Accenture and HfS Research release study on threats to digital business

The study found a lack of funding in security talent and training amongst respondents.

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Accenture and HfS Research release study on threats to digital business Bissell: "Our research paints a sobering picture. Security leaders believe threats are not going away, in fact they expect them to increase and hinder their ability to safeguard critical data and establish digital trust."
By  Alexander Sophoclis Pieri Published  July 17, 2016

A recently released report from Accenture and HfS Research found that insider corporate data theft and malware infections are among the most significant threats to digital business in 2016.

Aptly named The State of Cybersecurity and Digital Trust 2016, the survey included responses from over 200 enterprise security professionals active across seven industries and a number of verticals.

The majority of respondents (69%) reported having experienced an attempted or successful theft, or corruption of data by insiders during the last 12 months. Additionally, roughly 77% of such chases occurred with media and technology businesses.

The survey also found substantial gaps in security stemming from lack of talent and the presence of an effective training regimen. Of those surveyed, 31% cite lack of training and staff budgeting as their single biggest inhibitor to tackling cyber-attacks.                                                                               

Kelly Bissell, senior managing director, Accenture Security, shared: "Our research paints a sobering picture. Security leaders believe threats are not going away, in fact they expect them to increase and hinder their ability to safeguard critical data and establish digital trust.

He added: "At the same time, while organisations want to invest in advanced cyber technologies, they simply don't have enough budget to recruit or train skilled people to use that technology effectively. To better manage this security problem, businesses will need to work in tandem with the extended enterprise ecosystem - business units, partners, providers and end users - to create an environment of digital trust."

Other findings from the survey also found that while 48% of respondents were concerned of insider data theft and malware, while 42% expect an incident to occur within the next 12 to 18 months. Furthermore, 54% were not confident with the capabilities of their current employees in preventing security threats.

Fred McClimans, research vice president, Digital Trust and Cybersecurity, HfS Research, shared: "While the gaps we identified can be overcome, they do collectively underscore the need for an inherently different approach, one that includes more robust risk management measures and the development of digital trust.

"There is an important opportunity to address these gaps by rethinking how digital trust and security can be holistically woven into the enterprise fabric through the integration of automation and AI solutions as well as through business partnerships and processes."

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