Are Enterprises Spending Enough On IT, Mobility?

Companies around the globe are increasing their total budget for Information Technology initiatives and data security, but is it enough, and what’s driving enterprises to put more focus on protecting themselves from an ever-widening threat landscape?

The increase of enterprise mobility among SMBs and large enterprises is forcing organizations around the globe to focus more on digital transformation, pull back from legacy system upgrades, and put data security among the chief needs of the IT department.

According to a new report released by Strategy Analytics, total IT budgets are set to increase over the next five years, including additional spend on enterprise mobility. The survey showed 30% of enterprises spent somewhere between 5% and 10% on IT last year, while 12% of companies spent more than 10% on IT in 2016.

But is it enough? In a mobile-first business world, should decision makers in the organization be putting more money into the IT budget, especially for security measures?

The report went on to expose vulnerabilities in the workforce, saying 29% of companies who responded say more than half of corporate-liable smartphones are unlocked, with nearly one-third of respondents admitting corporate data on personally-liable devices is not secured, either.

As previously reported by Enterprise Mobility Exchange, 40% of c-level executives claim they’re the biggest targets for mobile security attacks, with an additional 34% saying senior-level management also part of the enterprise’s mobile security threat landscape.

Smartphone hacks in general – both consumer and enterprise-wide – reached record highs in 2016, accounting for 85% of mobile infections, making them the single largest threat vector in comparison to other devices such as laptops, tablets, and wearables.

Another reason for increased spend on IT and mobility could be coming from the challenges enterprises are facing. In a previous report highlighted by Enterprise Mobility Exchange, 44% of IT executives said securing confidential data on endpoint devices was their organization’s top challenge, with 39% of respondents saying enforcing end-user compliance with regulatory requirements as the second biggest challenge.

Security in enterprise mobility will be the focus of Enterprise Mobility Exchange’s Security East event, set to take place in Miami, Florida on October 10 and 11, bringing together dozens of end users from across all industries. The two-day, invite-only meeting will help c-level executives, VPs, Directors, and Heads of IT and Mobility connect in a confidential, peer-to-peer setting by networking and sitting in on scheduled speaking sessions, round table discussions, and think tanks.

To find out more about the Enterprise Mobility Exchange: Security East event, agenda, and scheduled speakers, visit the website here.