The allocation of cloud security budgets is changing: Enterprises are deprioritizing innovation initiatives in favor of consolidation and operationalization of their existing stacks.
Macroeconomic and geopolitical challenges have forced enterprises to review their budgets. A strong cyber position is crucial, so firms are focused on ensuring that they have sufficient coverage, while minimizing net-new tooling.
We’re in the age of the cybersecurity platform.
Robust providers that allow enterprises to cover their bases instead of buying multiple point-solutions, and that use automation to reduce risk and drive efficiency, are gaining traction. Security leaders are considering how they can consolidate.
Meanwhile, Zero Trust Network Access tools topped the CISO priority list, the State of Enterprise Tech report found.
“The transition to cloud and digitalization continues to be a core focus for enterprises, and is driving the attempts to ringfence cybersecurity budgets,” according to Insight managing director Steve Ward. “As the enterprise landscape changes, businesses can’t justify spending less on cybersecurity and leaving themselves in a potentially vulnerable position.”