ACCENTURE’S “State of Cybersecurity Resilience 2023” report reveals that organizations which closely align their cybersecurity programs with business objectives are more likely to achieve target revenue growth and market share and improve customer satisfaction. Also, on average, these cybersecurity conscious businesses are more likely to lower the cost of cybersecurity breaches.
In a statement, Palo Dal Cin, global lead of Accenture Security, said the accelerated adoption of digital technologies like generative AI — combined with complex regulations, geopolitical tensions and economic uncertainties — is testing organizations’ approach to managing cyber risks. Embedding cybersecurity into their core digital transformation efforts is one of the key differentiating traits of cyber transformers, who are better equipped to drive successful business outcomes, he added.
Four characteristics set cyber transformers apart from other companies, as follows:
– Excel at integrating cybersecurity and risk management. Cyber transformers incorporate a cyber risk-based framework into their enterprise risk management program; have their cybersecurity operations and executive leadership agree on the priority of assets and operations to be protected; and consider cybersecurity risk when evaluating overall enterprise risk.
– Leverage cybersecurity-as-a-service to enhance security operations. Cyber transformers are more likely than others to use managed services providers to administer cybersecurity operations.
– Are more committed to protecting their ecosystem. Cyber transformers are more likely than others to incorporate their ecosystem or supply chain partners into their incident response plan and to require them to meet strict cybersecurity standards.
– Rely heavily on automation. Cyber transformers are far more likely than others to depend fully on automation for their cybersecurity programs. In addition, almost all organizations that substantially automate their cybersecurity posture said that automation helps them alleviate cyber talent shortages — a key challenge for any company seeking cyber resilience.
Jacky Fox, Accenture Security lead for Europe, said that while organizations are taking steps to better align cybersecurity programs with business goals, there is still plenty of room for improvement, with more than 60 percent of respondents still falling victim to successful breaches coming from outside their organizations. He stressed that ensuring security efforts have a positive business impact requires a business-led CISO who acts as an educator and collaborator with non-security leaders.
The report highlights that embedding vital cybersecurity actions into digital transformation efforts and applying strong cybersecurity practices across the organization are nearly six times more likely to experience more effective digital transformations than those that don’t do both. Three key cybersecurity actions that organizations could take to increase the success of their digital transformations are:
– Require cybersecurity controls before all new business services and products are deployed.
– Apply cybersecurity incrementally as each digital transformation milestone is achieved.
– Appoint a cybersecurity representative as part of the core transformation team who orchestrates cybersecurity across all transformation initiatives.
Accenture’s “State of Cybersecurity Resilience 2023” report is based on a survey of 3,000 security and business executives from large organizations across Europe, North America, South America and Asia-Pacific.
Accenture Security is a leading provider of end-to-end cybersecurity services, including strategy, protection, resilience and industry-specific cyber services.