Research shows that despite the overwhelming majority of Indian companies saying their business is likely to be affected by a cybersecurity threat in the next 12 to 24 months, Less than 5% of companies are prepared to deal with it.
According to the Cisco Cybersecurity Readiness Index 2024 released on Thursday, only 4% of businesses in India are prepared to deal with today's threats, and 59% of organizations are in the 'early or formative stages of readiness. I found out that there is.
Globally, 3% of companies are at the “maturity stage”, meaning they are ready to deal with cybersecurity risks, the report said.
Cisco said that while businesses are building defenses against these attacks, their overly complex security posture, dominated by multi-point solutions, is slowing them down.
The study is based on a survey of 8,136 private sector business leaders, more than 1,000 of whom are Indian, who are responsible for cybersecurity within their organizations.
The study found that 82% of those surveyed expect a cybersecurity incident to disrupt their business within the next 12 to 24 months.
The report states, “74% of respondents said they had experienced a cybersecurity incident in the past 12 months, and 55% of those affected said at least $300,000 in damages occurred. , the costs of not being prepared can be significant.”
Additionally, the traditional approach of deploying multiple cybersecurity point solutions is not effective, as 88% of respondents admitted that deploying multiple point solutions reduced their team's ability to detect, respond, and recover from incidents. He said that it had not produced any good results.
Companies are aware of cybersecurity risks, but a talent shortage is exacerbating the problem, the report said.
“Progress is further hampered by a critical talent shortage, with 91% of companies highlighting it as an issue. In fact, 59% of companies only had 10 cybersecurity-related roles within their organization at the time of the survey. ” said the study.
However, businesses are increasing investment to tackle the issue, with 71% planning major IT infrastructure upgrades in the next 12 to 24 months, the survey added.
