cyber trends
VANTA ’ S STATE OF TRUST REPORT HAS REVEALED THAT ONLY 9 % OF THE AVERAGE UK COMPANY ’ S IT BUDGET IS DEDICATED TO SECURITY DESPITE RISING RISK OF CYBERATTACKS . THE REPORT ALSO FOUND THAT A SHOCKING NUMBER ( 76 %) OF LEADERS IN FRANCE SAY THEY NEED TO IMPROVE SECURITY AND COMPLIANCE , THE HIGHEST OF ALL MARKETS . anta , a leading trust
V management platform , has released its annual State of Trust Report , an in-depth analysis uncovering global trends in security , compliance and the future of trust . Despite their best efforts , nearly two-thirds of UK businesses ( 66 %) say they need to improve security and compliance measures with one-in-four ( 25 %) rating their organisation ’ s security and compliance strategy as reactive .
UK businesses today are navigating an unprecedented security landscape . The expansion of attack surfaces in a post-pandemic hybrid world , combined with shrinking teams and budgets and the rapid rise of Generative AI , are fuelling an urgent need for companies to improve – and prove – their security
Less than half of UK businesses have strong visibility into security risks facing their organisation
posture . Despite this , according to Vanta ’ s findings , only 9 % of the average UK company ’ s IT budget is dedicated to security .
For companies of all sizes , limited risk visibility and resource constraints make it challenging to improve their security . Fewer than half ( 42 %) of UK organisations rate their risk visibility as strong . Meanwhile , 21 % have downsized IT staff and 62 % have either already reduced IT budgets or are planning to do so as they continue grappling with the challenging global economic environment .
Conducted by Sapio Research on behalf of Vanta , the State of Trust 2023 Report surveyed the behaviours and attitudes of 2,500 business leaders , including the 500 in the UK , as well as respondents across Australia , France , Germany and the US to understand the challenges and opportunities they ’ re facing when it comes to security and trust management .
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