This report explores organisational resilience against digital threats based on a survey of 8,136 business and cybersecurity leaders across 30 global markets. Discover the global state of cybersecurity readiness and learn how to strengthen your organisation’s defences in today’s complex digital landscape.
The Cybersecurity Readiness Index highlights five key pillars: Identity Intelligence, Network Resilience, Machine Trustworthiness, Cloud Reinforcement, and Artificial Intelligence Fortification. These pillars assess how well organisations are prepared to address cybersecurity risks. Cisco identified 31 solutions essential for readiness. Respondents rated their progress in deploying each one and were scored accordingly.
Organisations fall into four stages of readiness: Beginner, Formative, Progressive, and Mature. Beginners are just starting, while Formative entities are charting their path. Progressive organisations build momentum, and Mature entities are fully prepared to face modern risks across the cybersecurity spectrum.
In the past year, 54% of organisations faced cybersecurity incidents. Malware, phishing, and credential stuffing were the main threats. Among these, 52% reported that incidents cost them at least US$300,000, while 12% faced losses of US$1 million or more.
74% expect further disruptions within the next 12-24 months.
Organisations are increasing their cybersecurity budgets. In the last 12-24 months, 91% boosted their spending, with 97% planning to do so in 2024. However, a severe talent shortage affects nearly 90% of companies, slowing their preparedness efforts.
The Cybersecurity Readiness Index report states that despite rising threats, many organisations feel confident. About 80% are moderately to highly confident in their ability to tackle cyber threats. However, the reality is different. Current readiness levels don’t match the evolving threat landscape.
Organisations need to act quickly. Cyber threats are becoming more sophisticated and frequent, outpacing existing protective measures. Accelerating solutions deployment is crucial to closing the gap between vulnerability and preparedness.
To tackle readiness challenges, Cisco recommends a multi-faceted approach. This includes increased investment, platform-driven solutions, and upskilling initiatives. Using generative AI and recruiting in-house talent are key strategies to enhance resilience and strengthen defences.
You can read the full report on the Cisco website.
Cyber attacks can be overwhelming. Now is the time to evaluate your business' cybersecurity readiness, considering the insights from Cisco’s report. If you have concerns, talk to our cybersecurity experts. We offer tailored solutions to meet your specific needs. Let’s work together to protect your organisation from cyber threats.
