Organizations that closely align their cyber security programs to business objectives are 26 percent more likely to lower the cost of cyber security breaches and incidents according to new research from Accenture.
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. The report identifies a group of companies that are leading the way in their cyber security efforts. These companies— which Accenture calls ‘cyber transformers’ and account for 30 percent of respondents — strike a balance between excelling at cyber resilience and aligning with the business strategy to achieve better business outcomes.
Four characteristics set cyber transformers apart from other companies. They:
Excel at integrating cyber security and risk management
Cyber transformers integrate a cyber risk-based framework into their enterprise risk management program; have their cyber security operations and executive leadership agree on the priority of assets and operations to be protected; and consider cyber security risk to a great extent when evaluating overall enterprise risk (65 percent vs. 11 percent).
Leverage cybersecurity-as-a-service to enhance security operations
Cyber transformers are more likely than others to use managed services providers to administer cyber security operations (40 percent vs. 24 percent).
Are more committed to protecting their ecosystem
Cyber transformers are more likely than others to take such actions as incorporating their ecosystem or supply chain partners into their incident response plan (45 percent vs. 37 percent) and to require them to meet strict cybersecurity standards (41 percent vs. 29 percent).
Rely heavily on automation
Cyber transformers are far more likely than others to rely heavily on automation for their cyber security programs (89 percent vs. 57 percent). In addition, 96 percent of all respondents whose organizations substantially automate their cybersecurity said that automation helps them alleviate cyber talent shortages—a key challenge for any company seeking cyber resilience.