Broker Check

The State of Cyber Resilience, and How to Improve It

April 21, 2020
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The results of Accenture's annual State of Cyber Resilience Survey have been posted on Cyber Security Intelligence. 4,644 executives of companies with revenues of over $1 billion from 16 countries worldwide responded. Some of the findings:

  • Compared to last year, cyber attacks were down 11% and security breaches dropped 27%.
  • Almost 11% of an average company's IT budget is spent on cyber security.
  • 84% of companies spend more than 20% of their cyber security budgets on artificial intelligence and machine learning, up from 67% three years ago. 
  • Companies experience an average of 22 security incidents annually.

There is  a gap between the best and worst performers in threat detection, adverse impact and downtime. The differences are expressed in four ways:

  1. Metrics - top companies value speed of detection, response and recovery. Less efficient companies are more concerned with outcomes.
  2. Speed of recovery - 83 % of leading companies experience little or no impact from security incidents.
  3. Reduced impacts - 55% of top companies experience impacts of cyber attacks lasting more than a day; 93% of less advanced companies have long lasting impacts. These companies also have a higher percentage of regulatory violations and fines.
  4. Collaboration - top companies work with law enforcement, government and cybersecurity professionals.

Concentration on speed, value and maintenance leads to better results.