Infographic: Why Leaders are Prioritizing Cyber in their IT Budget

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The explosion of ransomware, zero-day attacks, third-party breaches, and long-term remote work has culminated into a crisis of confidence for security leaders.

In response, nearly half of businesses are increasing investments in proactive security strategies, hardware and software to better protect sensitive data, and security awareness training for their employees. In many cases, they’re moving to outsource these cybersecurity initiatives to third parties who specialize in cyber risk.

Interested in learning more about what today’s business leaders are budgeting for in 2022? Check out our quick infographic below on trends in IT and cybersecurity strategies.

According to recent studies, 90% of security leaders believe they’re falling short on addressing cyber risk, and 32% of small to medium-sized businesses attribute their shortfalls to not investing enough in security budgets.

So what are savvy business leaders doing to address ever-increasing cyber risk to stay ahead of their competitors?

Nearly half of organizations are increasing security budgets to fund security initiatives, and businesses that plan to increase security budgets this year are doubling their spending on average, from $5.5 million last year to $11 million over the next 12 months.

Additionally, enterprises will budget an average $123 million on security in the coming year, and outsourcing these cybersecurity initiatives is gaining steam. Today, almost half (49%) of organizations say they already or will outsource some of their IT security functions over the next 12 months, and in 2022, one in five organizations (21%) surveyed say they will fully outsource security functions.

If you’re looking to join the business leaders on the front end of integrating cybersecurity and cyber risk mitigation into their IT budgets and strategies, look no further than Corsica Secure.

Learn more about identifying next steps in building a strong, integrated IT and cybersecurity foundation for security and growth by visiting our Corsica Secure page or scheduling your first no-risk assessment here.

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