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.
You won’t want to miss the next installment in 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.