Security breaches really do expose the good, the bad and the ugly sides of IT Security within an organisation. Is the market still motivated to invest time and budget into security projects, or is it resigned to a more reactive approach in the future?
Enterprise customers are spending an average of £277,000 on IT Security in 2019 (UK Government Cyber Breaches Survey 2019). They know, probably more than most, that the source and types of threat continue to change on a daily basis and these investments are to try and keep them ahead of the attackers. On the flip-side, according to the same report, three in in ten businesses won’t spend on cyber security this year – let’s look at what’s working well and what problems we still need to fix, in order for investment to grow.
A better correlation between data and risk
In our view, customers have a better understanding of the risks involved with data breaches. That might have something to do with increased regulation such as the GDPR, which forced customers to understand the severity of losing different types of data and modelling risk; Is it a customer privacy breach or does it impact the fundamental systems required to run the business, as we saw in the Norsk Hydro breach?
To eliminate the risk of data breaches right from the outset, customers are turning to data classification solutions as a way to ensure that your valuable information is not distributed inappropriately. Vendors such as Boldon James help customers to identify the context as well as content of data- to model and understand the impact of loss, way before the breach itself.
Your customer is still the biggest gap in their own Security
We all know that Human error is one of the main causes of a breach, but a lack of continued management activity also plays a big part in why your customer might not be winning. You can’t manage what you don’t see. If executive teams continually lose sight of the risks involved, then perhaps a lack of management reporting is to blame?
In fact, according to a 2019 survey by the Enterprise Strategy Group, 39% of executives and directors want security status reports for cyber-risk associated with end-to-end business processes and 35% want better detail on the ROI of their security investments and planned purchases.” The demand seems to be there, but more could be done to bridge the gap between technical capabilities and management perception.
Once more for the channel!
The number of opportunities for the channel to engage with customers are set to grow, as customers continue to share cloud servers to reduce costs; and new technologies proliferate the market- with more to come from IoT, 5G networks and Service-driven projects in the next 12 months.
Talk to us about the projects and services that motivate your customer to a greater investment in IT Security. Book a service review on 020 8329 1000 or find more at www.marathon-ps.com