Netwrix Report: Lack of Budget Is the Biggest Security Challenge for Small Organizations

They face the same security threats as organizations overall but have less resources to address them

FRISCO, Texas, June 27, 2023 /PRNewswire/ -- Netwrix, a cybersecurity vendor that makes data security easy, today announced additional findings from its survey conducted in February 2023 among security and IT professionals from 106 countries. The additional information is for organizations with less than 100 employees.

According to the survey, small organizations experience the same cyberthreats as the respondents overall. The most common security incidents are phishing, ransomware and user account compromise. However, smaller organizations usually have less resources and experience with which to address security threats. Indeed, lack of budget is their top security challenge, reported by one in two small companies.

"Cost efficiency is top of mind for small organizations. To improve their security posture, these organizations may want to seek out solutions that are tuned for the unique cost and security needs of small businesses. In addition, partnering with a vendor that offers multiple solutions is a way to get a larger discount for using several tools," says Dirk Schrader, VP of Security Research at Netwrix.

When we asked IT pros what they would do to improve the security posture of their small organization if they had a chance to decide on their own, their top choice was IT staff training.

"One option for addressing the lack of cybersecurity expertise is to consider outsourcing security-related tasks to a managed service provider (MSP) or managed security service provider (MSSP). This approach not only eliminates the need to hire additional internal IT talent but can also reduce the cost of maintaining security software. For example, if a new compliance requirement arises, the MSP can make the necessary changes once, implement them across their customer base, and share the cost of the customization among those clients," says Dmitry Sotnikov VP of Product Management at Netwrix.

More than two-thirds (68%) of small organizations have a hybrid IT architecture. Interestingly, only 45% of the small organizations that are exclusively on-premises plan to adopt cloud technologies, compared to 69% among respondents overall.

"On one hand, there are a lot of cloud-native small businesses, born when cloud was already an integral part of the IT landscape. On the other hand, many small organizations made significant investments into their on-premises infrastructure and may not have the budget or resources to then migrate to the cloud," says Dirk Schrader.

"Lack of experience and fear of moving to the cloud can also hinder cloud adoption in small organizations. To benefit from the greater flexibility that comes from transferring some security-related tasks to a cloud provider, smaller organizations can engage an MSP to map the most effective cloud migration path for their business and consider using security tools that cover both on-premises and cloud infrastructure," says Dmitry Sotnikov.

To learn more about security trends, check the complete 2023 Hybrid Security Trends Report.

About Netwrix  

Netwrix makes data security easy. Since 2006, Netwrix solutions have been simplifying the lives of security professionals by enabling them to identify and protect sensitive data to reduce the risk of a breach, and to detect, respond to and recover from attacks, limiting their impact. More than 13,000 organizations worldwide rely on Netwrix solutions to strengthen their security and compliance posture across all three primary attack vectors: data, identity and infrastructure.  

For more information, visit www.netwrix.com. 

CONTACT:

Erin Jones
Avista PR for Netwrix
P: 704.664.2170
E: pr@netwrix.com

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