Tag: leaders

According to a survey conducted by Flexera, IT leaders are acknowledging that they are overspending on cyber security tools. The survey, which included 800 IT decision-makers, revealed that 31% of respondents ranked IT security tools as the top area of overspending. This marks a six-point increase from the previous year's survey. While reducing IT security risks ranked second in terms of priorities over the next 12 months, behind artificial intelligence (AI), the survey results indicate that discussions around the proliferation of security tools and challenges in integrating separate tools are ongoing. Analyst IDC also conducted a survey last year, involving 503 IT decision-makers in North America. The survey focused on various security tools, with respondents reporting having anywhere from 41 to 60 security tools in their environment, and 25% of them having 21 to 40 tools. Aside from IT security tools, the survey by Flexera revealed that 68% of IT leaders believe that business units are spending more on cloud and software as a service (SaaS) than they are aware of. The estimated average amount of overspending across cloud, software, SaaS, and hardware was reported to be around 20-25%. When asked about their top IT spending challenges, respondents highlighted controlling growth in IT spend, tackling IT spending efficiency and avoiding waste, and managing price hikes from software providers as the biggest challenges. Flexera noted that the survey responses indicate a desire for greater visibility across technology investments, as IT leaders strive to address overspending and achieve a better balance in budget allocation. The survey results also emphasized the increasing importance of artificial intelligence (AI) in redefining IT leaders' priorities. Nearly half (48%) of the IT leaders surveyed identified integrating AI as their top priority for the next 12 months. Conal Gallagher, Chief Information Officer at Flexera, highlighted the significant potential gains offered by AI projects. He emphasized the urgency in understanding the impact of AI investments and demonstrating returns that align with core business objectives. Gallagher added, "AI is not only disrupting and transforming IT, but also paving the way for changes in the way we work. IT leaders play a crucial role in recognizing and embracing this disruption, serving as guiding forces for their organizations."

Tag: leaders

IT leaders raise concerns over IT security overspend

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