cyber trends
The security improvement imperative
With rising risk and shrinking resources , the message is clear : businesses need new methods to improve their security . Compounding the urgency is ever-evolving global regulation and the growing timesuck of complying with an increasing number of standards . In an environment where customers want more insight into a company ’ s security practices , organisations are at an impasse .
Two-thirds ( 67 %) say that customers , investors and suppliers are increasingly looking for proof of security and compliance . While 37 % provide internal audit reports and third-party audits and 39 % complete security questionnaires , one-in-eight ( 12 %) admit they don ’ t or can ’ t provide evidence when asked . That means UK companies are falling at the very first hurdle – costing them potential revenue and growth opportunities in new markets . Additionally :
• The average UK leader spends on average 7.5 hours per week – more than nine working weeks a year – on achieving security compliance or staying compliant .
• The two biggest barriers to proving and demonstrating security externally are a lack of staffing ( 33 %) and lack of automation to replace manual work ( 30 %).
• Only 10 % of UK businesses ’ IT budgets are dedicated to security , with one-in-three leaders saying www . intelligentciso . com
19