Too many businesses are still unaware of the significant benefits of using appropriate cybersecurity measures.
It is worrying that, despite the news of cyberattacks circulating daily, many business executives still do not recognize the countless benefits that a strong cybersecurity strategy can bring to their organization – this is what new research reveals.
Cybersecurity professionals from Trend Micro just released the Risky Rewards report, which surveyed the opinions of more than 2,700 business leaders at companies with 250+ employees across 26 countries. Nearly half (51%) believe cybersecurity is nothing more than an unavoidable expense rather than something capable of generating revenue.
At the same time, nearly half of respondents (48%) said that cybersecurity is “limited” to attacking and preventing potential threats. Notably, a similar percentage (38%) believe that cybersecurity adds a barrier rather than facilitating their business.
See also: Was Saks Fifth Avenue hacked with Clop ransomware?
See also: Hackers use new CommonMagic framework and PowerMagic backdoor
Acquiring new supporters
“It is essential for businesses to reframe their perspective on cybersecurity if they are to fully leverage their security investments,” noted Jon Clay, vice president of threat intelligence at Trend Micro. By reframing the way we view cybersecurity as a positive force for business, organizations are able to maximize its potential and reap the benefits that come with it.
"This research shows that it is clearly a critical element in acquiring new business and talent. In an era where every dollar counts, it is concerning to see stereotypical views of security remain at the top.".
In its report, Trend Micro revealed that 81% of business decision-makers are concerned that a lack of security will negatively impact their ability to acquire new customers. Unfortunately for 19%, this has already happened – and 71% even reported that most negotiations with potential customers now include inquiries about their security posture! What’s more, 78% admitted that these questions are becoming more common over time.
See also: The REF2924 hacking group uses the custom malware “Naplistener”
Cybersecurity is a top priority when it comes to hiring and talent acquisition. 71% of employers indicated that offering hybrid remote work capabilities is critical to hiring, and 83% reported that their current security policies significantly impact employees’ ability to work remotely. Of these organizations, 43% revealed that existing security measures prevent staff from performing tasks outside of the office; meanwhile, 54% indicated that they have limited which devices/platforms employees can use when they are at home.
Additionally, an impressive 64% of business decision-makers admitted that they plan to increase their cybersecurity budget in the coming year.
Information source: techradar.com
