Sunday, June 4, 2023

Only 7% of Spanish companies are mature in cybersecurity silicone

Cisco presented its Cybersecurity Readiness Index report, in which 83% of consultants in Spain expect a serious incident in the next 12 to 24 months.

According to the Cisco Cybersecurity Readiness Index report, only seven out of all 100 organizations in Spain have a “mature” level of preparation to face cyber-security risks in a hybrid world.

The resilience of the hybrid world

The report examines both companies’ strengths and weaknesses when it comes to cyber security. Two-thirds of Spanish Institutes are in the beginning (8%) or formative (59%) phases, which indicates that the level of preparation is below the world average. Only 33% of companies reach the advanced (26%) and early (7%) stages.

The information is significant because 83% of those surveyed in Spain anticipate that their business will be affected by a cyber security incident in the next 12 to 24 months. The cost of not being prepared can be great: last year one in two Spanish organizations experienced a breach or attack (mainly malware, hacks and data leaks) with a financial cost of at least $100,000 for 56%.

Globally, more than half of the companies (55%) are in the beginning (8%) or formation (47%) stages, while 45% are at the advanced (30%) and early (15%) stages.). 82% of companies worldwide expect to experience a serious cyber security incident within one to two years. In addition, 60% of companies worldwide have already experienced financial losses, and for 41%, these exceed $500,000.

Five key pillars

  • Devices: the highest percentage of Spanish organizations are in the maturity stage, with 28% (31% worldwide).
  • Data: constitutes the second column with the largest companies in the age of maturity (16% in Spain and 22% globally).
  • Job application: this is the column in which Spanish institutions are least prepared, with 75% in Enterprise or Training (65% worldwide).
  • Identity: only 11% of Spanish organizations are complete at the moment (20% global average).
  • Network security: Spanish companies are also lagging behind on this front, with 65% in the beginner or formative stages (56% globally).
  • Despite the fact that the readiness gap can be a concern, CISOs are aware of the risks and want to invest in cybersecurity: 81% of Spanish organizations expect to increase their accounts by at least 10% in the next 12 months (86% globally) and 95% expect IT infrastructure upgrades in the next 24 months (93% globally).

    Ortiz concluded the virtual intervention: “”Most organizations are already pursuing resilience in financial, operational, organizational and supply chain functions. Security resilience cuts across all of them, and improving readiness must become an imperative and priority for business leaders.

    Study Basis

    The Cisco Cybersecurity Readiness Index report is based on surveys of 6,700 cybersecurity managers from 27 countries (including Spain), the study assesses the readiness of companies in five basic cybersecurity pillars -identity, devices, network, application tasks, and divides those data into four. The level of climbing preparation is based on the solutions used: Beginner, Formative, Progressive and Mature.

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