Recent years have seen a general cost-cutting in organisations caused by economic pressures. Many organisations have seen a fall in customer demand due to the cost-of-living crisis, as well as inflationary pressures affecting costs. Higher interest rates, increasing organisations’ cost of capital, are another factor.
There’s also a sense of fatigue associated with spending on cyber security. Businesses’ spending on cyber has been increasing year-on-year for a sustained period of time, and a tendency has crept in for organisations to feel that, by now, they have done the necessary investing required to protect themselves, even though the reality is that the cyber threat landscape is ever-intensifying and regulatory pressures are mounting.
Lastly, we’ve seen a ‘platformisation’ of cyber software, with the big suppliers creating cohesive, unified cyber solutions. This encourages CISOs to embrace economies of scale in their spending, allowing them to do ‘more with less’. This has led to reductions in spending on single-use-case software solutions.
All of these factors combined are contributing to a flatlining of cyber budgets over the past 12 to 18 months in…
