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Australian CSOs expecting more IT-security budget than they're likely to get

David Braue | July 15, 2016
Business leaders have different security priorities, less concerned about cyber attacks than IT-security executives

The Australian results were below global benchmarks, with 35 percent of global IT executives citing protection against cyber-attacks as their #1 priority and acquiring new customers, at 14 percent, given more than twice the priority that it is amongst Australian IT executives. Some 13 percent of global IT executives also prioritised ensuring regulatory compliance while 9 percent saw it as crucial to launch new products and services.

Those findings were echoed when C-suite executives and IT leaders were asked what was the single most important asset in the company that needed to be protected from cyber-attacks. IT-security leaders nominated regulated data (25 percent), customer information (20 percent), the company's reputation with customers (16 percent) and the company's applications and services (14 percent).

C-suite respondents, on the other hand, were more concerned about protecting the company's reputation with customers (25 percent), private internal communications (14 percent), strategic plans and initiatives (12 percent), regulated data (12 percent), and customer information (10 percent). "Total information security is an impractical goal," the report concludes, "so companies need to prioritise their more valuable or vulnerable assets.

Unfortunately, this study reveals that the C-suite and security leadership are not in sync on what needs to be protected the most."

Source: CSO


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