ONLY 12% of organizations in Indonesia have the mature level of readiness required to be resilient to modern cyber security risks. This is according to Cisco’s Cybersecurity Readiness Index 2024.
The Cybersecurity Readiness Index 2024 was developed in an era characterized by hyperconnectivity and a rapidly evolving threat landscape. Today, companies continue to be targeted with a variety of techniques including phishing attacks, ransomware, supply chain attacks, and social engineering. Despite building defenses once morest these attacks, they still have difficulty protecting themselves from them because they are hampered by their security posture being too complex and dominated by multiple point solutions.
These challenges are increasingly complex in a distributed work environment. Today Data can be spread across an unlimited number of services, devices, applications and users. However, 93% of companies still feel somewhat or very confident in their ability to defend once morest cyberattacks with the infrastructure they currently have. This gap between confidence and preparedness suggests that companies may have misplaced confidence in their ability to deal with the threat landscape and may not be appropriately evaluating the true extent of the challenges they face.
This index assesses a company’s readiness based on five main pillars, namely identity intelligence, network resilience, machine trustworthiness, cloud reinforcement and AI fortification, which consists of 31 appropriate solutions and capabilities. The index is based on a double-blind survey of more than 8,000 security and private sector business leaders in 30 global markets conducted by an independent third party. Respondents were asked to indicate the solutions and capabilities they had implemented and the stages of implementation. Companies are then classified into four stages of increasing readiness, namely beginner, formative, progressive and mature.
“We should never underestimate the threat posed by overconfidence,” said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco. “Organizations today need to prioritize investing in integrated platforms and adopting artificial intelligence (AI) to operate at machine scale and ultimately turn the tide in favor of defenders.”
Findings
Overall, the research found that only 12% of companies in Indonesia are ready to face current threats with more than half (53%) of organizations in the beginner or formative stages of readiness. Globally, only 3% of companies are at the mature stage.
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Approximately 96% of respondents said they expect a business-disrupting cybersecurity incident to occur in the next 12 to 24 months. The costs of being unprepared can be substantial, as 63% of respondents said they experienced a cybersecurity incident in the last 12 months and 66% of those affected said the incident cost at least US$300,000 (around IDR 4.7 billion).
The traditional approach of adopting multiple point cybersecurity solutions is not producing effective results, as 91% of respondents admitted that having multiple point solutions slows down their team’s ability to detect, respond to, and recover from incidents. This raises major concerns as 76% of organizations say they have implemented ten or more point solutions in their security stack, while 33% say they have 30 or more point solutions.
About 93% of companies say their employees access company platforms from unmanaged devices and 47% of them spend one-fifth (20%) of their time connecting to the company network from unmanaged devices. Additionally, 38% report that their employees move between at least six networks a week.
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Progress is increasingly hampered by a critical talent shortage, with 97% of companies highlighting this issue. In fact, 59% of companies said they had more than 10 unfilled cybersecurity positions within their organizations at the time of the survey.
Companies are recognizing the challenges and stepping up their defenses with 84% planning to make significant upgrades to their IT infrastructure in the next 12 to 24 months. This is a significant increase compared to only 41% who planned to do so last year, with organizations primarily planning to improve existing solutions (85%), implement new solutions (49%), and invest in AI-based technologies (74%). Additionally, all surveyed companies in Indonesia plan to increase their cybersecurity budgets in the next 12 months and 95% of respondents said their budgets will increase by 10% or more.
To address the challenges of today’s threat landscape, companies must accelerate significant investments in security, including adopting innovative security measures and security platform approaches, strengthening the resilience of their networks, implementing meaningful use of generative artificial intelligence, and increasing hiring to address skills shortages cyber security. “Today’s threat landscape is more complex than ever. Organizations around the world, including Indonesia, continue to lag in their cyber resilience. Enterprises need to adopt a platform approach that will provide a simple, secure, and centralized view of their entire architecture to strengthen their security posture and take best advantage of the opportunities offered by emerging technologies,” said Marina Kacaribu, Managing Director, Cisco Indonesia. (RO/Z-2)
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