SMEs are investing in technology and according to a survey from JumpCloud , business leaders and IT administrators are positive about the benefits of automation and AI . But cybersecurity for SMEs remains an area of concern , explains Greg Keller , CTO at JumpCloud . He talks about the risks when investing in new technology and the need for more sophisticated security .

SMES ARE THE ENGINE OF

THE ECONOMY

AND MOST OF THEM ARE CONTINUING TO INVEST IN TECHNOLOGY .

CROSS EUROPE , 100

MILLION people are employed by small- and medium-sized enterprises ( SMEs ). The UK has over five million SMEs , providing three-fifths of employment and £ 2.4 trillion in turnover . As a vital component in the national economy , SMEs must continue to invest in automation , technology-led innovation and underpin this with strong security .

We recently completed our sixth bi-annual SME IT Trends survey , and the good news is that technology investment continues to increase . Not only that , but business leaders and IT administrators are positive about the benefits of automation and Artificial Intelligence ( AI ). However , the other side of this coin is more concerning ; the number of cybersecurity challenges organisations face continues to increase . Our study shows that they need to make bold decisions about their security posture . Failure to do so puts their businesses and employees at risk .

Firms continue to invest in technology

SMEs are the engine of the economy and most of them are continuing to invest in technology ; overall , 82 % report that IT budgets are increasing and 20 % of these report a budget boost of 20 %. IT budgets are set to increase again in 2024 , according to 80 % of survey respondents . In a rapidly digitising economy with rising cybersecurity challenges , this is good news .

As our survey shows , a key area for investment is identity management , with IT administrators viewing it as a way to streamline and centralise identity but retain the openness and benefits of a cloudbased technology framework . This strategic shift is empowering IT teams to cater to employees ’ changing needs and evolving IT environments without adding unnecessary friction , cost or complexity .

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