Is your business prepared for rising cyber threats?
Many aren’t, according to recent research:
The survey concluded that, despite recognizing cybersecurity as a high-impact risk, few organizations have acted on their concern. That in itself is a risky proposition in today’s connected, technology-driven business landscape.
Paired with other recent statistics like the increasing frequency of security breaches and the rising costs of cybercrime and recovery, these figures paint a grim picture of the typical organization’s preparedness in the areas of cybersecurity and IT risk management.
Did you know?
Organizations worldwide averaged 130 security breaches a year, up nearly 30% from 2016 to 2017. Spending on cybercrime incidents and recovery averaged $11.7 million per organization, up nearly 23% from 2016. Average costs escalate to more than $17 million for businesses in the financial services and energy / utilities industries.
They also show that a strong risk management program is essential for protecting your organization’s processes, resources, and reputation.
Next, read part 2 of our cybersecurity series, where we’ll look at some best practices that businesses can follow to secure their future against cyber threats and IT risks.