Panaseer, a leader in security posture management powered by Continuous Controls Monitoring (CCM), has launched its report, Optimizing cybersecurity: Striking the balance between people and technology, for 2023. The survey of over 400 cybersecurity decision-makers and practitioners across the US and UK identified nearly one-third have concerns about a lack of security skills and lack of security training budget, while over one-quarter are worried about low-security team headcount and low overall security budget. Yet adoption of processes to ease these concerns remains slow, as more than three-quarters of respondents expressed concerns that approaches like vendor consolidation will negatively impact security posture.
It is estimated there will be a skills gap of 3.5 million unfilled positions in cybersecurity by 2025 and at the same time, enterprises across the technology and cyber industries have been forced to make significant cutbacks and lay-offs in 2023. Despite an average cybersecurity budget increase of 29% in 2023, respondents to the Panaseer survey say they need a further 40% rise to be confident in their ability to mitigate security risks. With this, more than half would spend money on hiring more security specialists, shortly followed by investment in security awareness training (50%) and upskilling security teams (44%).
“But the answer is not simply finding more people,” said Andreas Wuchner, Field CISO at Panaseer. “Instead, we need to look at where technology can be optimised, where automation can ease workload and where consolidation can reduce complexity and enable a single source of truth across the IT infrastructure.”
