Cyberattacks are basically a way of life for most businesses now
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For modern businesses, cyberattacks are essentially an everyday occurrence, with an increasing number of organizations claiming to deal with such crises on an almost daily basis.
This is according to a new report from Dell of 1,000 IT decision makers from around the world, working across a wide range of public and private sectors, with the respondents saying their companies have experienced more natural and modern disasters than in previous years, indicating results in more data loss, more downtime and higher recovery costs.
Of all those disasters, cyber-attacks were the biggest, accounting for nearly half (48%) of all recorded incidents. In addition, they were up from 37% a year ago.
Fewer security vendors, more protection
Elsewhere, the 2022 Dell Global Data Protection Index (GDPI) report found that nearly nine in ten companies (86%) have experienced at least one cybersecurity-related outage in the past 12 months.
Businesses that have suffered data loss have incurred more than a million dollars ($1.06 million) in downtime costs, compared to $959,000 just a year ago. Companies that were denied access to their data (rather than losing access completely) have lost an average of about $660,000.
Previously, organizations hired multiple data protection vendors to combat the threat. Now, Dell claims in the report, the tide is turning as companies realize they are safer with fewer partners. In fact, 85% of organizations using multiple data protection vendors “now see a benefit” in reducing this number. Companies with a single supplier have had a 34% reduction in costs when recovering from a cybersecurity incident.
In addition to selecting unnecessary partners, companies are also increasingly turning to the Zero Trust architecture to stay safe. The report shows that 91% of organizations are aware of or plan to deploy a Zero Trust architecture. Yet only a quarter (23%) are implementing a Zero Trust model, while 12% are already fully implemented.
Zero Trust is a cybersecurity model that is changing the way businesses approach security. Rather than relying solely on perimeter defense, Zero Trust invokes a more proactive strategy that allows only known and authorized traffic to pass through a system of boundaries and data pipelines.