The program will aim to help partners deliver stellar services and customer experiences.
Global businesses are paying thousands each year to meet the expanding threats against email, browsers, and emerging cloud-based channels in the enterprise
Businesses pay US$1,197 per employee each year to address the fallout of successful cyber attacks, according to a new report, which means a 500-employee company spends on average US$600,000 each year for cybersecurity responses.
Threat prevention company Perception Point’s report The Rise of Cyber Threats Against Email, Browsers and Emerging Cloud-Based Channels investigates the expanding threat landscape against email, browsers, and emerging cloud-based channels.
Based on a survey conducted in conjunction with Osterman Research, the report surveyed senior security and IT stakeholders at large businesses and revealed several findings about the current threat landscape.
This includes the key takeaway that organisations pay US$1,197 per employee annually to address successful cyber incidents across email services, cloud collaboration apps or services, and web browsers. The report authors say this means that a 500-employee company spends on average US$600,000 each year. This figure excludes compliance fines, ransomware mitigation costs, and business losses from non-operational processes, say the report authors, all of which can cause costs to increase.
New cloud collaboration apps, cloud storage and productivity services have been rolled out rapidly since 2020 as organisations worldwide have embraced new work patterns, say the report authors, and threat actors have pivoted their attack toolkits to extend beyond email and the web browser to these new apps and services.
Although many of these new tools have only been around for a few years, the report finds that malicious incidents against these new cloud-based apps and services already occur at 60 per cent of the frequency with which they occur on email-based services, with some attacks, like those involving malware installed on an endpoint, occurring on cloud collaboration apps at 87 per cent of the frequency with which they occur on email-based services.
The report also highlights that a successful email-based cyber incident takes security staff an average of 86 hours to address. As a result, one security professional, with no support, can only handle 23 email incidents per year, representing a direct cost of US$6,452 per incident in time alone.
Incidents that have been detected on cloud collaboration apps or services take on average 71 hours to resolve, meaning that one professional can handle 28 incidents per year at an average cost of US$5,305 per incident. Enterprises should be consolidating their security stack for more holistic and efficient threat protection, as well as leveraging managed services to support their security teams with scalable and flexible incident response capabilities, say the report authors.
“The Perception Point-Osterman report supports cybersecurity leaders’ assessments of the expanding threat landscape trends and how they impact companies’ bottom lines,” says Yoram Salinger, CEO of Perception Point. “These findings demonstrate the urgent need for organisations to find the most accurate and efficient cybersecurity solutions which provide the necessary protection with streamlined processes and managed services, in particular with enterprises increasingly prioritising value for money in today’s challenging economic environment.
“Moreover, the rapid growth of non-email-based threats crucially underscores the need for security teams to keep up with emerging trends, especially as the modern work environment is in flux and the number of cloud-based collaboration tools that organisations rely on is only likely to expand.”
Additional findings include:
“With cloud collaboration apps and services now complementing email as a cornerstone of any enterprise’s workflow, modern cybersecurity solutions must adapt to encompass the totality of channels and threat types,” says Michael Sampson, Senior Analyst, Osterman Research. “Organisations cannot afford – financially or reputationally – to rely on outdated approaches. Our survey demonstrates the clear need for agile and holistic threat prevention solutions, and organisations which embrace these conclusions stand to set themselves apart from their competitors amidst today’s fast-evolving circumstances.”
This article first appeared in Technology Magazine on November 24, 2022, written by George Hopkin.
The program will aim to help partners deliver stellar services and customer experiences.
Costs are rising across most companies today. A new study, however, is finding that the costs of protecting against cyber events are also soaring.
Combating cyberattacks has proven to be costly, with organizations shelling out $1,197 per employee annually to deal with email service-, cloud app- or service-, and web browser-related cyber incidents, excluding expenses related to compliance fines, mitigation costs, and business losses, VentureBeat reports.
Global businesses are paying thousands each year to meet the expanding threats against email, browsers, and emerging cloud-based channels in the enterprise
Perception Point announced the publication of a report, “The Rise of Cyber Threats Against Email, Browsers and Emerging Cloud-Based Channels“, which evaluates the responses of security and IT decision-makers at large enterprises and reveals numerous significant findings about today’s enterprise threat landscape.
Perception Point, a leading provider of advanced threat prevention across digital channels, announced the publication of a new report, ‘The Rise of Cyber Threats Against Email, Browsers and Emerging Cloud-Based Channels’.