Security Budgets Grow, but Inefficiencies Persist

June 27, 2024 | Organizations are increasing their cybersecurity budgets but remain uncertain about the effectiveness of their investments, according to Optiv’s 2024 Threat and Risk Management Report. While budgets have increased by 59% year-over-year, only 36% have a formal budgeting approach, leading to inefficiencies and missed opportunities. The report reveals that 61% of organizations experienced a data breach in the past two years, and 73% are adopting SOAR technology to improve incident response efficiency.

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