The ever-increasing incidences of cybersecurity are pushing enterprises to improve their security measures. However, most of them are investing in too many tools that could actually be counterproductive.
On Tuesday, IBM unveiled a global survey report, carried out by Ponemon Institute. The survey included responses from more than 3,400 IT and security staff across the globe. The research shows that there is a negative correlation between the investment/planning and effectiveness, with response efforts stalled by intricacy caused by fragmented toolsets.
Cyber Resilient Organization Report, which is the fifth annual IBM’s research, states that while companies are doing well in cyberattack planning, detection, and response, their capability to mitigate an active threat has decreased by 13%
Too many cybersecurity-related tools may be counterproductive
According to the report, on average, companies deploy 45 cybersecurity-related tools on their virtual networks. In the same breathe, too many tools may lead to failure to detect and defend from active threats.
Firms that deploy more than 50 cybersecurity-related tools ranked 8% lower in their capability to identify threats and 7% lower in their ability to offer a defence.
The enterprise cybersecurity scene has reached a new maturity level. However, 26% of the respondents said their firms embraced formal, enterprise-wide Cyber Security Incident Response Plans (CSIRPs), an improvement from 18% last year.
According to the IBM report, lack or poor planning and incident response testing can result in a $1.2 million damages bill. This is higher compared to what cyberattack would have otherwise cost the attacked company.
The disruptions caused can also hike the cost as only 39% of the companies with Cybersecurity Incident Response Plans applied have suffered a severely disruptive cyberattack in the last two years compared to 62% of companies which didn’t implement any plan.
With COVID-19 disrupting bureaucracies in the workplaces, there is a need to review CSIRP setups, and if necessary, change them to adapt to the working from the home scene. Unfortunately, only 7% of respondents said they review the setups quarterly, and 40% don’t set time for reviews, whatsoever.