As threats grow in both volume and sophistication, a new cybersecurity strategy report from Forbes Insights reveals trends in enterprise security.
The report, released in June 2019, explores environmental, technological and organizational business factors based on a survey of 1,001 global enterprises. And while businesses continue to evolve their cybersecurity strategies and execution, the report revealed a dramatic gap between “trailblazers” and “laggards.”
We’ve boiled down the report to five key insights on where enterprise security is today—and what’s needed to secure businesses for the future.
5 Key Findings from the Forbes Insights Cybersecurity Strategy Report
1. Only 10% of surveyed enterprises fall into the security trailblazer category.
The Forbes Insights report categorizes security trailblazers as the organizations executing comprehensive cybersecurity strategies that achieve the following goals:
- Help businesses meet their core objectives, including brand reputation, customer experience and product innovation.
- Develop an enterprise-wide, coherent security approach.
- Protect organizations by delivering intrinsic security across every area of the business—from the edge to the app and from the cloud to the data center.
2. Cybersecurity trailblazers are 10-times more likely to be among the fastest-growing companies.
The Forbes Insights survey insights draws a clear connection between security strategies and company growth. Forty-one percent of trailblazers report annual growth rates exceeding 20 percent, compared to only 4 percent of lagging counterparts.
3. Trailblazers see security as a core component for achieving key business goals.
Seventy-four percent of trailblazers cited that “maintaining brand reputation” is a key intersection of security strategy and business objectives. Following at a close second (70 percent) is improving the customer experience.
To achieve these lofty goals, 95 percent of trailblazers integrate security into their infrastructures from the beginning. Sixty-eight percent said security is integrated into how they expand and grow product and service lines.
4. Budget tops the list of security pain points.
When asked about their top pain points, 47 percent surveyed trailblazers cited budget as the leading concern. A coherent strategy ranked second (42 percent), with the need for stronger policies and guidelines coming in third (41%).
When it comes to technology, the Forbes Insights report cites:
“Forty-three percent of trailblazers report difficulty in managing devices and apps accessed from anywhere, compared with only 10 percent of laggards,” the Forbes Insights authors continue.
5. Zero-trust policies come into focus.
A majority of the cybersecurity experts—trailblazers and laggards alike—agreed that they’re focused on two specific areas of investment:
- Eighty-three percent of trailblazers say they intend to focus on detecting and identifying attacks. This compares closely to laggards at 71 percent.
- Fifty-one percent of trailblazers identified “reducing attack surface” as an investment priority, compared to 40 percent of laggards.
Cybersecurity Strategy: Trailblazer or Laggard?
According to the Forbes Insights report:
“Clearly a distinguishing characteristic of a cybersecurity trailblazer is an understanding that security must be intrinsic across all levels of business—from technology to processes to people to culture.”
What is intrinsic security? And what does it mean to identify the known good? Watch this quick video to learn more.