Executives Adopting New Tech to Manage Cyberthreats

The Global State of Information Security Survey 2017, by PwC in conjunction with CIO and CSO, examines how executives are adopting technology and collaborative approaches to cybersecurity and privacy to manage threats and achieve competitive advantages.

Many organizations no longer view cybersecurity as a barrier to change or as an IT cost. According to the survey, 59 percent of respondents said they have increased cybersecurity spending as a result of digitization of their business ecosystem. In this process, organizations not only create products, but also deliver complementary software-based services for products that extend opportunities for customer engagement and growth.

Survey results also found that as trust in cloud models deepens, organizations are running more sensitive business functions on the cloud. Today, the majority of organizations around the world—63 percent of survey respondents—say they run IT services in the cloud. Additionally, approximately one-third of organizations were found to entrust finance and operations to cloud providers, reflecting the growing trust in cloud models.

According to survey respondents, organizations are also embracing both managed security services and open-source software to enhance cybersecurity capabilities, signaling that businesses are making cybersecurity a priority despite many not having the necessary in-house capabilities and an overall lack in talent to fill key positions. More than half (53%) of respondents employ open-source software and 62 percent of respondents say they use managed security services for cybersecurity and privacy—relying on managed security services for highly technical initiatives such as authentication, data loss prevention and identity management.

Read more: http://www.pwc.com

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