If your business is cyber-ready, it has higher chances of succeeding, in general. This is what Vodafone will have you believe, as it releases a new report that links cyber readiness with business outcomes.
The Cyber Ready Barometer says that 48 per cent of cyber ready businesses have reported more than five per cent annual revenue increases, and more trust from their stakeholders.
It also says that less than a quarter (24 per cent) of businesses globally can call themselves cyber ready.
Cyber readiness includes many things: operations, strategies, cyber resilience, as well as understanding of risk and employee awareness.
Healthcare, tech and financial services sectors are most cyber ready, with businesses in the UK, the US and India being most cyber ready. At the other end of the spectrum are Germany, Singapore and the Republic of Ireland.
Despite the possibility of being hampered by large management and control issues, larger organisations are still more likely to be cyber ready.
“There is clearly a common desire for both employees and employers to do the right thing, but a big discrepancy in understanding,” commented Vodafone Enterprise Cyber Security Lead Maureen Kaplan.
“This research demonstrates that businesses must create digital cyber security policies, which are compatible with their workforce, not just to tick a box. The report also highlights a link between being cyber ready and business results, understanding your employee behaviour and how to secure it across devices, locations and networks, is more important than ever in a digital world.”
The report argues there’s a ‘strong link’ between the success in cyber readiness, and ‘reaching a tipping point in overall performance’.
More than two thirds of cyber leaders claim they’re more focused on innovation than competition, and 65 per cent are more oriented towards the customers, as compared to less cyber-ready competitors. Also, 59 per cent believe they have a competitive advantage.
A full copy of the report can be downloaded here.
Image Credit: Totojang1977 / Shutterstock