Business Wire

Businesses are Prioritising Cybersecurity Above All Else, Optiv Security Report Finds

Share

With the rise of the data breach epidemic, and the imposition of comprehensive privacy regulations and significant legislation requirements, cybersecurity has become a tier-one business risk. As a result, the chief information security officer’s (CISO) role in a business has dramatically increased in value. In fact, 64 percent of businesses now prioritise cybersecurity above all else, even if it slows some users’ productivity down, according to a new research report from Optiv Security. The report, “The State of the CISO,” takes an in-depth look at the approach to cybersecurity taken by CISOs, CSOs and senior IT decision makers, the strategies they have in place and their experience of data breaches.

Cybersecurity becomes a business priority

The research found that the importance of cybersecurity is now better understood by business executives and board members. In fact, 96 percent of respondents indicated they are taking a more strategic approach to cybersecurity as a result of being greater aligned with business leaders.

“Some organisations are further along this evolutionary curve than others, but without business’ buy-in to a cybersecurity program, CISOs will undoubtedly struggle to keep their organisations safe from looming cyber threats,” said Andrzej Kawalec, Optiv’s director of strategy and technology, Europe. “We are seeing a significant shift in the industry, whereby cybersecurity is now a business issue. CISOs are being regarded as an important part of major business initiatives such as next-generation digital transformation, which has led to more funding for cyber programs. The board now understands that a major security or compliance miscue can derail a business.”

When it comes to the approach to cybersecurity, the research found that 66 percent of IT security decision makers felt greater awareness of security risks within the IT function has had a significant impact on currently existing cybersecurity policies. Compliance with external standards such as GDPR follows closely behind at 56 percent, but basic functions like vulnerability and patching is only prioritised by 32 percent of respondents. Employee education was deemed a top priority by 58 percent of respondents, as was simplifying infrastructure (54 percent) and aligning security with development operations to create a DevSecOps model (47 percent).

“It is concerning in light of the fact that, by some estimates, unpatched vulnerabilities account for more than half of all data breaches,” continued Kawalec. “By getting the basic functions of cybersecurity right, IT decision makers can drastically improve their chances of defending against a cyber-attack, since unpatched software is often cited as the most common cause of data breaches.”

The greatest security threats

The research also identified that 31 percent of respondents believe that organized crime and politically motivated acts are seen as the greatest threats to cybersecurity, while 28 percent believe this to be hacktivists. Insider threats are seen as critical by 26 percent and just 15 percent of respondents cited third parties as a threat to their cybersecurity. To deal with cybersecurity threats, 92 percent of respondents have an incident response plan in place, but rehearsing this plan is lagging, with 44 percent of businesses stating they only rehearse once a year or less.

The report finds that breaches still seem to serve as a wake-up call for organizations, with 39 percent of businesses implementing changes in their security program only after an incident. While 65 percent cited that recovery from the breach was well coordinated and successful, over a third (35 percent) reported that recovery costs were still higher than it would have cost to invest in better breach defence.

To read the full report, please visit Optiv’s website.

Methodology

Optiv launched an independent research series to discover how IT decision makers approach cybersecurity. To produce its research and resulting report, Optiv worked with London-based research agency, Loudhouse. Loudhouse is an independent agency that specializes in technology and B2B research for global brands.

Loudhouse conducted online interviews with 100 US- and 100 UK-based CISOs, CSOs and Senior IT decision makers at enterprise businesses (between 500 and 5000+ employees), to understand their approach to cybersecurity, the strategies they have in place, and their experience of data breaches.

Follow Optiv
Twitter: www.twitter.com/optiv
LinkedIn: www.linkedin.com/company/optiv-inc
Facebook: www.facebook.com/optivinc
YouTube: https://www.youtube.com/c/OptivInc
Blog: https://www.optiv.com/explore-optiv-insights/blog

Optiv Security: Who Secures Your Insecurity?
Optiv is a security solutions integrator – a global, “one-stop” trusted partner with a singular focus on cybersecurity. Our end-to-end cybersecurity capabilities span risk management and transformation, cyber digital transformation, threat management, cyber operations, identity and data management, and integration and innovation, helping organisations realize stronger, simpler and more cost-efficient cybersecurity programs that support business requirements and outcomes. At Optiv, we are modernizing cybersecurity to enable clients to innovate their consumption models, integrate infrastructure and technology to maximize value, achieve measurable outcomes, and realize complete solutions and business alignment. For more information about Optiv, please visit us at www.optiv.com.

Contact information

Brett Ater
(913) 304-7683
Brett.ater@optiv.com
or
Jason Cook
(816) 701-3374
Jason.cook@optiv.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

With Putin’s Visit, UAE Takes Spotlight in the New World Order14.10.2019 08:21:00 CESTPress release

Watermelon Communications -- Patrick Michael, a commentator on the Middle East, wrote: Energy, Strategy, and Security; these three parameters have defined and shaped Russia-Middle East relations in the post-Cold War era. At a microcosmic level, this also applies in the case of UAE-Russia ties. While energy creates interdependence and makes partnership the only viable option on the table, security and strategy continues to be an entangled web. As Putin embarks on another significant visit to the Gulf – essentially UAE and Saudi Arabia – it’s time to revisit the three parameters. A good starting point is the conversion of views and strategies on energy supplies. A broad agreement over the output cut is critical considering the pressure on oil prices in the wake of a slowing global economy. There’s nothing more fruitful for the industry and the economy than the big suppliers working in coordination and Russia “deeply values the significant contribution the UAE is making to the global oil

Metanoia Announces Its Next Generation Broadband Access Technology14.10.2019 07:11:00 CESTPress release

BROADBAND WORLD FORUM 2019--In order to respond to the ever increasing demand for higher data rate of xDSL over copper, coax lines, Metanoia Communications (“Metanoia”) announced today the launch of its latest family of chipsets that supports all the ITU-T Gfast (212MHz profile) and VDSL2 (35MHz profile) standards and builds on Metanoia’s proven Gfast, VDSL2 and ADSL2/2+ technology. With its MT-x2331 product family, Metanoia will deliver the industry first next generation broadband access xDSL PHY chipset for multiple applications including home gateways, low density xDSL Central Office systems and standalone xDSL termination, such as SFP modules. Emerging trends in the Broadband Access Networks make the use of standalone xDSL PHY solution more pertinent for WAN PHY agnostic platforms. A standalone xDSL PHY enables cost-effective upgrade of existing WAN deployments, an approach which is increasingly attractive to Operators. Metanoia MT-x2331 series is a chipset family that supports all

BIZCENTER USA Launches Coworking Facility in Orlando With Plans for Nationwide Franchise14.10.2019 04:01:00 CESTPress release

Multimedia, Inc. (www.multimediausa.com) starts today the operations of BIZCENTER USA LLC, its affiliate for shared workspaces and virtual offices. Located on a fully owned 4,400 sq. ft. area in one of the most strategic regions of Orlando, Florida, BIZCENTER USA is offering brand-new state of the art executive suites in a facility with upscale conference rooms, reception, luxury lounge, and kitchen. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191013005018/en/ Founded in Orlando in 1991, Multimedia is a leading marketing and communications company, highly recognized worldwide for its professional integrity, serving advertising agencies, direct clients and media outlets across all continents. According to Fernando Mariano, president of both companies, the creation of BIZCENTER USA fulfills the needs for a stylish shared workspace and virtual office facility in Southwest Orlando. “Multimedia has strong ties with the Orlando

Vodafone Idea and Mavenir Partner to Extend Network as a Platform14.10.2019 01:00:00 CESTPress release

Mavenir, the industry's only end-to-end cloud-native 4G and 5G network software provider for CSPs today announced the extension of its partnership with Vodafone Idea Limited (VIL), India’s leading telecom operator, to extend VIL Network as a Platform, reaching distributed presence across all the major Industrial, Commercial, and Services clusters in India. This partnership will focus on three thrust areas. First, building a universal secured Cloud capable of hosting multiple tenants and third-party applications. Second, building a fully automated platform that enables self-provisioning of various workloads. Third and most importantly, setting up a joint innovation lab and team that will consistently innovate on Chipset, Operating System, and work at Application level to offer unique APIs and enable new use cases and delightful experience to VIL customers. “Vodafone Idea has the largest Edge Cloud deployment in India. Our partnership with Mavenir will enable continued innovation in opti

SHINE Creates Therapeutics Division, Will Attend 2019 European Association of Nuclear Medicine Conference12.10.2019 04:00:00 CESTPress release

SHINE Medical Technologies, LLC today announced the creation of a new division of the company — SHINE Therapeutics. The establishment of the division enhances the company’s ability to focus on filling critical future needs in the rapidly growing therapeutic isotope market, while continuing to leverage its radioisotope production expertise. The company’s Therapeutics division will initially focus on the development and commercialization of lutetium‑177, or Lu‑177, a therapeutic isotope that is combined with a disease-specific targeting molecule to treat cancer. Targeting molecules deliver Lu‑177 atoms to cancer sites throughout the body, where they directly irradiate cancer cells. The first Lu‑177-based targeted radiotherapy (for neuroendocrine tumors) reached the market in 2018. Many high-potential targeted molecules for the treatment of a range of other cancers with Lu-177 are currently under investigation. SHINE is also evaluating additional medical isotopes with therapeutic properti

Smart Taxation – A Step Towards a Fair, Efficient and Growth-Friendly European Taxation Approach11.10.2019 22:01:00 CESTPress release

In a rapidly changing global economy, smart taxation is essential to drive growth and economic prosperity. However, the European Union (EU) continues to fall behind as it persists with a one-size-fits all taxation system. This year’s GLOBSEC Tatra Summit hosts a Focus Group, bringing together international experts, looking to reshape and support a smarter European tax policy. Europe is at a crossroads in adapting its tax policy to the realities of today’s global economy. The EU plays a key role in overseeing national tax rules in some areas - particularly in relation to EU business and consumer policies. The institutional changeover marks a perfect opportunity for the Tatra Summit to place major topics on the radar of decision-makers and offer efficient recommendations. So now is the time to adapt the EU’s taxation model to be fit-for-purpose. With member states around the table, European fiscal authorities should design a model that does not have a disruptive impact on national needs