New Study Finds 80 Percent of Businesses Have Experienced a Cyber Incident Such as Security Breach
Hikvision Covers Study on Cost of Data Security Breach
A new report, “Better Security and Business Outcomes with Security Performance Management,” found that 80 percent of surveyed companies have experienced a cybersecurity incident such as security breach in the last year, according to an article in Security magazine.
From the report: “In today’s competitive marketplace, security has become a crucial market differentiator. Companies increasingly realize that security is critical to: earning customer trust; securing intellectual property; and protecting the brand. Customers want to do business with secure businesses—and since empowered customers can easily move their
business elsewhere if they feel vulnerable, security decision makers must understand and measure their program’s effectiveness and communicate that to internal and external stakeholders.”
Additional report findings include:
- 79 percent of companies stated that cyber reporting needs have grown in recent years.
- 48 percent of C-level respondents said ability to attract new customers was diminished after a cyber-incident.
- 63 percent invested in new technology for better measurement of security performance. “Companies using formal security metrics are more likely to have seen a 10 percent or greater increase in their security budget over last year,” according to the article.
To learn more about the study, click here to read the entire article.
For more about security breach, read the Hikvision blog: “Security Breach Study Finds Breaches Cost $654B in 2018.”