A survey of 100 US cyber security experts by HackerOne showed: After budget cuts and layoffs in IT security, there are more unpatched vulnerabilities. This potentially makes organizations more vulnerable to attacks.
HackerOne, provider of attack resistance management and bug bounty programs, has conducted a survey looking at the impact of budget cuts on corporate cybersecurity. The results underscore the importance of highly integrated solutions to optimize cybersecurity resources and ensure defense against attacks.
Bad economy - fewer security employees
In the last twelve months, 39 percent of companies have reduced the number of their security employees, and 40 percent plan to do so in the next twelve months. 34 percent of companies have also reduced their security budgets and about a quarter plan to do so in the next XNUMX months.
Half of companies saw an increase in system vulnerabilities over the past 84 months as a result of layoffs and reduced budgets. In view of this, 83 percent fear financial damage as well as reputation and brand image damage (XNUMX percent) through security breaches.
Employees: Cutbacks have a negative impact
67 percent of organizations say these cuts are negatively impacting their ability to effectively address cybersecurity issues. For example, a third believe there is a monetary impact if they find vulnerabilities too late in the software development cycle, and 43 percent still see cybersecurity as a barrier to innovation in software development.
Thirty-seven percent of organizations also say that while there is some reliance on AI and automation, it still requires humans to pinpoint the highest-risk vulnerabilities. Such gaps, such as unknown assets that internal teams cannot uncover, and novel and zero-day vulnerabilities that are not detected by automated solutions, can be closed by external ethical hackers.
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Ethical hackers find weaknesses
They create vulnerability reports and provide business teams with the context they need to prevent the same issues from happening again. “Vendor optimization reduces risk and improves efficiency—especially in an economy where every dollar counts. Ethical hackers use an aggressive approach that ensures organizations find critical vulnerabilities without having to sift through mountains of data or incomplete reports from various point solutions,” said Mahesh Chukkapali, Chief Operating Officer of HackerOne.
Background to data collection
CensusWide collected from 29.-31. March 2023, the findings of 100 US cybersecurity professionals aged 18 and older in organizations with 10 or more employees.
More at HackerOne.com[HackerOne]