Half of CIOs Are Increasing IT Budgets, 43% Focused on Identity and Access Management, Bravura Security and Pulse Survey Shows

August 11, 2020

CALGARY, Alberta—August 11, 2020—CIOs are prioritizing identity and access management (IAM) over endpoint security and security awareness training in 2020, according to a recent survey conducted by Gartner on behalf of Bravura Security. The survey, focused on changes in IT spending in the wake of the coronavirus pandemic, reveals that cybersecurity is IT leaders' top focus for the rest of the year—and half of those surveyed are increasing their budgets to support their goals.

The pandemic has upended most businesses' 2020 plans, with 70% of CIOs reporting their long-term priorities have shifted since the start of the year. Now, 89% said they're focused on cybersecurity, while 82% are working on remote enablement.

Their goals reflect these new priorities: 86% said they're aiming to improve security standards across their environment, while 80% are making their tech stack more flexible for remote and on-premise users. In addition, 75% said they were hoping to keep their IT infrastructure and tool stack up to date.

While budgets are tight for half the respondents, who don't expect an increase in spending, the other half of CIOs expect their budgets to increase in 2020 to reflect shifts in IT. Some 33% anticipated a 5% increase, 13% foresaw a 5-10% increase, and 9% expected an increase greater than 10%.

To achieve their security and remote enablement goals, 43% of CIOs are investing in IAM, ahead of endpoint security (34%) and security awareness training (17%).

"Prioritizing IAM makes sense. CIOs have been waking up to the fact that most hackers don't break down the gate—they just unlock it because they already have the keys," said Kevin Nix, CEO at Bravura Security. "Bad actors have been focused on stolen credentials, phishing attacks, and social engineering, especially since the pandemic forced so many employees to work remotely. We've seen a new urgency among companies looking for IAM solutions. Last year, businesses might plan to adopt IAM over a year or two. Now they need it next quarter."

Other survey findings include:

  • 67% of CIOs say they're more willing to invest in emerging technologies
  • 88% of respondents at companies with 500-1000 employees were planning to invest in emerging technology, the most of any size category. Just 45% of those at companies with 5,000 to 10,000 employees said the same, the lowest of any category.
  • 87% would consider emerging security technology in 2020, while 71% would consider emerging AI and machine learning technology

Pulse conducted the survey from May 14 to June 20, 2020, polling 131 CIOs, VPs, and Directors at small, mid-sized, and enterprise companies. For more data from the survey, view the infographic.

To learn more about Bravura Security, visit Bravura Security's website, contact us, call 1.403.233.0740, or follow @Hitachi_ID on Twitter.

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About Pulse Q&A

Pulse is a social research platform and interactive community that's reimagining innovation decision-making for the rapidly changing business world. Pulse combines the best parts of survey, research, and professional networking to democratize information: providing real data, from real people, in real time. Currently a platform with over 20k highly engaged CIOs and CISOs, Pulse brings business leaders together in an exclusive, verified community to share information and ideas, and collaborate on the next frontiers of innovation. Download the Pulse Q&A app, or learn more at https://www.gartner.com/peer-insights/about-us.

About Bravura Security

Bravura Security, an analyst-recognized leader, delivers decades of experience and the industry's only single Identity, Privileged Access, Password and Passwordless management platform, the Bravura Security Fabric. This end-to-end platform offers users a robust and frictionless security experience, governance and compliance checks, and streamlined service-level agreements via a single platform, which further decreases overall risk and lowers total cost of ownership for deployment and administration.

To learn more about Bravura Security, read through our website, get in touch, or call 1.403.233.0740

For more information, please contact:

Carolyn Evans
Director, Marketing,
Bravura Security
(403) 389.3489