A new study from extended detection and response (XDR) specialist Trellix examines the financial impact of “siloed” cybersecurity, weak spots in cyber protection and lack of confidence among security operations teams.
9,000 Cyber Pros Surveyed
For the study, Trellix surveyed 9,000 global cybersecurity professionals, finding that 89% of respondents describe their current security model as siloed. Consequently, 73% said they are likely allocating budget to advanced solutions, including XDR, to enable an integrated security approach.
Trellix Chief Product Officer Aparna Rayasam explained the imperative behind those findings:
“This research reveals how unsustainable the situation is for cybersecurity professionals today. Instead of relying on traditional solutions that add complexity, businesses can reshape security operations with a flexible, intelligent security platform designed to consolidate security tools and quickly remediate threats.”
Protecting the Bottom Line
Trellix states that 84% of respondents estimate their organization lost up to 10% of revenue from security breaches in the last 12 months. Medium-sized businesses (with US$50-100 million revenue) lost an average of 8% in revenue, compared to 5% for large businesses, representing revenue losses of between $500 million and $1.25 billion.
Additionally, Trellix reports that only 36% of cybersecurity professionals feel “very confident” in their organization’s ability to quickly adapt to new threats. Meanwhile, 60% admit security threats evolve so rapidly, they're struggling to keep up.
On average, respondents’ organizations deal with 51 cybersecurity incidents each day, and 36% admit they cope with 50-200 incidents daily. Forty-six percent report being “inundated by a never-ending stream of cyberattacks” as one of their biggest work frustrations.
Disconnected (siloed) solutions are holding businesses back, Trellix asserts, finding six in 10 cybersecurity professionals admit their current security tools do not enable their security operations team to work with maximum efficiency. And 34% recognize they have blind spots in their protection today.
About a quarter (23%) of cybersecurity professionals have already implemented XDR in their organization, with a 42% very likely to do so in the next 18 months.
Additional technologies “very likely” to be implemented include:
- 39% - Network Detection and Response (NDR)
- 38% - Endpoint Detection and Response (EDR)
- 37% - Breach attack simulations