Cyber moves up the boardroom agenda

More UK firms are adopting Managed Security Services to alleviate cyber security concerns, according to a new study conducted by the analysis and consultancy company Pierre Audoin Consultants (PAC). Cyber security threats are getting worse but companies are not seeing budgets rise in line, leading to an investment shortfall. As a global security skills shortage continues, firms are looking to external provision in order to lower costs and access the required expertise.

Seventy percent of firms think that the cyber security threat landscape is getting worse, according to the survey. In addition, 65% of respondents reported an increase in visibility of cyber security at board level, reflecting the increased importance that senior executive place on breach prevention and detection.

More than 230 people from both business and IT functions in companies with more than 1000 employees in the UK were questioned for the study. The study was supported by CGI, Fujitsu, Serco and Symantec.

Our expert Andrew Rogoyski, Head of UK Cyber Security Services says: “This survey confirms CGI’s view that companies are realising the importance of a holistic approach to cyber security which is built into their company strategy and led from their boardroom. They are also starting to develop long term partnerships via outsourcing and co-sourcing, so they can deliver improved cyber security. The survey highlights some interesting issues, such as the growing awareness of new data protection legislation, the increased sensitivity of the geographic location of data and the high proportion of companies now looking at cyber insurance to mitigate the huge costs of breaches and disruption caused by cyber-attacks”.

Download the Executive Summary version of the study free of charge.