Page 54 - Cyber Defense eMagazine July 2024

Maximizing Cybersecurity Impact Within Budget Constraints

Bridging Cybersecurity Gaps with Layered Integrations

By Joe Tibbetts, Senior Director, Technology Alliances & API, Mimecast

Cybersecurity is the cornerstone of organizational stability and resilience today. Despite its critical
importance, budgetary allocations often fall short due to competing priorities.

Mimecast recently surveyed 1,100 CISOs and information technology professionals for their 2024 State
of Email and Collaboration Security report. Report findings highlight the stark reality facing IT teams:
while cybersecurity remains a top concern, investment in cybersecurity fails to meet the mark. On
average, organizations dedicate a mere 9% of their IT budget to cybersecurity, a figure significantly lower
than the perceived ideal of 12%. This gap has major consequences, with 37% of IT professionals
acknowledging their inability to detect and respond to threats with the speed and efficiency demanded
by today's threat landscape.

Underfunded cybersecurity initiatives yield significant consequences for IT teams and businesses.
Mimecast found that 40% of respondents compromise on cybersecurity tools, while 36% acknowledge

Cyber Defense eMagazine – July 2024 Edition 54
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