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CybersecuritySecurity NewswireCybersecurity News

Cloud adoption is driving up IT budgets

By Security Staff
computer next to phone on red stand

Image via Unsplash

September 21, 2023

The impact of cloud adoption on IT teams was analyzed in a recent report by Aptum. According to the study, 71% of IT professionals surveyed stated that cloud-related costs make up 30% or more of their total IT spend. 

According to the report, more than half (52%) of IT professionals admitted their organizations have wasted significant IT spend due to inefficiencies with cloud platforms and services.

Seventy-three percent of IT respondents reported that their cloud investment has resulted in higher-than-expected IT costs within the last 12 months, marking a 28% increase compared to 2021 figures. Additionally, the majority (92%) of IT professionals stated that they are likely to conduct a full ROI (return-on-investment) analysis of cloud spending, a rise from 89% in 2022.

Currently, 62% of respondents agree that a lack of internal expertise has prevented them from expediting cloud implementations.

Read the full report here.

KEYWORDS: cloud computing cloud security IT budget IT management security budget

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