{"id":71999,"date":"2022-11-17T08:00:00","date_gmt":"2022-11-17T13:00:00","guid":{"rendered":"https:\/\/jumpcloud.com\/?post_type=press-release&p=71999"},"modified":"2022-11-28T18:36:02","modified_gmt":"2022-11-28T23:36:02","slug":"it-admins-report-rising-alarm-around-security-budget-cuts-and-recession","status":"publish","type":"press-release","link":"https:\/\/jumpcloud.com\/press\/it-admins-report-rising-alarm-around-security-budget-cuts-and-recession","title":{"rendered":"IT Admins Report Rising Alarm Around Security Budget Cuts and Recession"},"content":{"rendered":"\n

JumpCloud research shows IT admins at small to medium-sized enterprise (SMEs) remain committed to delivering a secure and frictionless user experience, while needing to find ways to reduce TCO in the face of economic challenges and a decade of identity tech sprawl<\/em><\/p>\n\n\n\n

LOUISVILLE, Colo. \u2014 Nov. 17, 2022 \u2014 <\/strong>JumpCloud Inc.<\/a> today announced the findings from its Q4 2022 SME IT Trends Report<\/a>, \u201cManaging IT Amidst Rising Security Threats and Global Turbulence for Small to Medium-Sized Enterprises.\u201d 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. <\/p>\n\n\n\n

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\u2019s security budget will increase organizational risk. <\/p>\n\n\n\n

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.<\/p>\n\n\n\n

\u201cSME admins have skillfully managed IT through a period of sustained and unprecedented uncertainty in business and the world,\u201d said Rajat Bhargava, co-founder and CEO, JumpCloud. \u201cSMEs would be wise to listen to IT teams\u2019 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.\u201d<\/p>\n\n\n\n

The results of the JumpCloud Q4 2022 SME IT Trends Report are available in JumpCloud\u2019s ebook, \u201cManaging IT Amidst Rising Security Threats and Global Turbulence for Small to Medium-Sized Enterprises,\u201d which can be downloaded for free here<\/strong><\/a>.<\/p>\n\n\n\n

JumpCloud is also hosting a webinar on \u201cIT in 2023: How to Prep for a \u2018Make or Break\u2019 Year\u201d on November 22 to discuss these results and IT planning for 2023. Register here<\/a> 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<\/a> or via registration<\/a>. <\/p>\n\n\n\n

Key findings include:<\/strong><\/p>\n\n\n\n

Business Outlook:<\/strong><\/p>\n\n\n\n