The vast majority (89 percent) of security leaders at large enterprises are struggling with visibility and insight into trusted data, says the report. Nearly a third (31 percent) are concerned that a lack of visibility will impact their ability to adhere to regulations, it says.

On average, enterprise security teams are grappling to manage an average of 57.1 discreet security tools. More than one quarter of respondents (26.5 percent) claimed to be running 76+ security tools across their organization, according to the report.

When asked about the key drivers for new security initiatives and tools, the majority (55 percent) are being driven by external factors, such as regulations and internal factors (32 percent), such as board driven initiatives. However, when asked how effective the current security tools were, nearly three quarters (70.5 percent) of security leaders admitted that they do not evaluate a security tool based on its impact on reducing cyber risk.

According to the report, security teams now spending more than one third of their time (36 percent) manually producing reports.  

When asked how they spend manual reporting time, the biggest task is formatting and presenting data (38.46 percent), followed by moving data (34.62 percent) across spreadsheets. 70 percent of security teams use manually compiled data for reporting to the Board, 57 percent claim they send manual reports to regulators and half (50 percent) said that they shared manually collated reports with auditors.