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Research shows that the majority of organizations rely on other departments’ budgets when attempting to comply with NIS2. A Censuswide survey commissioned by Veeam Software shows that 95
Research shows that the majority of organizations rely on other departments’ budgets when attempting to comply with NIS2.
A Censuswide survey commissioned by Veeam Software shows that 95 percent of organizations in EMEA have used other department budgets to comply with NIS2. This puts a strain on resources and exacerbates existing challenges, such as the shortage of IT specialists.
The research shows that 68 percent of organizations surveyed received additional budget for NIS2 compliance, while 20 percent find budget a barrier. The focus on the NIS2 guideline since January 2023 has led to adjustments in budget distribution: 40 percent of organizations are working with a lower IT budget and twenty percent with an unchanged budget. As a result, almost all organizations (95%) have sourced funds from elsewhere, primarily from recruitment budgets (30%), crisis management (29%) and emergency reserves (25%).
According to Edwin Weijdema, Field CTO EMEA at Veeam, rising costs and shrinking IT budgets are the reason for this change. Although the policy emphasizes strict penalties and corporate responsibility, IT leaders are concerned about the diversion of funds, especially when it comes at the expense of recruiting and emergency reserves.
The survey provides further insight into IT leaders’ top concerns. IT talent shortages (24%), profitability (23%) and digital transformation (23%) top their list, while NIS2 compliance is only tenth. Nevertheless, NIS2 requires significant financial and human resources, which puts pressure on organizations. The research shows that 80 percent of IT budgets are spent on cybersecurity and compliance.
Organizations take various measures to become NIS2 compliant. These include IT audits (29%), assessing cybersecurity processes (29%) and developing new policies (28%). Investments in new technologies (28%) are also an important pillar that requires an additional budget.
According to Andre Troskie, Field CISO EMEA at Veeam, the high budget allocation for security and compliance highlights that organizations are underprepared. He recommends a holistic approach to security so that other priorities, such as digital transformation, are not jeopardized.
Source: IT Daily
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