"67 Percent of Companies Lose Business Deals Over Security Strategy Concerns"

According to new LogRhythm research, 67 percent of respondents say their company has lost a business deal due to a customer's lack of trust in their security strategy. Dimensional Research conducted the survey of 1,175 security professionals and executives from five continents, and found that 91 percent believe their company's security strategy and practices must now align with their customers' security policies and standards. Partners are also exercising a new level of due diligence, with 85 percent of respondents stating that their company must provide proof of meeting the security requirements of their partners. According to Andrew Hollister, CSO of LogRhythm, cybersecurity is now a business imperative due to the increasing complexity and severity of cyber threats that organizations face. Security incidents have the potential to significantly impact revenue, thus calling for executive leadership's attention and pushing more organizations to align on expectations internally and externally. The study also discovered that work-related stress for the security team is increasing in nearly seven out of ten companies, with 30 percent reporting a significant increase, implying that many businesses are attempting to do more with less due to budget constraints. Growing attack sophistication, increased responsibilities, and increased attack frequency are the leading causes of stress for security team members. When asked what would help relieve their stress, 42 percent said more experienced security team members, and 41 percent wanted more integrated security solutions. This article continues to discuss findings from LogRhythm's State of the Security Team 2022 Report. 

BetaNews reports "67 Percent of Companies Lose Business Deals Over Security Strategy Concerns"