SecurityBrief Australia logo
Australia's leading source of cybersecurity and cyber-attack news
Story image

Businesses throwing money at nothing over cybersecurity stack

By Shannon Williams
Wed 27 Apr 2022

Infrastructure and licensing costs are deeply concerning for businesses looking to consolidate cybersecurity tools and make a move into the cloud, according to findings from a recent poll from Logpoint. 

The poll revealed almost a third of respondents believe they are throwing money at nothing when it comes to their existing cyber security stack.

The poll was issued on Twitter over 3 days and targeted cybersecurity and IT professionals to uncover the security and cost implications enterprises face with their existing IT infrastructure and the overwhelming number of solutions and applications.

When questioned on their feelings towards their existing cybersecurity technology stack, 32 percent admitted feeling as though they were throwing money at nothing, with a further 17 percent stating that it was too time and cost consuming. Worryingly, 27 percent also said it was overwhelming and a further 23 percent said they were at a tipping point with their current technology.

"Today's enterprises face an increasing number of challenges on their IT infrastructure, with a growing workforce across numerous locations and huge amounts of data to manage," says Andrew Lintell, Logpoint VP for EMEA.

"If ever there was a lesson to be learned, the COVID-19 pandemic certainly highlighted the importance of investing in the right business tools and technologies," he says. 

"While some had to scale up, others had to scale back costs and reduce expenses to make up for lost revenue. These findings highlight that sentiment and the drastic need for businesses to get to grips with their existing infrastructure and the host of tools they are operating."

When questioned on where they think cost savings can be made in consolidating cybersecurity tools/solutions, 45 percent of respondents said reducing infrastructure would offer the biggest cost-saving, followed by removal of duplicated and unused tools (29%) and reducing analyst training (27%).

"With all the security products organisations have installed, sometimes up to 70 different solutions, and the money invested, they still remain vulnerable to cyberattack," says Lintell. 

"Buying more solutions doesn't solve the problem and often results in duplication or crossover of tools and processes or solutions going unused. Businesses need to change tack and take up a more holistic and consolidated approach to cybersecurity."

When it comes to expense, this was also highlighted as the biggest concern with software licensing in the cloud, with 39 percent saying it was too expensive, and 24 percent noting unknown future costs as a cause for concern. Lock-in or lack of control with software licensing was flagged by 22 percent as an issue also, along with a lack of user-based licensing options over usage-based (14%).

"The cost of licensed software in the cloud is still a big blind spot for many businesses and can far exceed the cost of the cloud infrastructure itself," says Lintell.

"Without a complete picture of all of the costs particularly those associated with usage rather than based on the number of users, risk ballooning costs," he says.

"While security leaders may have the funds to buy multiple security solutions, they often do not have the expertise (or time and resources) to leverage the products feature set. Consolidation of capabilities, unified instrumentation and automation will minimise the time it takes for security teams to detect, orchestrate and respond to cyber incidents, and ultimately result in cost savings and limit wasted budget on unnecessary solutions."

Related stories
Top stories
Story image
Tech job moves
Tech job moves - Bitdefender, Cohesity, Fortinet & MODIFI
We round up all job appointments from June 27-30, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Artificial Intelligence
Juniper study reveals top AI trends in APAC region
Juniper's research shows an increase in enterprise artificial intelligence adoption over the last 12 months is yielding tangible benefits to organisations.
Story image
Research
New study reveals 51% of employees using unauthorised apps
The research shows that 92% of employees and managers in large enterprises want full control over applications, but they don't have it.
Story image
State Library of Victoria
State Library of Victoria entrusts Oracle support and security to Rimini Street
“Our finance team are very happy with the support and security that Rimini Street provides, which keeps our assets and our customers secure."
Story image
Cloudera
Overcoming hybrid and multi-cloud challenges to drive innovation
Driven by improvements in technology, financial services companies have advanced both internal and external systems and processes, with the likes of digitisation, personalisation and risk management redefining the industry.
Story image
Internet of Things
ManageEngine wins big in IDC MarketScape assessment
ManageEngine's Endpoint Central service has been recognised as a leader by IDC MarketScape in several categories including Internet of Things device deployments and UEM software for SMEs.
Story image
Cybersecurity
Zscaler launches co-located data centres in Canberra and Auckland
The investment will offer public and private sector enterprises greater resilience in support of their zero trust cybersecurity posture.
Story image
Cybersecurity
Vulnerable APIs costing businesses billions every year
Large companies are particularly vulnerable to the security risks associated with exposed or unprotected APIs as they accelerate digital transformation.  
Story image
Digital Transformation
What CISOs think about cyber security, visibility and cloud
Seeking to uncover the minds of CISOs and CIOs across Asia Pacific, my company recently asked Frost & Sullivan to take a snapshot of cloud adoption behaviour in the region.
Story image
Tech job moves
Tech job moves - ActiveCampaign, Arcserve, LogRhythm & Qlik
We round up all job appointments from June 17-22, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Attack
Phishing attacks are making a comeback
No matter what approach or tool cybercriminals use to breach a network, they all have one thing in common: access.
Story image
Ransomware
Secureworks reveals new information on BRONZE STARLIGHT threat group
New research from Secureworks has uncovered new information on the Chinese threat group BRONZE STARLIGHT and how they are using targeted ransomware to initiate complicated attacks.
Story image
Cybersecurity
Email threats spike 101%, remains a top attack vector
"Each year we see innovation in the threat landscape, but each year email remains a major threat to organisations."
Story image
Cybersecurity
Threat actors ramp up their social engineering attacks
As people get better at identifying potential threats in their inbox, threat actors must evolve their methods. Their new M.O? Social engineering.
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why its time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Digital Transformation
Cybersecurity priorities for digital leaders navigating digital transformation
In recent years, Asia-Pacific has especially been a hotspot for cyberattacks, and as we continue into 2022, it’s evident that the problem is becoming more significant.
Story image
Manufacturing
Sternum joins NXP, collaborates on IoT security and observability
Sternum has announced it has joined the software partner community of NXP Semiconductors, a manufacturer of and large marketplace for embedded controllers.
Story image
10 Minute IT Jams
Video: 10 Minute IT Jams - An update from Rimini Street
Today we welcome back Daniel Benad, who is the GVP & regional GM for Oceania at Rimini Street.
Story image
Oracle Cloud
Commvault, Oracle to deliver Metallic Data Management as a Service
"We are excited to partner with Commvault and enable our customers to restore and recover their most mission-critical cloud data."
Story image
Compliance
Stock security features inadequate in face of rising risk
"Organisations must proactively find ways of identifying unseen vulnerabilities and should take a diligent, holistic approach to cybersecurity."
Story image
Collaboration
IT and security team collaboration crucial to data security
Many IT and security decision makers are not collaborating as effectively as possible to address growing cyber threats.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from CrowdStrike
Scott Jarkoff joins us today to discuss current trends in the cyber threat landscape, and the reporting work CrowdStrike is doing to prevent further cyber harm.
Story image
Cybersecurity
Ingram Micro launches vendor-backed security program
Ingram Micro has unveiled a new program intended to give resellers the effective offerings their customers need to stay safe in the evolving threat landscape.
Story image
Cybersecurity
FIDO Alliance releases guidelines for optimising UX with FIDO Security Keys
The new guidelines aim to accelerate multi-factor authentication deployment and adoption with FIDO security keys.
Story image
Advent One
Advent One partners with US vulnerability management company
Advent One has partnered with New York based vulnerability management company, Vicarius to accentuate cybersecurity detection and response capabilities
Story image
Cybersecurity
Aqua Security, CIS create software supply chain security guide
Aqua Securityand the Center for Internet Security have together released the industry’s first formal guidelines for software supply chain security.
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
Cybersecurity
Zero trust security adoption rises 27% in just two years
A survey of WAN managers has revealed that multi-factor authentication and single sign-on are the top zero trust features implemented.
Story image
Cyber Criminal
Identity and access: the fight is on
Blue team defenders are used to protecting our data, applications, and users with access controls and other security mechanisms, which is why attacks like this are especially challenging when they target identity and access control systems.
Story image
MSP
Video: 10 Minute IT Jams - An update from CyberArk
Olly Stimpson joins us today to discuss the importance of MSP programmes and how MSP partners are experiencing success with CyberArk.
Story image
Network Security
Netskope announces zero trust network access updates
Customers can now apply zero trust principles across a range of hybrid work security needs, including SaaS, IaaS, private applications, and endpoint devices.
Story image
INTERPOL
Hundreds arrested, millions seized in global INTERPOL investigation
A two-month-long investigation by INTERPOL this year involved 76 countries and clamped down on organised crime groups behind telecommunications and social engineering scams.
Story image
Trend Micro
5G network projects driven by improving security and privacy
Trend Micro's new study reveals the prospect of improved security and privacy capabilities are the main motivations behind private 5G wireless network projects.
Story image
API
Industry-first comprehensive risk-based API security enhances protection
Application Programming Interfaces (APIs) have become a crucial part of operating web and mobile application businesses and are causing significant economic growth in the digital sector.
Story image
WatchGuard Technologies
Ransomware volume doubled 2021 total by end of Q1 2022
Ransomware detections in the first quarter of this year doubled the total volume reported for 2021, according to a new report. 
Story image
Gartner
Gartner's top recommendations for security leaders
"Leaders now recognise that major disruption is only one crisis away. We can’t control it, but we can evolve our thinking, philosophy, program and architecture.”
Story image
Amazon Web Services / AWS
Zscaler, AWS accelerate onramp to the cloud with zero trust
Zscaler has announced an extension to its relationship with Amazon Web Services, as well as innovations built on Zscaler's Zero Trust architecture.
Story image
Artificial Intelligence
Abnormal Security finds financial supply chain under threat
New research by Abnormal Security has found a rising trend in financial supply chain compromise as threat actors increasingly impersonate vendors.
Story image
Cloud Security
Palo Alto Networks bolsters cloud native security offerings
Latest Prisma Cloud platform updates help organisations continuously monitor and secure web applications with maximum flexibility.
Story image
Vendor
Forescout reveals top vulnerabilities impacting OT vendors
Forescout’s Vedere Labs has disclosed OT: ICEFALL, naming 56 vulnerabilities affecting devices from 10 operational technology vendors.
Story image
Cybersecurity
Significant security concerns resulting from open source software ubiquity
"The risk is real, and the industry must work closely together in order to move away from poor open source or software supply chain security practices."
Story image
Identity and Access Management
Ping Identity launches corporate venture capital fund
Ping Identity has launched a corporate venture capital fund to foster innovative offerings for the identity security market.
Story image
Internet of Things
Domino's Pizza: A blueprint for secure enterprise IoT deployment
Increasingly, organisations are embracing smart technologies to underpin innovations that can enhance safety and productivity in every part of our lives, from industrial systems, utilities, and building management to various forms of business enablement.
Story image
Secure access service edge / SASE
Cloudflare adds new capabilities to zero trust SASE platform
New features for Cloudflare One include email security protection, data loss prevention tools, cloud access security broker, and private network discovery.