It seems that CEOs are finally getting the message that they will have to invest in cyber security.
Bean counters at KPMG found that many feel an investment in cyber protection is a revenue opportunity.
The KPMG CEO Outlook 2017 asked 150 CEOs for their thoughts about security and found that 70 per cent viewed it as a chance to find fresh revenue streams and innovate, rather than an overhead cost.
The survey also found that CEOs are also becoming more comfortable with the idea that they personally had a responsibility for ‘mitigating cyber risk’.
Paul Taylor, UK head of cyber security at KPMG said that it was good that business leaders are finally seeing cyber security investment as a positive figure on the balance sheet rather than a negative one.
“More needs to be done to make sure their businesses are prepared for a cyberattack, whether it’s from external sources or even insiders,” he said.
The warning that came with the KPMG findings was the continued lack of investment in cyber security with many CEOs admitting that they were not fully prepared for business data theft or an employee-led data breach.
The combination of positive feelings about the potential of security to drive revenue and the need for further investment should be a perfect storm for those in the channel with the right skills.
“With recent high profiles attacks like Wannacry hitting the press, cyber security should be on every CEO’s radar. Businesses now need to match their investment in innovative technology with their investment into cyber security, in order to stay one step ahead of cyber criminals,” added Taylor.
