficult decisions. Whether it's reducing headcount, lowering operational overhead, or cutting costs in other areas, business leaders are looking to increase agility, efficiency, and flexibility ahead of a looming recession.

Global business leaders are facing a unique set of challenges, and many are looking at their tech spend as an area for cost savings. We spoke to Ryan Newsome, chief technology officer at Motus, about how enterprise decision makers can evaluate tech spend through the lens of value creation rather than simply reducing costs.

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A new study from Vega Cloud on the use of cloud software and services by enterprise IT executives shows 48 percent expect to reduce their IT spending a little or a lot in 2023.

In addition, 65 percent say that reducing their cloud spending will be a goal for this year, while three-quarters of IT execs surveyed say they plan to cut cloud costs by between 10 and 50 percent in 2023.

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Cyberattacks are expected to reach historic levels this year, in both volume and sophistication, yet many organizations are reducing their 2023 cybersecurity budgets.

We spoke to Steve Benton, VP of threat research at intelligence-driven cybersecurity specialist Anomali, to discover how a different approach might offer strong protection without breaking the bank.

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According to a new report, 77 percent of CIOs say their role has been elevated due to the state of the economy and they expect this visibility within the organization to continue.

The 22nd annual State of the CIO report from Foundry looks at how the CIO's role has changed over time, as well as an in-depth analysis of technology and business initiatives that CIOs plan to focus on in 2023.

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