New Survey Reveals 80% of Companies Plan to Increase Their Cybersecurity Posture Management Budget

SAN JOSE, Calif., Oct. 26, 2021 /PRNewswire/ -- Balbix, provider of the world's leading platform for cybersecurity posture automation, today revealed results of the Security Hygiene and Posture Management Survey, completed in partnership with ESG, an IT analyst, research, validation, and strategy firm. A key finding of the survey is that 80% of those surveyed plan to increase spending on their cybersecurity posture management over the next 12-18 months. Organizations will put that money toward cyber-risk quantification tools, cloud security posture management and security asset management.

"Protecting company assets from attack is quickly becoming a top priority for the C-suite," Jon Oltsik, Senior Principal Analyst & ESG Fellow. "Balbix can help organizations measure and reduce their financial risk from cyber threats."

The survey of just under 400 IT and security professionals highlights that posture management remains one of the least mature areas of security. Almost three quarters of respondents surveyed are using manual processes like spreadsheets. Similarly, 70 percent have more than ten security tools to manage their security hygiene and posture. Using manual processes and an extensive number of tools leads organizations to feel overwhelmed. Respondents said they face considerable challenges including:

• Keeping up with the volume of open vulnerabilities
• Automating the process of vulnerability discovery, prioritization, dispatch to owner and mitigation
• Identifying all assets that need to be scanned

As organizations mature their security posture, they often look to measure their progress through business metrics and outcomes. Of those surveyed, 36 percent said one of the most important security hygiene and posture management metrics is cyber risk quantification: the ability to calculate cyber risk in monetary terms. Money is a common language that allows everyone involved to make better decisions, from IT and security teams to leadership and the board of directors.

"To overcome the challenges outlined in the survey, it is imperative that companies take the first step to automate their security posture," said Balbix CEO, Gaurav Banga. "Organizations need to integrate their tools and move away from manual processes to improve visibility and be able to quickly respond to new threats."

For a summary of these key survey results, download the infographic.

About Balbix
Balbix is the world's leading platform for cybersecurity posture automation. Using Balbix, organizations can discover, prioritize and mitigate unseen risks and vulnerabilities at high velocity. With seamless data collection and petabyte-scale analysis capabilities, Balbix is deployed and operational within hours, and helps to decrease breach risk immediately. Balbix counts many global 1000 companies among its rapidly growing customer base and was named a "Cool Vendor" by Gartner in 2018. Learn more at www.balbix.com and follow Balbix on Twitter and LinkedIn.

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SOURCE Balbix