To recap the trends and insights of 2019, Deloitte Cyber conducted a survey of 500 C-level executives who were tasked with cyber security.  The goal was to identify, dissect and understand the practical cyber security lessons these global organizations could share with business and industry as a whole. The companies polled represented profits of $500 million per year or more, but the lessons learned are a clear indication to small business as what to expect as these technologies proliferate into all size organizations.

Cyber Security Lessons Learned

The most compelling lesson learned was that aspirational goals are still not being achieved due to budget constraints. Technology is moving quickly, and the Internet of Things, trends in AI, and security are so prolific that organizations feel they need to do “everything” to stay competitive while realizing this is likely not possible. Cyber security lessons include how to best navigate budgets, needs and keeping up with the threats.

The main problem in dealing with cyber security is demonstrated in the responses from executives. There is no one clear issue that they feel is important, rather each identified issue received equal amounts of votes as to having importance.

For instance, when asked what was the most important issue when dealing with their organization’s digital transformation, 17% indicated that moving their networks to the cloud was the most important thing. However, better data analytics, AI and machine learning, the Internet of Things (IoT), and blockchain/cryptocurrency each garnered a 14-15% vote. This puts all of these issues virtually on the same level of importance.

When asked why these goals were not being realized in their organizations, the responses were equally dispersed. 15% of respondents said that it is difficult to prioritize cyber security across all levels of the company. 14% reported a lack of management alignment as to the importance of cyber risk strategies. 14% discussed a lack of cyber security professionals or expertise in their organization. 13% blamed a lack of adequate funding to move the initiatives forward.

Sadly, 90% of respondents indicated that they had experienced a leak of sensitive data or information from their environments. This presents the biggest problem facing cyber security – there is a real disconnect between the acknowledged needs and issues, and the means (both financial and operational) to deal with solving the problems and facing those risks.

The cyber security lessons learned are as follows:

  • The pressure on executives to identify, address and solve cyber security and data sensitivity issues is increasing daily.
  • Executives need to form teams which are dedicated to cyber security initiatives, and are adequately funded – or else they will likely find themselves in crisis mode more often than not. 77% of C-level executives say that the items are on their board meeting agendas quarterly – meaning that these issues clearly need a champion to make sure they are addressed.
  • The best way to create an organizational-wide adoption of cyber-security initiatives is to imbed cyber-security professionals in all departments, regardless of specialty. In other words, your accountant, shipping, and marketing new hires can come from a cyber-aware environment or background.

Another great way to infuse a culture of cyber awareness is to hire a local Sarasota managed services firm to help your organization. Because our personnel offer professional expertise in all areas of security, networks, and the Internet of Things, we can augment your personnel and staff and provide the tools you need to attack these issues head-on. Call Alliance IT today for more information.