Many companies still don't see the full value of cybersecurity

Date:
Wed, 22 Mar 2023 11:57:07 +0000

Description:
Cybersecurity is essential to win new business and acquire talent, Trend
Micro finds.

FULL STORY ======================================================================

Despite news of devastating cyberattacks breaking almost daily, many business leaders still fail to see the full value a strong cybersecurity posture
brings to their organization, new research has found

This is according to Risky Rewards, a new report published by cybersecurity experts Trend Micro polling more than 2,700 business decision-makers in companies with 250+ employees across 26 countries, finding that around half (51%) see cybersecurity is a necessary cost but not a revenue contributor.

At the same, a somewhat similar percentage - 48% - claim cybersecuritys value is limited to attack and threat prevention. For nearly two-fifths (38%) cybersecurity is a barrier, not a business enabler. Winning new clients

If organizations want to make the most of their security investments,
business leaders must reframe their view of cybersecurity to think more broadly about how it can positively impact the enterprise, commented Jon
Clay, VP of threat intelligence at Trend Micro.

This research shows its clearly a critical component of winning new business and talent. At a time when every dollar/penny counts, its concerning to see stereotyped views of security persist at the very top.

Further in the report, Trend Micro claims 81% worry that a poor cybersecurity posture could hurt their ability to close new clients. In fact, for 19% this already happened. Whats more, 71% of business decision-makers are being asked about their cybersecurity posture in negotiations with potential customers
and suppliers, with 78% admitting the questions are getting more frequent. Read more

What is the best cybersecurity solution for medium to large businesses?

Managing cloud cyber security

Check out the best endpoint protection solutions right now

Cybersecurity has also become pivotal for talent acquisition. Almost three-quarters (71%) said remote and hybrid working offerings are now essential for talent acquisition. For 83%, current security policies affect remote employees ability to do their jobs, with 43% saying current security policies prevent employees from working remotely. Also, 54% said their policies restrict what devices and platforms employees can use for work.

Finally, two-thirds (64%) of business decision-makers confirmed theyre planning on increasing their security budgets this year. These are the best firewalls right now



======================================================================
Link to news story: https://www.techradar.com/news/many-companies-still-dont-see-the-full-value-of -cybersecurity


--- Mystic BBS v1.12 A47 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)