More than half the respondents in a Fortinet survey reported a security breach in their IT systems last year
For most IT decision-makers in India cyber security is one of the biggest challenges. A 2016 Fortinet Global Security Survey seconds that when it says that securing the cloud and protecting against vulnerabilities in IT systems are top priority for IT decision-makers.
According to the survey, existing security infrastructure has struggled to contend with the realities of an increasingly digital world. The survey, which involved 643 IT decision-makers with 250-plus employee organisations across Asia Pacific, including India, says that more than half (59%) of these IT decision-makers in India reported a security breach last year. However, only 14% realised this within minutes of the breach occurring. The study also adds that in some sectors such as healthcare, 50% of the respondents took days, months or even years to spot breaches.
“Our independent study highlights the urgent need among enterprise-scale organisations to prioritise end-to-end cyber security protection with actionable, threat intelligence capabilities in the face of new digital business challenges,” said Patrice Perche, senior executive vice president, worldwide sales and support, Fortinet.
In terms of how and where new threat intelligence capabilities may be applied, 48% of the respondents in India said that they had their own threat research/incident response team monitoring all security activity in place, while 32% of them outsource their cyber threat intelligence to a managed security service provider.
However, many see increased security breaches as a catalyst for outsourcing cyber security functions to a managed security service provider. The survey also found that within three to five years, 43% of Indian organisations could be addressing their cyber security priorities through outsourcing.
Adding to this, Tata Communications’ Srinivasan CR says that as more and more organisations go online, they will have to address security readiness and have processes in place to deal with security incidents. “Soon, cyber criminals could harness the power of artificial intelligence, mounting quickly escalating attacks on defenceless businesses. It will be prudent for
organisations in the region to get prepared for threats by working with security service providers who can help them mitigate such risks,” he added. Srinivasan is one of the key IT decision makers at Tata Communications.
“A few years back we would spend 5-6% of the IT budget on IT security, basically on AV, IPS, firewall, etc. Now the budget is getting nearly doubled, i.e., 12-15%. Spend on
security monitoring tools; manpower and security services, training has increased,” said Sendil Kumar, vice president, IT, Shriram Value Services.