The role of cybersecurity continues to be underestimated by company managers, according to a new study published by Trend Micro. And while it is true that the study reflects how most organizations plan to increase their cybersecurity budgets in 2023, it is also true that the document concludes that there is an isolated and often contradictory view of the value that cybersecurity brings to the business.
In this sense, the study “Risk & Rewards” reveals that business managers must rethink their vision of cybersecurity and think more broadly about how it can positively influence the company since, as stated Raul Guillendirector of cybersecurity strategy at Trend Micro Iberia “cybersecurity has become a critical component both for generating new business and for attracting the best talent.”
Thus, although 71% of the managers responsible for decision-making surveyed in Spain believe that there is a strong connection between cybersecurity and business risks (compared to 64% globally) half of these believe that while it is a necessary cost, it does not contribute to improving revenue. In addition, 56% of managers in our country maintain that the value of cybersecurity is limited to the prevention of attacks/threats.
More contradictions? That despite all of the above, 81% of Spanish managers are concerned that their lack of credentials in this area could affect their ability to generate new business. So much so that three quarters of the BDM (Business Development Manager) affirm that they are already asked about the security posture in negotiations with potential customers and suppliers and 75% ensure that these requests for information are becoming more frequent.
Another of the cybersecurity challenges is linked to innovation. Thus, 73% of Spanish managers state that their organization needs to innovate faster to be more competitive. But it does not reach half (42% Spain) of those who see a close relationship between cybersecurity and innovation. And this despite the fact that 57% believe that these digital transformation projects could be further accelerated, betting on improved cybersecurity.
Finally, this study concludes that 57% of organizations consider that their cybersecurity policies create information silos and 53%, that the level of their current cyber risk is at least high. And what is worse, 12% of those surveyed indicate that they are not able to quantify their current level of risk.
