As CEOs sit up and take notice of IT infrastructure by shifting investment dollars towards digitalization, CIOs see an opportunity for a larger cybersecurity investment.
Now that companies are facing increased competition from global competitors and customers are demanding digital products and experiences, the C-suite is beginning to take notice of the role that IT infrastructure plays in their bottom-line business goals. An increasing number of cybersecurity attacks further emphasizes the importance of the IT department. Communication between C-level executives and the IT department has always been a point of friction, but because of the push towards digitalization, many CEOs are beginning to see the link between the IT department and its role in company operations.
Gartner just released their annual survey of CIOs and found that because of the major push towards digitalization, there was more focus from executive management on the existing IT infrastructure of the enterprise. One of the biggest concerns being the challenges of connecting legacy systems with the digital platforms that organizations want and need to use to communicate with customers and how those can be secured effectively.
The Gartner study found that digitalization is currently accounting for 18% of IT budgets, and is expected to claim 28% of IT budgets by next year. And for enterprise companies that are already deeply entrenched in the digitalization trend, that spend is closer to 34% of current budgets and projected to balloon up to 44% by next year.
This could be very good news for the IT department, and just what CIOs need in order to get buy-in from the C-Suite to spend more on cybersecurity initiatives. Because digitalization requires a strong and up-to-date IT infrastructure, and cybersecurity plays a major role in keeping that infrastructure safe and in working condition, cybersecurity budgets could get a hefty boost in the upcoming few years.
Such a budget increase is desperately needed for ERP systems in general and SAP products in particular. The new interest in digitalization from the C-Suite also gives CIOs a much easier way to show the connection between IT infrastructure spend and high-priority business goals. And maybe even more importantly, it can help provide a stepping stone for the IT department to develop stronger ties with C-level executives and other departments - a move that can help the IT department improve overall employee adoption for major IT processes, helping them keep company data and systems safer from cyberattacks.