A Ponemon Institute Research Report released last week for IBM has revealed insights into the state of cyber resilience for businesses in 2019. The report surveyed 3655 IT professionals in over 11 countries and regions globally, including Australia, and found that only just over half of all respondents believed their organisations were confident in preventing, detecting and containing a cyberattack.
Australian businesses increasingly at risk
As cybersecurity breaches rise to the forefront of vulnerabilities for Australian businesses who rely on the internet for their day-to-day operations (which for the most part is a majority), it’s become increasingly important for organisations to have confidence in their abilities to uphold their integrity and core purpose if an attack were to happen.
The report found that 77% of respondents indicated that their organisation did not have a cyber security incident response plan that could be applied consistently across the organisation, yet 79% of all respondents reported that they had more than one cyber security incident in the past two years.
Cybersecurity professionals wanted
IBM’s 2018 Cost of a Data Breach Study found that breaches are costing businesses an average of AUD$5.42 million (US$3.86 million) a year globally. Linking these numbers with the newly released cyber resilience figures demonstrates the millions that businesses can save if they correctly implement strategies to prevent cyber security incidents in the future.
Overall, 79% of respondents in the 2019 report acknowledged the importance of having skilled cybersecurity professionals in their cyber security incident response plan (CSIRP), yet 75% identified difficulty in hiring and retaining skilled IT security personnel.
The report shed light on the increasing ubiquity of cybersecurity threats of the past two years:
- 55% of all respondents said their organisations had data breaches containing sensitive or confidential information
- 57% reported that a cybersecurity incident had resulted in a significant disruption to IT and businesses processes
- A third of respondents identified that disruptive incidents had happened four to five times.
By partnering with a managed service provider, you’re ensuring that your business’ security efforts are being looked after by experienced professionals. Our Newcastle based managed services team offers proactive IT support that provides unrivalled threat prevention and security monitoring.
Being proactive when it comes to cyber security is necessary to make sure your business doesn’t fall victim to the increasingly prevalent and vicious threats. An essential first step in preventing breaches is to make sure all staff are trained in recognising the most simple cyber security and phishing attacks. We’ve written an article on how to identify some of the most common cyber attacks here.
If you’re ready to take your business’s cybersecurity to the next level, get in contact with our experienced team for a security posture assessment.