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Procurement Model Changes
Organizations used to buy cybersecurity products in perpetual licenses, meaning the cost associated with the license would usually drop by 90 percent after the license shifted into maintenance mode, according to Symantec President and COO Michael Fey. That price drop would create a nice gap in the CISO's budget to buy other security products, Fey said.
But over the last couple of years, organizations have shifted to procuring security products as a subscription, which Fey said increase in price every year rather than decreasing like licenses.
Between rising subscription costs, rising labor costs, cost-intensive regulations like GDPR and no more products shifting to maintenance, Fey said CISOs now find themselves struggling to provide an adequate level of security while staying within budget.
