Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, this week released new research* revealing that while global organizations plan to increase cybersecurity budgets in 2023, business leaders hold conflicting views on the function.
To read a full copy of the report, Risky Rewards, please visit: https://www.trendmicro.com/explore/risk-reward2023/2031-tl-en-rpt#page=1
Jon Clay, VP of threat intelligence at Trend Micro: “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. This research shows it’s clearly a critical component of winning new business and talent. At a time when every dollar/penny counts, it’s concerning to see stereotyped views of security persist at the very top.”
Nearly two-thirds (64%) of business decision-maker (BDM) respondents say they plan to increase security investment in 2023.
However, the research also reveals critical gaps in BDMs’ understanding of the relationship between cybersecurity and other parts of the organization.
On the one hand, half (51%) claim cybersecurity is a necessary cost but not a revenue contributor, while a similar share (48%) argue that its value is limited to attack/threat prevention. Nearly a fifth (38%) even see security as a barrier rather than a business enabler.
Despite 81% of business decision-makers (BDMs) worrying that a lack of cybersecurity credentials could impact their ability to win new business and nearly three-quarters (71%) of BDMs admitting to being asked about security posture in negotiations with prospects and suppliers, only 57% of BDMs perceive a strong or very strong connection between cyber and client acquisition/satisfaction. This contradiction is further highlighted by respondents’ lack of understanding about the interconnectivity between cybersecurity and other areas of the business, such as talent acquisition.
While 71% of respondents claim that the ability to work from anywhere has become vital in the battle for talent, only around two-fifths understand the strong connection between cybersecurity and employee retention (42%) and talent attraction (43%). Despite recognizing the impact of cybersecurity on the employee experience, with 83% saying that current security policies have affected remote employees’ ability to do their jobs, 43% saying that current security policies place restrictions on employees’ ability to work from anywhere, and 54% saying that current policies restrict what devices/platforms employees can choose to use, there are still gaps in BDMs’ understanding of the interconnectivity between cybersecurity and the rest of the business.
These findings come from a poll commissioned by Trend Micro, a global cybersecurity leader that helps organizations protect themselves from cyber threats with its advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google. Trend Micro’s cybersecurity platform is trusted by hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints, and its 7,000 employees in 65 countries help organizations simplify and secure their connected world.
Go to Source
Author:
