Two-thirds of enterprises struggle to adopt cybersecurity solutions: Infosys

Two-thirds of enterprises struggle to adopt cybersecurity solutions: Infosys
Photo Credit: Photo Credit: Reuters
6 Sep, 2019

About two-thirds of the enterprises struggle to embed security in their information technology (IT)  architecture, according to a new study by Bengaluru-based IT services provider Infosys.

The study found 63% of executives of surveyed enterprises were actively engaged in cybersecurity strategy discussions. 

Shortage of skilled workers and the struggle to keep pace with technological advancements were also found to be key challenges.  

The study, titled Assuring Digital-Trust, was done by the Infosys Knowledge Institute (IKI), the IT major’s research arm.

Infosys surveyed 867 senior executives representing 847 firms across the US, Europe, Australia and New Zealand.

About 83% of the enterprises surveyed said cybersecurity was critical for their functioning. Threats from hackers, low awareness of employees, insider threats and corporate espionage were listed as key concerns. 

About two-thirds of the respondents said their enterprises has laid out a well-defined enterprise-wide security roadmap.

About 51% of the enterprises surveyed said they have initiated programmes to raise cybersecurity awareness among employees while over half of the organisations have adopted integrated security solutions. 

Among the top security solutions implemented were network segregation and threat intelligence platforms.

Enterprises believe frontier technologies such as artificial intelligence, blockchain, privacy and personal data protection play a major role in shaping cybersecurity trends in the future, the study said. 

About 87% of those surveyed in the manufacturing sector viewed cybersecurity as critical to an enterprise’s digital transformation roadmap. Almost 85% of the energy utility sector and 83% of the BFSI (banking, financial services and insurance) companies surveyed held similar views.

“As enterprises continue to add new technologies to the business, it is crucial to defend themselves against a sophisticated threat environment,” said Vishal Salvi, chief information security officer and head of cybersecurity practice, Infosys.

Recent reports dealing with cybersecurity

Last month, a report by Bengaluru-based IT services firm Wipro found that the rise of technologies such as internet-of-things (IoT) and cloud devices have increased the importance given to cybersecurity initiatives. 

In July, software solutions provider Sophos found that low budgets and dated technologies are worsening cybersecurity vulnerabilities among companies. 

A joint study by business consulting firm Frost & Sullivan and cybersecurity company Forcepoint found that the digital transformation plans of 65% of the enterprises it surveyed were impeded by security concerns