Companies that align cybersecurity with their business objectives can make significant savings on the cost of cyber attacks while increasing revenue growth and increasing market share, new research from Accenture shows. This key insight comes at a time when we are seeing a global increase in cyber attacks.
High lights from the report
The State of Cybersecurity Resilience 2023 report shows that the 'cyber transformers', referred to by Accenture, are better able to improve customer satisfaction and reduce the cost of cybersecurity incidents by an average of 26%.
"The accelerated adoption of digital technologies such as generative AI poses cybersecurity challenges to organisations. These challenges are compounded by complex legislation, geopolitical instability and economic uncertainty," stated Nicole van Det, Country Managing Director at Accenture Netherlands. "To ensure resilience in these dynamic times, it is crucial that organisations firmly integrate cybersecurity into their digital transformation efforts."
What distinguishes cyber transformers
There are four characteristics that distinguish cyber transformers from other companies:
They integrate cybersecurity and risk management.
They use cybersecurity-as-a-service to improve security
They take measures to protect their ecosystem or supply chain partners.
Automation is an important part of their cybersecurity programmes.
Improvements needed
"Although organisations are taking steps to better align cybersecurity programmes with business objectives, there is still much room for improvement. More than 60% remain victims of successful external cyber attacks," said Tim Reijnders, Security Lead at Accenture Netherlands.
The way forward
The report highlights the importance of three cybersecurity actions to increase the success rate of digital transformations. These include building in cybersecurity checks before launching new services or products, phasing in cybersecurity measures and appointing a person in charge of cybersecurity.c
