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Greenlight Technologies and LTM Research Announce the Results of Their CISO Enterprise Cybersecurity Survey
59% of Respondents Report Difficulty in Receiving Funding for Security Initiatives, Leaving Companies Vulnerable
Flemington, NJ (December 6, 2016) – Greenlight Technologies, a pioneering leader in security risk analytics and regulatory compliance solutions, announced the findings of a cybersecurity survey conducted by LTM Research that targeted 2,000 CISOs responsible for the security and management of large enterprise networks at companies headquartered in the U.S. or U.K. with more than $1 billion in annual revenue. The research revealed concerns about internal and external threats, the impact a breach can have on an organization, and vulnerabilities due to underfunded security initiatives.
A key area of concern in the survey is funding for security initiatives. 59% of respondents stated that it’s difficult to receive funding for these initiatives despite ongoing security threats. In addition, 70% of respondents were concerned about undetected breaches, while 54% indicated that their company experienced a breach.
When it comes to breaches, 34% of respondents were very concerned about external threats and 25% were very concerned about internal threats. This concern is much higher among respondents who are also tasked with protecting a company’s crown jewel assets with 65% of this group being concerned about internal and external threats.
Information Security executives were also asked about the impact a breach has on an organization. Financial loss and the effect on shareholder value was the most critical issue according to 32% of the respondents. 25% indicated that damage to the company’s brand and reputation was the most significant impact while 13% cited the risk of regulatory and compliance violations.
“The results of this survey show a significant gap between the threats that large enterprises are facing and the funding that CISOs are provided for security initiatives,” said Anand Adya, CEO of Greenlight Technologies “Despite the gap in funding, 83% of respondents stated that they will focus on cyber governance in 2017. This is a critical area for enterprises because cyber governance solutions enable them to visibly chart the performance of their cybersecurity program against key performance indicators and key risk indicators as well as analyze cyberthreats, insider risks, and data breaches by line of business. This allows them to then prioritize response and remediation activities according to business impact.”
For more information on the LTM Research report and to view the survey, click here.
About Greenlight Technologies
Greenlight Technologies is the pioneering leader in security risk analytics and regulatory compliance solutions, providing an enterprise-wide approach to cyber governance, managing regulatory change, and quantifying the impact of financial and operational risk. Greenlight’s unique ability to integrate with and correlate data across multiple technology domains, coupled with powerful analytics aimed at business users, delivers enterprise visibility of risk exposure and regulatory compliance from a single platform. Global 1000 companies rely on Greenlight Technologies to efficiently enable sustainable access compliance and transaction-control monitoring across enterprise applications and business processes. For more information, visit www.greenlightcorp.com.