Strong cybersecurity is good for a company’s business and revenues, according to a survey conducted by Sapio Research for security vendor Trend Micro. But not all businesses recognize that, the researchers said.
Over 70% of decision makers surveyed (71%) said they are being asked about cybersecurity in negotiations with prospects and suppliers, and 78% said such requests are becoming more frequent. A full 81% said a lack of cybersecurity credential could impact their ability to win new business, with 19% saying that this already has happened.
Yet only 57% feel that there is a strong or very strong link between cybersecurity and client acquisition and satisfaction.
And while 71% of respondents feel that the ability to work from anywhere is important in recruitment, and 83% said current security policies have affected remote employees’ ability to do their jobs, only 42% see a strong tie between cybersecurity and employee retention, and only 43% see a tie between cybersecurity and talent attraction.
Further evidence of contradictory thinking: Fifty-one percent of respondents found that cybersecurity is necessary but not a revenue contributor, that its value is limited to attack and threat prevention (48%) and that it is a barrier to business (38%) rather than an enabler.
Despite viewing cybersecurity as a necessity but not a business enabler, 64% of respondents plan to increase cybersecurity spending.
“If organizations want to make the most of their security investments, business leaders must reframe their view of cybersecurity – to think more broadly about how it can positively impact the enterprise. This research shows it’s clearly a critical component of winning new business and talent,” Jon Clay, Trend Micro’s vice president of threat intelligence said in a press release. “At a time when every dollar/penny counts, it’s concerning to see stereotyped views of security persist at the very top.”
The report polled 2,718 business decision makers working for companies with more than 250 employees in 26 countries.