- Readiness is critical: 82% of respondents said they expect a
cybersecurity incident to disrupt their business in the next 12 to
- The cost of being unprepared can be substantial: a majority of
respondents said they had a cybersecurity incident in the last 12
months, which cost at least $500,000
for 41% of organizations affected
- Companies are taking action: 86% of respondents said their
organizations plan to increase their cybersecurity budget by at
least 10% over the next 12 months
JOSE, Calif., March 21,
2023 /PRNewswire/ -- A mere 15% of organizations
globally have the 'Mature' level of readiness needed to be
resilient against today's modern cybersecurity risks, according to
Cisco's NASDAQ: CSCO first-ever Cybersecurity Readiness
Index released today. The index has been developed against the
backdrop of a post-COVID, hybrid world, where users and data must
be secured wherever work gets done. The report highlights where
businesses are doing well and where cybersecurity readiness gaps
will widen if global business and security leaders don't take
Only 15% of organizations are 'Mature'
enough to be resilient against today's cybersecurity threats.
Organizations have moved from an operating model that was
largely static – where people operated from single devices from one
location, connecting to a static network – to a hybrid world in
which they increasingly operate from multiple devices in multiple
locations, connect to multiple networks, access applications in the
cloud and on the go, and generate an enormous amounts of data. This
presents new and unique cybersecurity challenges for companies.
Cisco Cybersecurity Readiness Index: Resilience in a Hybrid
Titled, Cisco Cybersecurity Readiness Index:
Resilience in a Hybrid World, the report measures the readiness
of companies to maintain cybersecurity resilience against
modern threats. These measures cover five core pillars that form
the baseline of required defenses: identity, devices, network,
application workloads, and data, and encompasses 19
different solutions within the pillars.
Conducted by an independent third party, the double-blind survey
asked 6,700 private sector cybersecurity leaders across 27
markets to indicate which of these solutions they had deployed
and the stage of deployment. Companies were then classified into
four stages of increasing readiness: Beginner,
Formative, Progressive and Mature.
Alongside the stark finding that only 15% of
companies are at the Mature stage, more than half (55%) of
companies globally fall into the Beginner (8%) or Formative (47%)
stages – meaning they are performing below average on cybersecurity
This readiness gap is telling, not least because 82% of
respondents said they expect a cybersecurity incident to disrupt
their business in the next 12 to 24 months. The cost of being
unprepared can be substantial, as 60% of respondents said they had
a cybersecurity incident in the last 12 months and 41% of those
affected said it cost them at least US$500,000.
"The move to a hybrid world has fundamentally changed the
landscape for companies and created even greater cybersecurity
complexity. Organizations must stop approaching defense with a
mix of point tools and instead, consider integrated platforms to
achieve security resilience while reducing complexity," said
Jeetu Patel, executive vice
president and general manager of security and collaboration at
Cisco. "Only then will businesses be able to close the
cybersecurity readiness gap."
As these companies invest in their cybersecurity readiness,
confidence in their ability to stay resilient will also improve.
Currently, of the companies that are ranked Mature, 53% said they
are 'Very Confident' in their ability to tackle the risks. On the
other hand, only 30% of companies in the Beginner stage, and 34% in
the Formative stage feel the same.
Business leaders must establish a baseline of 'readiness' across
the five security pillars to build secure and resilient
organizations. This need is especially critical given that 86% of
the respondents plan to increase their security budgets by at least
10 percent over the next 12 months. By establishing a base,
organizations can build on their strengths and prioritize the areas
where they need more maturity and improve their resilience.
Cisco (NASDAQ: CSCO) is the worldwide leader in technology that
powers the Internet. Cisco inspires new possibilities by
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Cisco and any other company.
Contact: Dan Mellinger,
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SOURCE Cisco Systems, Inc.