The Flexera survey reveals that 31% of IT leaders feel they are overspending on security tools, an increase from last year, which indicates ongoing concerns about the inflation and integration challenges in this area.
In terms of IT spending priorities, while IT security risks are a significant concern for 28% of leaders, the need for AI implementation remains dominant, suggesting a complex balancing act for IT budgets.
The Flexera survey found that 68% of IT leaders are unaware of the full extent of their business units' cloud and SaaS spending, indicating a significant gap in visibility and management.
The average reported overspend on various IT-related tools and services is around 20-25%, highlighting the urgent need for IT leaders to gain better visibility and control over their technology investments.
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