69% of firms underfunding their cybersecurity needs

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IBM this week released the results of a study examining cyber resilience in companies across the world. Their finding confirms a slew of other studies showing how unprepared companies are for potential cyberattacks on their most sensitive data and digital infrastructure.

As the report found, “nearly half of the 2800 respondents reported that their incident response plan is either informal/ad hoc or completely non-existent,” and 69 percent report funding for cyber resiliency is insufficient.

The findings continue:

“Despite this lack of formal planning, 72 percent of organizations report feeling more Cyber Resilient today than they were last year. Highly resilient organizations (61 percent) attribute their confidence to their ability to hire skilled personnel – but organizations need both technology and people to be Cyber Resilient. In fact, 60 percent of respondents consider a lack of investment in AI and machine learning as the biggest barrier to Cyber Resilience.

This confidence may be misplaced, with the analysis revealing that 57 percent of respondents said the time to resolve an incident has increased, while 65 percent reported the severity of the attacks has increased. These areas represent some of the key factors impacting overall cyber resiliency. These problems are further compounded by just 31 percent of those surveyed having an adequate Cyber Resilience budget in place and difficulty retaining and hiring IT Security professionals (77 percent).”

What’s the best way to avoid your company getting hacked? It’s by using Evizone, the strongest commercially available system for the secure exchange electronic communications.

And what if human error causes a breach – say, through a poorly chosen password? Evizone’s compliance archiving ensures that any unauthorized access can be traced and ended as soon as it is caught – reducing the harm and cost to your company. A separate IBM study found that “cost of a data breach was nearly $1 million lower on average when organizations were able to contain the breach in less than thirty days.”

Don’t wait for your company to suffer before getting serious about cybersecurity. To test out our services, visit us at https://evizone.com/free-trial/.

About Evizone Ltd.
Evizone Ltd. is a revolutionary secure communications, encryption and compliance software and service provider based in Montreal, Quebec, Canada. Evizone offers innovative enterprise solutions in secure messaging (next generation beyond encrypted e mail) and encryption, encryption at rest, regulatory compliance, compliance archiving, WORM compliance, 17a-4 compliance, document life cycle management and communications governance and risk management. Evizone’s services protect organizations through best in class security, encryption, recipient controls, document life cycle management, discovery management, compliance management, compliance archiving, tamper proof WORM and 17a-4 compliance archiving and complete audit records against the enormous damage caused by communications breaches. Evizone’s patented technologies offer a level of security impossible to obtain with conventional or encrypted email and fast, powerful, user friendly compliance archiving. Evizone’s services are immediately available on multiple platforms and provide the strongest commercially available communications security and compliance archiving. You can follow Evizone on Facebook, Twitter, and LinkedIn.

Tom Kott, HATLEY Strategy Advisors, 514.316.7082, tkott@hatleystrategies.com


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