News Summary:

  • Readiness is critical: 82% of respondents said they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months
  • The cost of being unprepared can be substantial: a majority of respondents said they had a cybersecurity incident in the last 12 months, which cost at least $500,000 for 41% of organizations affected
  • Companies are taking action: 86% of respondents said their organizations plan to increase their cybersecurity budget by at least 10% over the next 12 months

SAN JOSE, Calif., March 21, 2023 — A mere 15% of organizations globally have the ‘Mature’ level of readiness needed to be resilient against today’s modern cybersecurity risks, according to Cisco’s (NASDAQ: CSCO) first-ever Cybersecurity Readiness Index released today. The index has been developed against the backdrop of a post-COVID, hybrid world, where users and data must be secured wherever work gets done. The report highlights where businesses are doing well and where cybersecurity readiness gaps will widen if global business and security leaders don’t take action.

Organizations have moved from an operating model that was largely static – where people operated from single devices from one location, connecting to a static network – to a hybrid world in which they increasingly operate from multiple devices in multiple locations, connect to multiple networks, access applications in the cloud and on the go, and generate enormous amounts of data. This presents new and unique cybersecurity challenges for companies.

Cisco Cybersecurity Readiness Index: Resilience in a Hybrid World

Titled, Cisco Cybersecurity Readiness Index: Resilience in a Hybrid World, the report measures the readiness of companies to maintain cybersecurity resilience against modern threats. These measures cover five core pillars that form the baseline of required defenses: identitydevicesnetworkapplication workloads, and data, and encompasses 19 different solutions within the pillars.

Conducted by an independent third party, the double-blind survey asked 6,700 private sector cybersecurity leaders across 27 markets to indicate which of these solutions they had deployed and the stage of deployment. Companies were then classified into four stages of increasing readiness: BeginnerFormativeProgressive, and Mature.

Findings

Alongside the stark finding that only 15% of companies are at the Mature stage, more than half (55%) of companies globally fall into the Beginner (8%) or Formative (47%) stages – meaning they are performing below average on cybersecurity readiness.

This readiness gap is telling, not least because 82% of respondents said they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months. The cost of being unprepared can be substantial, as 60% of respondents said they had a cybersecurity incident in the last 12 months and 41% of those affected said it cost them at least US$500,000.

“The move to a hybrid world has fundamentally changed the landscape for companies and created even greater cybersecurity complexity. Organizations must stop approaching defense with a mix of point tools and instead, consider integrated platforms to achieve security resilience while reducing complexity,” said Jeetu Patel, executive vice president and general manager of security and collaboration at Cisco. “Only then will businesses be able to close the cybersecurity readiness gap.”

As these companies invest in their cybersecurity readiness, confidence in their ability to stay resilient will also improve. Currently, of the companies that are ranked Mature, 53% said they are ‘Very Confident’ in their ability to tackle the risks. On the other hand, only 30% of companies in the Beginner stage, and 34% in the Formative stage feel the same.

Business leaders must establish a baseline of ‘readiness’ across the five security pillars to build secure and resilient organizations. This need is especially critical given that 86% of the respondents plan to increase their security budgets by at least 10 percent over the next 12 months. By establishing a base, organizations can build on their strengths and prioritize the areas where they need more maturity and improve their resilience.

Source

22 comments
  1. It’s a shame you don’t have a donate button! I’d without a doubt donate to this brilliant blog! I guess for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to brand new updates and will talk about this site with my Facebook group. Talk soon!

  2. I am not certain where you are getting your info, however good topic. I needs to spend a while learning much more or figuring out more. Thank you for fantastic info I was in search of this information for my mission.

  3. I’m extremely impressed with your writing skills as well as with the structure on your weblog. Is this a paid topic or did you customize it your self? Anyway stay up the nice quality writing, it is rare to peer a nice weblog like this one nowadays..

  4. Greetings! I know this is kind of off topic but I was wondering if you knew where I could get a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having problems finding one? Thanks a lot!

  5. I would like to thank you for the efforts you have put in writing this web site. I am hoping the same high-grade website post from you in the upcoming as well. In fact your creative writing skills has inspired me to get my own blog now. Actually the blogging is spreading its wings rapidly. Your write up is a good example of it.

  6. Needed to write you this very little note just to give thanks yet again about the striking things you’ve documented in this article. It was so open-handed with people like you to give without restraint all most people would’ve offered for an ebook to earn some money for themselves, even more so given that you could have tried it if you ever wanted. These suggestions as well acted to be the easy way to fully grasp some people have similar dream really like mine to grasp lots more related to this condition. I think there are some more enjoyable opportunities in the future for individuals that see your blog post.

  7. Hi there! Someone in my Myspace group shared this site with us so I came to check it out. I’m definitely loving the information. I’m bookmarking and will be tweeting this to my followers! Excellent blog and superb design.

  8. Thanx for the effort, keep up the good work Great work, I am going to start a small Blog Engine course work using your site I hope you enjoy blogging with the popular BlogEngine.net.Thethoughts you express are really awesome. Hope you will right some more posts.

  9. Hi! Someone in my Facebook group shared this website with us so I came to check it out. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Outstanding blog and fantastic design and style.

  10. Thanks for the sensible critique. Me & my neighbor were just preparing to do a little research on this. We got a grab a book from our local library but I think I learned more clear from this post. I am very glad to see such excellent info being shared freely out there.

  11. Do you mind if I quote a couple of your articles as long as I provide credit and sources back to your blog? My website is in the very same area of interest as yours and my users would truly benefit from some of the information you provide here. Please let me know if this ok with you. Appreciate it!

  12. Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Across the globe, Apple and its teams find new ways to give

The company’s Employee Giving program has raised over $880 million, with more…

Helping Indian startups drive global app innovations with MeitY Startup Hub

India is one of the fastest-growing app markets in the world. Millions…

New Cisco 800G Innovations Help to Supercharge the Internet for the Future

News Summary: Cisco’s new 28.8T / 36 x 800G line card, powered…

New immersive AR experience brings student creativity to life

Australian artists create a new immersive educational experience, inspiring global cocreation and…

Apple lands historic first Best Picture Oscar nomination for “CODA,”and secures six Academy Award nominations including Best Actor for Denzel Washington in “The Tragedy of Macbeth” and Best Supporting Actor for Troy Kotsur in “CODA”

CUPERTINO, CALIFORNIA Apple today made history, landing six Academy Award nominations in several…

Mars and Microsoft work together to accelerate Mars’ digital transformation and reimagine business operations, Associate experience and consumer engagement

Mars and Microsoft work together to accelerate Mars’ digital transformation and reimagine business operations, Associate experience and consumer engagement

KPMG and Microsoft enter landmark agreement to put AI at the forefront of professional services

Multi-year cloud and AI alliance to supercharge the employee experience and accelerate…

Microsoft launches Surface Laptop Go in India

New Delhi, January 21, 2021– Microsoft announced the availability of the Surface…