IT Admins Report Rising Alarm Around Security Budget Cuts and Recession
LOUISVILLE, Colo., Nov. 17, 2022 (GLOBE NEWSWIRE) -- JumpCloud Inc. today announced the findings from its Q4 2022 SME IT Trends Report, “Managing IT Amidst Rising Security Threats and Global Turbulence for Small to Medium-Sized Enterprises.” JumpCloud commissioned this biannual survey of SME IT admins to gain insights into the day-to-day experiences of IT professionals who power and secure operations without enterprise-level budget and staff. The latest survey results highlight that a plurality of IT pros worry that cybersecurity-specific funding might be at risk: 44% agree their organization will cut spending on cybersecurity in the next year compared with 41% who disagree.
With the accelerated rate of attacks on SMEs and the sophisticated evolution of external threats, IT admins are concerned that such cuts will make organizations more vulnerable, with 75% reporting cuts to their organization’s security budget will increase organizational risk.
Inflation, labor shortages, recession talks, market volatility, and global conflicts are just a few of the external impacts companies are absorbing. Market and global turbulence was present six months ago, but recent disruptions have been more acute. And recessionary pressures appear to impact SMEs already: 78% report seeing evidence of a recession in their business, and 34% say their organization is severely impacted. Despite both internal and external events, SMEs are positioning themselves for success in large part due to the achievements of the IT teams that make it possible.
“SME admins have skillfully managed IT through a period of sustained and unprecedented uncertainty in business and the world,” said Rajat Bhargava, co-founder and CEO, JumpCloud. “SMEs would be wise to listen to IT teams’ concerns about the vulnerabilities introduced by tool sprawl and cuts in security budgets, as well as their pleas for tool consolidation and enhanced security. Improving security and reducing costs can go hand in hand with a platform approach that delivers both, offering secure access, improved productivity, and a better overall experience for end users and the IT professionals managing their tech access and apps.”
The results of the JumpCloud Q4 2022 SME IT Trends Report are available in JumpCloud’s ebook, “Managing IT Amidst Rising Security Threats and Global Turbulence for Small to Medium-Sized Enterprises,” which can be downloaded for free here.
JumpCloud is also hosting a webinar on “IT in 2023: How to Prep for a ‘Make or Break’ Year” on November 22 to discuss these results and IT planning for 2023. Register here to attend. Additionally, JumpCloud is hosting a special IT Hour online chat on November 18 at 11:30 am Eastern Standard Time for IT admins to discuss the latest survey findings. The JumpCloud IT Hour is available live online or via registration.
Key findings include:
Life of IT Admin:
Role of Managed Service Providers (MSPs):
JumpCloud surveyed 502 US-based SME IT decision-makers, including managers, directors, vice presidents, and executives. Each survey respondent represented an organization with 2,500 or fewer employees across a variety of industries. The online survey was conducted by Propeller Insights, October 11-14, 2022.
The findings from the JumpCloud Q4 2022 SME IT Trends Report can be found in “Managing IT Amidst Rising Security Threats and Global Turbulence for Small to Medium-Sized Enterprises,” here.
Additional Resources for IT Admins and MSPs
A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/01f4cf0d-8e11-4a18-b91d-b16468a45e1a
Media Contacts For JumpCloud Josie Judy [email protected]