As more employees are now working from home, the attack surface is more complex and widely spread, making prevention even harder to achieve. In this difficult time, we highlight the implications of the groundbreaking research The Economic Value of Prevention in the Cybersecurity Lifecycle. Conducted by the Ponemon Institute and sponsored by Deep Instinct, the report analyses the cost savings that can be taken in an efficient, zero-time prevention model. Based on responses from over 600 IT and IT security practitioners, how does your experience compare to those of the respondents’? Do you share their sentiment that effective prevention is difficult to achieve? And what do you think are the greatest barriers?
Prevention is obviously better than cure, and in this report, we show the benefits that a ‘Prevention-First’ strategy can have on an enterprise environment. Organisations no longer have to assume they will be breached and spend their budgets on remediation and containment. A prevention-first strategy is now a realistic proposition.
A highly insightful body of research titled The Economic Value of Prevention in the Cybersecurity Lifecycle. Conducted by the Ponemon Institute and sponsored by Deep Instinct, the report analyses the cost savings that can be taken in an efficient, zero-time prevention model. Results were sourced from over 600 IT and IT security practitioners in NA, who are knowledgeable about their organisations’ cybersecurity technologies and processes. The findings include the approximate cost savings should an effective preventative approach be adopted:
▪ 91% of costs can be eliminated in a nation-state attack, resulting in an average cost saving of $1,366,365
▪ 88% of costs can be eliminated in a zero-day attack, resulting in an average cost saving of $1,089,440
▪ 90% of costs can be eliminated in a ransomware attack, resulting in an average cost saving of $396,675
▪ 82% of cost can be eliminated in phishing attack, resulting in an average cost saving of $682,650
Other highlights from the report also found the following:
▪ 70% of respondents believe the ability to prevent would strengthen their security posture.
▪ 55% feel that they are best at containing attacks and this leads to the priority to focus budget on containment, rather than prevention.
▪ 67% of respondents believe the use of automation and advanced AI would improve their ability to prevent.
▪ 50% of respondents say their organizations are wasting limited budgets on investments that don’t improve their security.
The findings of the report address market misconceptions, particularly that an effective preventative approach is difficult to implement and operate. Yet it also testifies to an undercurrent belief that the ability to effectively prevent an attack would strengthen an organisation’s security posture.
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