Enterprise spending on cybersecurity has changed, and vendors must adapt
Even in the usually exciting world of cybersecurity, discussions on enterprise security budgets tend to veer toward the mundane. However, today's
How has enterprise spending on cybersecurity changed recently?
Recent data indicates that while many companies are tightening their budgets, 45% of cybersecurity budgets have remained unchanged or even increased. Specifically, 33.3% of CISOs reported no change in their budgets, and 12.2% saw an increase. However, another third have experienced budget cuts, and 21.2% are managing frozen budgets.
What are CISOs looking for in cybersecurity vendors?
CISOs are increasingly focused on demonstrating ROI and cost reduction, which together account for 60% of their decision-making criteria when evaluating vendors. They are looking for solutions that can streamline operations and consolidate their security stacks, as many are under pressure to manage costs effectively.
What opportunities exist for new cybersecurity vendors?
Despite budget constraints, 75.8% of cybersecurity leaders are still open to meeting new vendors. Many prefer smaller startups that offer flexible contracts and innovative solutions tailored to their specific needs. Additionally, 26.7% of respondents are utilizing free trials, indicating a willingness to explore new options without immediate financial commitment.
Enterprise spending on cybersecurity has changed, and vendors must adapt
published by Divergent IT
Divergent IT is a tech service operational consulting & strategy firm. Divergent IT partners with CIOs, business owners, and Non-Profits to develop strategy and implementation across their business including: cybersecurity, remote maintenance management (RMM), IT strategy, on-site maintenance and more.
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