Many decision-makers in companies do not recognize the connection between cybersecurity and effective data use - although they know that effective IT security can accelerate digitization.
Trend Micro's survey of business decision-makers shows that 50 percent of respondents in Germany (61 percent globally) believe there is an urgent need to diversify their earnings in 2023; and against an uncertain macroeconomic and geopolitical backdrop.
Data analytics and similar tools can increase business agility by helping companies anticipate market trends, make financial projections, and more. Another 64 percent (68 percent globally) say that access to data will be fundamental to unlocking such new revenue streams, while the vast majority (94 percent in Germany, 91 percent globally) expect that better use of data will help some cost savings can be achieved.
Few know the link between cybersecurity and new revenue streams
However, almost half (46 percent) of decision-makers in German companies (38 percent worldwide) do not seem to see the connection between cyber security and insights from the data situation. An even higher proportion of respondents also do not recognize the connection between IT security and the development of new sources of income (57 percent in Germany, 48 percent worldwide) and cost reductions (59 percent in Germany, 55 percent worldwide).
Worryingly, more than half of respondents (58 percent in Germany, 56 percent globally) say their organization's current security policies and processes are creating information silos. This can actively undermine projects to improve data usage and underscores the need for more connected, platform-based security approaches. Although some business leaders are not convinced, 40 percent of German respondents (46 percent globally) believe that better IT security can increase the pace of corporate digitization.
Improved cyber security
However, the study by the Japanese security provider also shows that the security situation is getting better and better. More than three-quarters of German IT decision-makers surveyed (76 percent, 72 percent globally) say their organization tracks and reports on cyber risk levels, with just over a quarter (26 percent) of respondents in Germany (33 percent globally). ) communicates this to the board in the form of a business risk assessment. A further 79 percent of those surveyed stated that their company had a so-called Cyber Improvement Program in place to achieve the goals of digital transformation.
Recognize the importance of IT security and growth
“Data-driven insights are an increasingly important foundation for the sustainable growth that corporate boards are demanding today. But if that data isn't properly secured, such initiatives will be shaky,” said Richard Werner, business consultant at Trend Micro. “Increasingly, corporate boards are recognizing the importance of IT security to their growth plans. As a result, the function of the CISO is increasingly integrated into the value chain. This positive trend will improve defense capabilities and allow companies to launch new business ideas in the digital space.”
About the Study
Survey by Sapio Research on behalf of Trend Micro in January 2023 among 2718 decision-makers in companies with more than 250 employees in 25 countries, 101 of them in Germany.
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About Trend Micro As one of the world's leading providers of IT security, Trend Micro helps create a secure world for digital data exchange. With over 30 years of security expertise, global threat research, and constant innovation, Trend Micro offers protection for businesses, government agencies, and consumers. Thanks to our XGen™ security strategy, our solutions benefit from a cross-generational combination of defense techniques optimized for leading-edge environments. Networked threat information enables better and faster protection. Optimized for cloud workloads, endpoints, email, the IIoT and networks, our connected solutions provide centralized visibility across the entire enterprise for faster threat detection and response.