Cybersecurity is quickly moving beyond the realm of IT and becoming an enterprise-wide, board-level concern. One indication of this is that governance-related regulatory reforms could force corporate boards to address foundational issues such as cyber expertise. As such, cybersecurity expenditures will continue to expand. Organizations spent $150 billion worldwide on cybersecurity in 2021, and the global cybersecurity market is projected to grow to $376 billion by 2029.
Yet many organizations face a growing IT tool sprawl, with complex and difficult-to-manage tech stacks that expose the enterprise to increasing risk. The talent shortage also persists, with many organizations struggling to fill key cybersecurity positions, as regulatory pressure continues to grow across industries.
To compete successfully in today's global, interconnected business environment, organizations must continuously reevaluate their product, software and service offerings, as well as their mechanisms for delivering real business value to customers, partners and suppliers. In addition, organizations must constantly reassess their overall business risk appetite and tolerance to ensure conformance with various standards, regulations, frameworks and global data protection laws.
Given the challenges of operating in today's business environment — such as competitive markets, electronically enabled global network businesses, corporate governance reform, and rigorous security and privacy mandates — risk management and governance has become a critical business imperative.
In short, cybersecurity teams are facing enormous pressure to both secure the business and align with business priorities. And it's never been more difficult. With a cybersecurity industry so complex, and bad actors innovating at break-neck speed, how should CISOs prioritize and secure their most critical assets?
Ultimately, cybersecurity should be elemental to your organization's DNA — part of all your organizational processes, a key consideration as new projects are initiated and a critical factor for selecting new business partners.
Before you focus on individual technological priorities, we recommend reexamining the fundamentals of your current state. Our Security Maturity Model was designed as a guide to help you assess your current risk and maturity posture and advance your security strategy.
In this report, we outline six key areas to invest your time and resources to build security into your organizational culture and become more resilient.
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