2003 IT Security Budgets Increased Despite Flat Overall Spending, Says META Group
- 19 November, 2003 15:01
<p>2003 IT Security Budgets Increased Despite Flat Overall Spending, Says META Group</p>
<p>Report Shows 66% of Companies Spent More on Security and Little Else</p>
<p>SYDNEY, Australia. (November 19, 2003) Despite tight spending, a complacent economy, and the perceived commoditisation of IT, 66% of surveyed companies made room in their 2003 IT budgets to dedicate more financial resources to security programs and little else, according to META Group, Inc. (Nasdaq: METG). This year, companies spent an average of 8.2% of their total IT budgets on security, up from 7.6% in 2002 and only 3.2% in 2001, according to new findings from META Group’s 2004 Worldwide IT Benchmark Report, which launches today.
These security programs primarily emphasised employee education, business continuity, and disaster recovery. Security professionals agree that current employees still pose the biggest threat to companies’ technology infrastructures, and their biggest concern is malicious attacks from viruses and unauthorised access to systems.
“Aside from security spending, we also saw an increase in development activity,” said META Group executive vice president and author of the 2004 Worldwide IT Benchmark Report, Dr. Howard Rubin. “Because of tightened budgets, more emphasis was placed on
integrating and extending existing applications rather than implementing new packaged applications.”
Surveyed CIOs report the reason spending was so tight in 2003 is due to weak profits and current financial conditions. A substantial number say that IT infrastructure and capacity are currently sufficient, so only limited spending is required. In general, however, there is optimism that investment will increase in 2004, especially in the insurance and manufacturing sectors.
“We expect insurance and manufacturing companies to see significant gains in IT spending,” said Rubin. “These are the sectors where we have seen the most efficient and effective cost-cutting measures in the last three years. These companies are positioned to take advantage of new opportunities because they have become more agile during the lean years.”</p>
<p>About the Report
Since 1995, the Worldwide IT Benchmark Report has been the definitive source of IT performance and productivity data for Global 2000 organisations. Each year, data is compiled from the thousands of organisations around the world that are subjects of META Group benchmarking engagements or participants in targeted industry surveys. The result is the most comprehensive and authoritative source on IT spending and performance data in the industry. The data was collected via a survey of 35 countries, combined with the Worldwide Benchmark database, which contains detailed, quantitative survey data collected on an ongoing basis from a panel of more than 1,600 IT professionals.
The 2004 edition contains comprehensive facts and data on:
• IT performance and productivity
• Budgets and spending
• IT investment and spending priorities
• IT portfolio management metrics
• Ratios, comparisons, and correlations
• And much more</p>
<p>For more information about the Worldwide IT Benchmark Report or META Group’s complete portfolio of measurement solutions, visit us at www.metagroup.com or call 61 2 9290 8688</p>
<p>About META Group
META Group is a leading provider of information technology research, advisory services, and strategic consulting. Delivering objective and actionable guidance, META Group’s experienced analysts and consultants are trusted advisors to IT and business executives around the world. Our unique collaborative models and dedicated customer service help clients be more efficient, effective, and timely in their use of IT to achieve their business goals. Visit metagroup.com for more details on our high-value approach.</p>
- Hands On: Our first impressions of Sony's a7R III
- The Best Australian Black Friday Tech Deals That Aren't On Amazon
- Wolfenstein The New Colossus Review: a Nazi-stomping shooter that's more than the sum of its parts
- Destiny 2 PC review: A port worthy of PC gaming's mightiest rigs
- The Razer BlackWidow Ultimate Will Now Resist the Elements