Ninety one percent of Indian businesses believe that their company is at risk because of organisational and IT complexities, higher than the APJ average of 85% and the global average of 83%. About 72% said that it’s time for a new security framework. These were some of the key findings in a global study carried out by Citrix and Ponemon Institute, ‘The Need for a New IT Security Architecture’. As per IT research firm Gartner, the IT security market in India is estimated to grow up to $1.24 billion in 2017.
“With an increasing number of traditional businesses taking the digital route, workspaces are no longer confined to the four walls of an office. While this shift has made the modern workforce more flexible and productive, it has also brought along its own set of security concerns. For modern enterprises, security management and protection of data is an integral business function and no longer an IT task”, said Parag Arora, Country Head and Area Vice President, Citrix, India Subcontinent.
The Indian Government’s push towards digitization of data and transactions in order to fuel growth has in turn made it more vulnerable to cyberspace threats and attacks. As such, recent years have seen the cyber security market grow substantially to keep up with the digitization agenda.
Less than half the respondents felt that their organisations have the right policies and procedures in place to protect information assets and critical information. Further, only a third believes that the senior leadership views cyber security as a strategic priority.
Other key findings include:
* 34 percent business leaders in India view cyber security as a strategic priority
* 60 percent Indian respondents state that employees and third parties bypass security policies and technologies because they are too complex
* 82 percent of Indians opined that silos are resulting in the lack of collaboration between IT security and lines of business
* Organizations are still not able to control employees’ devices and apps, said 80% of the respondents from the survey
* Unsuccessfully deployed software is costing organizations in Asia Pacific, 52 percent of respondents in India said their organization made investments in software that was not successfully deployed
* Unapproved applications are a looming risk for organizations in India, with only a third (35%) of respondents stating that their organization effectively reduces the inherent risk of unapproved applications
Courtesy The Economic Times