91% of Indian businesses believe companies are at risk

Close to 91% of businesses in India say their organisation is at risk because of the complexity of business and its operations, which is above the APJ (Asia Pacific and Japan) average of 85% and the global average of 83%, according to a global study by Citrix and Ponemon Institute titled ‘The Need for a New IT Security Architecture’.

The report also covers global trends in IT security risks and reasons why security practices and policies need to evolve in order to deal with threats from disruptive technologies, cybercrime and compliance.

According to research firm Gartner, the IT security market in India is estimated to grow up to $1.24 billion in 2017. The government’s push towards digitisation of data and transactions in order to fuel growth has in turn made it more vulnerable to cyberspace threats and attacks.

“With an increasing number of traditional businesses taking the digital route, workspaces are no longer confined to the four walls of an office. While this shift has made the modern workforce more flexible and productive, it has also brought along its own set of security concerns. For modern enterprises, security management and protection of data is an integral business function and no longer an IT task,” said Parag Arora, Country Head and Area Vice President, Citrix, India Subcontinent.”

According to the study, 60% of respondents stated that employees and third parties bypass security policies and technologies because they are too complex.

The research features insights from over 4,200 IT and IT security practitioners in Australia / New Zealand, Brazil, Canada, China, Germany, France, India, Japan, South Korea, Mexico, Netherlands, United Arab Emirates, United Kingdom and the United States.

While 72% of businesses in India say it is time for a new security framework, less than half of respondents in India, close to 44% said that their organisations have the right policies and procedures in place to protect information assets and critical information.

Despite this, only a third, close to 34% of respondents from India believe that their organisation’s senior leadership views cybersecurity as a strategic priority, which is in line with the global average of 33%.