Cybersecurity a Board Room Imperative in Nearly 50 Percent of Global Enterprises

Business Leaders Integral to Shaping Cybersecurity Programs

News provided by

Sep 05, 2019, 05:57 ET

Two-thirds of enterprises are struggling to embed security in the enterprise-IT architecture
Nearly one in two enterprises face shortage of skilled personnel
Over 60 percent are grappling with fast paced change in cybersecurity technology

BENGALURU, India, Sept. 5, 2019 /PRNewswire/ -- Infosys Knowledge Institute (IKI), Infosys' global thought leadership and research arm, today unveiled market research titled, 'Assuring Digital-Trust'. The research, aimed at understanding the current cybersecurity landscape and how enterprises are gearing up to safeguard themselves from evolving cyber threats, found that almost half (48 percent) of corporate boards and 63 percent of business leaders of surveyed enterprises are actively involved in cybersecurity strategy discussions.

For this research, Infosys surveyed 867 senior executives representing 847 firms from 12 industries, with annual revenues over US$500 million across US, Europe, Australia and New Zealand (ANZ). What clearly stood out was how organizations are finding it challenging to embed security in their enterprise IT architecture, battling with a shortage of skilled workforce and are unable to keep up with technological advancements.

Key findings of the survey:

Cybersecurity takes center stage – across industries and geographies, 83 percent enterprises view cybersecurity as critical
Over two thirds of respondents have implemented a well-defined enterprise-wide strategy and roadmap
The top concerns faced by enterprises are Hackers/Hacktivists (84 percent), low awareness among employees (76 percent), insider threats (75 percent), and corporate espionage (75 percent)
Challenges in building a security aware culture combined with embedding security into design affects nearly two thirds of enterprises
To overcome security challenges, over half of the organizations are focusing on adopting integrated security solutions and are working with technology and service integrator partners. In addition, they are also following a series of 'soft' methods. These include training/certifications (61 percent), enablement sessions (54 percent) and creating security awareness among employees (51 percent)
Network segregation (65 percent), threat intelligence platform (57 percent), and advanced threat protection (55 percent) are the top implemented security solutions
Top trends that will shape the future of cybersecurity are Artificial Intelligence (41 percent); Privacy and Personal Data Protection (35 percent); Blockchain and Deception Technologies (33 percent)
Across industries, cybersecurity is consistently viewed as critical in an enterprise's digital transformation journey. Manufacturing emerged at the top (87 percent), followed by energy and utilities (85 percent), and banking, financial services and insurance (83 percent)

Vishal Salvi, Chief Information Security Officer & Head Cyber Security Practice, Infosys, said, "As enterprises continue to add new technologies to the business, it is crucial to defend themselves against a sophisticated threat environment. At Infosys, our approach is to embed cybersecurity at every stage of business, thereby minimizing risk while maximizing the visibility of the security landscape. Our relentless focus on innovation by studying newer technologies and methods, ensures we can better secure an enterprise's business. We believe a holistic approach to cybersecurity is what it takes to instill digital trust in companies, and this research offers a good understanding of the current cybersecurity landscape. The insights, if applied appropriately can accelerate the cyber defense of enterprises."

For a full copy of the report, please visit: https://www.infosys.com/assuring-digital-trust/

Methodology

Infosys conducted an independent market research study, the report of which presents a holistic view of the cybersecurity landscape. A total of 867 senior executives, representing firms from 12 industries, with annual revenues over US $500 million across the US, Europe, Australia and New Zealand (ANZ), participated in this survey. The respondents were grouped into eight industry clusters: banking, financial services and insurance; manufacturing; consumer goods and retail; high-tech; communication and telecom; healthcare and life sciences; energy and utilities; transportation and logistics.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements mentioned in this presentation concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

SOURCE Infosys