The study shows a significant disparity in cybersecurity readiness, with only 4 per cent of Indian companies considered prepared to tackle present-day threats. Globally, this figure stands at a mere 3 percent of organisations reaching a mature stage of readiness
Only 4 per cent of organisations in India possess the necessary level of preparedness to effectively combat modern cybersecurity threats, a recent study by Cisco reveals. With techniques like phishing, ransomware, supply chain attacks, and social engineering on the rise, companies are finding it challenging to defend themselves, often hindered by overly complex security measures dominated by multiple-point solutions.
Complicating matters further is the shift towards distributed work environments, where data is dispersed across various services, devices, applications, and users. Despite these complexities, a staggering 88 per cent of companies express moderate to high confidence in their ability to fend off cyberattacks with their existing infrastructure. This confidence, however, appears to be at odds with the actual readiness levels, hinting at a potential gap in understanding the true scope of cybersecurity challenges.
According to Samir Kumar Mishra, Director of Security Business at Cisco India & SAARC, organisations must increase both investment in cybersecurity and adopt integrated platform approaches to safeguard against evolving threats. “In an era witnessing unprecedented proliferation of devices and rising AI-powered cyberattacks, it’s critical that organizations not only increase their investment in cybersecurity but also embrace an integrated platform approach to protect the five key pillars and take steps to reduce their security readiness gap. They must also ensure that AI is integrated into frontline defenses as part of their overall cybersecurity strategy to fortify their defenses against evolving threats, futureproof their operations, and strengthen security resilience in a digital-first world.”
The study shows a significant disparity in cybersecurity readiness, with only 4 per cent of Indian companies considered prepared to tackle present-day threats. Globally, this figure stands at a mere 3 percent of organisations reaching a mature stage of readiness.
Alarmingly, 82 percent of respondents anticipate a cybersecurity incident disrupting their business within the next 12 to 24 months. The financial toll of being ill-prepared is substantial, with 74 percent of respondents reporting a cybersecurity incident in the past year, costing at least $300,000 for 55 per cent of those affected.
Moreover, 92 per cent of companies admit to employees accessing company platforms from unmanaged devices, with 48 per cent of those individuals spending a fifth of their time logged onto company networks from such devices.
These findings highlight the urgent need for organisations to reassess their cybersecurity strategies and invest in comprehensive measures to mitigate risks effectively.
