IT Brief New Zealand logo
Technology news for New Zealand's largest enterprises
Story image

Businesses throwing money at nothing over cybersecurity stack

By Shannon Williams
Wed 27 Apr 2022

Infrastructure and licensing costs are deeply concerning for businesses looking to consolidate cybersecurity tools and make a move into the cloud, according to findings from a recent poll from Logpoint. 

The poll revealed almost a third of respondents believe they are throwing money at nothing when it comes to their existing cyber security stack.

The poll was issued on Twitter over 3 days and targeted cybersecurity and IT professionals to uncover the security and cost implications enterprises face with their existing IT infrastructure and the overwhelming number of solutions and applications.

When questioned on their feelings towards their existing cybersecurity technology stack, 32 percent admitted feeling as though they were throwing money at nothing, with a further 17 percent stating that it was too time and cost consuming. Worryingly, 27 percent also said it was overwhelming and a further 23 percent said they were at a tipping point with their current technology.

"Today's enterprises face an increasing number of challenges on their IT infrastructure, with a growing workforce across numerous locations and huge amounts of data to manage," says Andrew Lintell, Logpoint VP for EMEA.

"If ever there was a lesson to be learned, the Covid pandemic certainly highlighted the importance of investing in the right business tools and technologies," he says. 

"While some had to scale up, others had to scale back costs and reduce expenses to make up for lost revenue. These findings highlight that sentiment and the drastic need for businesses to get to grips with their existing infrastructure and the host of tools they are operating."

When questioned on where they think cost savings can be made in consolidating cybersecurity tools/solutions, 45 percent of respondents said reducing infrastructure would offer the biggest cost-saving, followed by removal of duplicated and unused tools (29%) and reducing analyst training (27%).

"With all the security products organisations have installed, sometimes up to 70 different solutions, and the money invested, they still remain vulnerable to cyberattack," says Lintell. 

"Buying more solutions doesn't solve the problem and often results in duplication or crossover of tools and processes or solutions going unused. Businesses need to change tack and take up a more holistic and consolidated approach to cybersecurity."

When it comes to expense, this was also highlighted as the biggest concern with software licensing in the cloud, with 39 percent saying it was too expensive, and 24 percent noting unknown future costs as a cause for concern. Lock-in or lack of control with software licensing was flagged by 22 percent as an issue also, along with a lack of user-based licensing options over usage-based (14%).

"The cost of licensed software in the cloud is still a big blind spot for many businesses and can far exceed the cost of the cloud infrastructure itself," says Lintell.

"Without a complete picture of all of the costs particularly those associated with usage rather than based on the number of users, risk ballooning costs," he says.

"While security leaders may have the funds to buy multiple security solutions, they often do not have the expertise (or time and resources) to leverage the products feature set. Consolidation of capabilities, unified instrumentation and automation will minimise the time it takes for security teams to detect, orchestrate and respond to cyber incidents, and ultimately result in cost savings and limit wasted budget on unnecessary solutions."

Related stories
Top stories
Story image
Microsoft
Microsoft NZ announces initiative for local SaaS businesses
Microsoft has announced a new initiative, bringing together all of its tools to help local SaaS businesses build, sell and grow their companies at scale.
Story image
TUANZ
TUANZ to address rural connectivity at 2022 symposium
TUANZ is hosting the Rural Connectivity Symposium for the first time in person since 2019, providing a forum to discuss the state of rural connectivity.
Story image
Malware
Fortinet introduces self-learning AI in latest offering
Fortinet is introducing self-learning AI capabilities in its new network detection and response offering, FortiNDR.
Story image
Cybercrime
The ups and downs and runarounds of catching cybercriminals in NZ
We're becoming more and more aware of cybercrimes but how many criminals actually get caught? The New Zealand police explain why the answer is complicated.
Story image
Artificial Intelligence
Gartner reveals top three tech trends for banks this year
Gartner says generative artificial intelligence, autonomic systems and privacy-enhancing computation are gaining traction in banking and investment services.
Story image
Infosys
Consumer relationships with digital services continues to change
Two years of pandemic-induced reliance on technology for work has altered our relationship with digital apps and services, new research has found.
Story image
SaaS
The paradox of change, and how to get around it
The business decision to technologically transform should not come from an IT department but from the business itself.
Story image
Identity and Access Management
The post-pandemic workforce requires secure IAM capabilities
HID Global discusses what identity and access management means for organisations in today's convoluted digital world.
Story image
Red Sift
Entrust expands strategic partnership with Red Sift
Entrust has expanded its strategic partnership with Red Sift to make it easier for businesses to adopt Brand Indicators for Message Identification (BIMI) standards for email identification and security.
Story image
Rackspace
Skills shortages hold orgs back from capitalising on cloud 2.0
Organisations are becoming more comfortable with sophisticated 'cloud 2.0' technologies, even as they confront difficulties in hiring and retaining IT talent.
Story image
NVIDIA
NVIDIA announces a spate of new innovations at Computex 2022
NVIDIA has announced its latest innovations in data center, robotics, content creation, and gaming in a virtual keynote address on the opening day of Computex 2022 in Taipei.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
BYOD / Bring Your Own Device
How zero trust can lead the battle against ransomware
SecOps teams champion a zero trust strategy to support the fight against the escalating risk of cybercrime and help monitor threat actors across a network.
Story image
Microsoft
Microsoft previews Power Platform website design offering
Microsoft has announced the preview of Power Pages, the fifth product in its Power Platform family, designed for low-code makers and professional developers.
Story image
Ponemon Institute
Email revealed to be riskiest channel for data loss
More than half (60%) of organisations experienced data loss or exfiltration caused by an employee mistake on email in the last 12 months.
Story image
CrescoData
SPS network now available to CrescoData eCommerce customers
CrescoData, a Pitney Bowes Company and PaaS business in the commerce space, says its customers can now connect to the SPS Commerce Retail Network.
Story image
Multi Cloud
Red Hat updates dev tools, empowers use of hybrid and multicloud
Red Hat has unveiled updates across its portfolio of developer tools, designed to help organisations build and deliver applications faster.
Story image
Cyber attacks
Devastating cyber attacks expected to hit energy sector
Energy executives anticipate life, property, and environment-compromising cyber attacks on the sector within the next two years.
Story image
Sustainability
SoftIron named global leader for efficient DC infrastructure solutions
SoftIron has been named a global leader for supplying energy-efficient data infrastructure solutions for core-to-edge data centers after an assessment by Earth Capital Ltd.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Ransomware
APAC organisations fail to disclose ransomware breaches
85% of organisations in APAC were breached by ransomware at least once in the past five years, but only 28% publicly disclosed the incident.
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.
Story image
Check Point
Check Point and CCTV expert join forces to boost protection
The partnership will involve Check Point Quantum IoT Protect Nano Agent being embedded in Provision-ISR’s CCTV cameras for on-device runtime protection.
Story image
Training
Infosec unveils role-guided cybersecurity training roadmaps
Infosec Skills Roles maps hands-on training and certifications to the 12 most in-demand cybersecurity roles to maximise training efficiency.
Story image
Digital Signage
MAXHUB's Digital Signage range to bolster boardroom productivity
The new MAXHUB Digital Signage technology is purpose-built to make every kind of team meeting more effective.
Story image
GapMaps
GapMaps Live to improve brand decisions on physical locations
GapMaps has released its latest service GapMaps Live, giving more insights and features to help brands make better decisions about physical locations.
Story image
Kubernetes
Sysdig unveils new Kubernetes troubleshooting and cloud innovations
Sysdig has introduced two new innovations that look to help bolster cloud services and simplify Kubernetes troubleshooting.
Story image
Managed service provider
Barracuda MSP Day 2022 highlights MSP opportunities
Barracuda Networks has released a report showing global services-related MSP revenue is set to increase by more than a third in 2022 compared to 2021.
Story image
Chorus
Chorus and Nokia launches first trial of 25G PON broadband
Chorus and Nokia have announced the successful demonstration of 25 gigabit per second fibre (Gbps) broadband technology at the Chorus Fibre Lab in Auckland. 
Story image
Hybrid Cloud
Barracuda expands cloud-native SASE platform
"The expansion of Barracuda's cloud-native SASE platform for hybrid deployment models and IIoT environments solves a number of challenges."
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Digital Transformation
Digital transformation increasing business complexities
A new survey suggests businesses must re-examine their digital transformation approach to better help employees adapt to change.
Story image
Ransomware
CERT NZ releases first Cyber Security Insights for 2022
CERT NZ has released Quarter One: Cyber Security Insights 2022, which offers an overview of reports about cybersecurity incidents affecting New Zealanders.
Story image
Data Protection
Information management capabilities to meet privacy requirements
Organisations with customers or operations across more than one country face a spate of new and proposed privacy and data protection laws.
Story image
Surveillance
i-PRO releases smallest AI-based surveillance camera on the market
The new i-PRO mini network camera is now available, with a pocket-sized form factor and full AI analytics functionality.
Story image
Informatica
Informatica, Oracle enter strategic global cloud partnership
Oracle named Informatica as a preferred partner for enterprise cloud data integration and data governance for data warehouse and lakehouse solutions on OCI. 
Story image
Cybersecurity
What every CISO must answer to enable a best-in-class security operations program
It has been widely reported recently that South Australian government employees have been the victims of a cyberattack.
Story image
Alteryx
Alteryx releases updates, empowers data insights for enterprise
Alteryx has released new advancements designed to aid enterprises with cloud analytics, democratise insights and ensure data governance.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Microsoft
Elevation of Privilege the top 2021 Microsoft vulnerability
BeyondTrust has released its 2022 Microsoft Vulnerabilities Report, finding that Elevation of Privilege is the top vulnerability category for the second consecutive year.
Story image
Cybersecurity
Accenture - a collective security approach a driving factor for cyber resilience
With the approaching Davos World Economic Forum upon us, it is even more imperative to discuss the impact of cybersecurity on business operations leading into the future.
Story image
DaaS
NetApp launches Spot PC, a new Desktop-as-a-Service solution
This is a new managed cloud DaaS solution with security, automation, observability and optimisation capabilities, designed for the needs of today.
Story image
Sustainability
Aligned Data Centers increases sustainability-linked loan
Aligned Data Centers has increased its sustainability-linked loan from $375 million to $1.75 billion to speed up the next phase of its strategic growth.