According to a Neustar International Security Council survey, 49% of organizations have enough spending plan to fully meet their current cybersecurity needs, while 11% could only safeguard their most important components at best.
The Neustar report, based on responses from 304 senior-level professionals from the United States, Europe, the Middle East, and Africa, discovered that four out of five executives think their organizations’ C-suite and board of directors are aware of current threat levels. However, more than two-thirds of participants believed that tight budgets would constrain their capacity to react to these threats.
According to the study, only half of organizations have the budget to meet current cybersecurity needs, owing to the growing threat surface from hybrid work and third-party vendors. According to 60% of respondents, the most current risk is the increasing sophistication of attacks, but more than half are also concerned about the increasing number of attacks.
“With mounting budget pressures, IT and security teams are once again being asked to do more with less, which will likely accelerate the adoption of service-based offerings that allow enterprises to flexibly scale up resources based on demand,” Carlos Morales, senior vice president of solutions at Neustar Security Services said.
When survey participants were asked to identify the most significant current threats to their organization’s IT security posture, “increased sophistication of attacks” emerged as the top concern (cited by 60% of respondents), followed by “increased activity of attackers” (54%), “budget constraints” (35%), and “larger attack surface from an increasingly borderless business operation” (35%).
The sources for this piece include an article in Cybersecuritydive
