IT leaders raise concerns over IT security overspend

According to a survey conducted by Flexera, IT leaders are reporting 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, marking a six-point increase from the previous year.

While reducing IT security risks ranked second in priorities over the next 12 months, behind artificial intelligence (AI), conversations around the inflation of security tools and challenges in integrating them together are ongoing.

In a previous survey by IDC, it was found that IT decision-makers in North America had anywhere from 41 to 60 security tools in their environment, with 25% reporting 21 to 40 tools. Additionally, the Flexera survey found that 68% of IT leaders believe business units are overspending on cloud and software as a service (SaaS) without their knowledge.

When it comes to IT spending challenges, controlling growth in IT spend, tackling spending efficiency, and managing price hikes from software providers were highlighted as the top concerns. IT leaders expressed a desire for more visibility across their technology investments to address overspending and achieve better budget balance.

The survey also indicated that AI is reshaping IT leaders’ priorities, with 48% of respondents identifying integrating AI as their top priority for the next 12 months. Conal Gallagher, Chief Information Officer at Flexera, emphasized the significant impact of AI projects on business objectives and the need to quickly demonstrate returns.

Overall, AI is seen as a disruptor in IT, leading to changes in compute resources, data quality, and work processes. IT leaders are at the forefront of embracing this disruption and guiding their organizations through the transformation.