What can your competitors tell you about your security spend?

When it comes to spending on new IT security, the decision-making process is complicated. With so many layers of approval, the need to secure board buy-in, and a busy landscape of seemingly must-have technologies, leaders struggle to focus their investments, let alone drive a healthy return.

That’s why so many IT decision makers turn to a quick, easy source of direction: their competitors.

Thycotic have just published a new report: The Cyber Security Team’s Guide to Technology Decision Making. Based on responses from more than 900 senior IT decision makers, it’s a look at how people are making decisions about their security spend and evaluating the possibilities.

Get your copy now or read on to see why this kind of outside perspective is so valuable.

900+ minds are better than one

Today, every business is a potential target for cybercrime and internal fraud. We have risk in common. But allocating our budgets and prioritising our resources is, in theory, as unique as we are.
Different businesses face different threats. They’re protecting different systems and resources. So why do almost half (46%) of leaders say that benchmarks against others in their industries are the most important part of decision making?

The reality is that many decision makers find it hard to act with confidence. After all, they’re second-guessing future threats and attack vectors, often with little understanding or support from inside the business. The gap between IT and the rest of the organisation makes it hard to crowdsource ideas, validate plans or share responsibility.

It’s not just about organisational risk and great security. It’s about minimising your personal risk by investing in safe options. There’s no surprise that, in the UK, 51% of businesses would describe their technology as ‘in the pack’. Senior decision makers look to their peers for guidance, so they can learn from the success or failure of others.

Learn from other IT decision makers

Thycotic’s report, The Cyber Security Team’s Guide to Technology Decision Making, lets you take advantage of other leaders’ experience to avoid pitfalls, evaluate solutions and overcome barriers to investment and adoption.

Available now, it’s a data-driven look at:

  • How COVID-19 is affecting security budget for the better
  • How to go beyond competitor benchmarking to make more informed decisions
  • What other leaders are doing to add value and get board buy-in

Get your free copy now to see how your decision-making process stacks up.

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