Digital transformation is creating new vulnerabilities and businesses are struggling to balance innovation and security. This is according to a new report from technology firm Thales.
The report claims half of all corporate data is currently stored in the cloud, with 100 percent of respondents admitting to storing sensitive data in the cloud that is not encrypted.
Almost half (47 percent), meanwhile, said their businesses has already experienced a breach or failed a compliance audit.
The number of cloud-based applications and platforms at play is also posing security issues for organisations.
Security is only growing more complex as businesses employ multiple IaaS and PaaS providers and “hundreds” of SaaS applications. Four in ten (40 percent) respondents said complexity is their biggest barrier to implementing data security.
The majority (72 percent) of organisations are also worried recent breakthroughs in quantum computing could hinder their security and cryptographic efforts within the next five years.
For Frank Dickson, Cybersecurity Program Vice President at IDC, businesses need “smarter and better ways” to approach data security.
“Zero trust is a fantastic initiative to authenticate and validate the users and devices accessing applications and networks but does little to protect sensitive data should those measures fail,” he said.
“Employing robust data discovery, hardening, data loss prevention, and encryption solutions provide an appropriate foundation for data security, completing the objective of pervasive cyber-protection.”