"Only 15 Percent of Companies Are Ready for Cyber Threats"

According to Cisco's first-ever Cybersecurity Readiness Index, only 15 percent of companies worldwide are at the 'Mature' level of readiness required to be resilient against today's advanced cybersecurity threats. Over half (55 percent) of companies fall into the Beginner (8 percent) or Formative (47 percent) cybersecurity readiness phases, indicating that they perform below average. Additionally, 82 percent of the 6,700 cybersecurity leaders surveyed worldwide expect a cybersecurity incident to impact their organization during the next 12 to 24 months. Sixty percent of respondents revealed they had experienced a cybersecurity incident in the last year, and 41 percent of those affected estimate the incident cost them at least $500,000. Fifty-three percent of the organizations classed as Mature are 'Very Confident' in their ability to deal with risks. In contrast, only 30 percent of organizations in the Beginner stage and 34 percent of those in the Formative stage share this sentiment. Although 86 percent of respondents plan to increase their security budgets by at least 10 percent over the next 12 months, the report emphasizes the need to establish a baseline so that organizations can build on their strengths and prioritize the areas where they require more maturity and improved resilience. This article continues to discuss key findings from Cisco's Cybersecurity Readiness Index.

BetaNews reports "Only 15 Percent of Companies Are Ready for Cyber Threats"