A groundbreaking report released by Cisco, titled “Cisco Cybersecurity Readiness Index: Resilience in a Hybrid World,” unveils that a mere 14% of organisations in New Zealand have achieved the “Mature” level of readiness required to combat modern cybersecurity risks.
The index, developed in response to the evolving post-COVID hybrid work environment, emphasizes the need for securing users and data wherever work takes place. It highlights the areas where businesses excel and warns of widening cybersecurity readiness gaps unless immediate action is taken by global business and security leaders.
The report sheds light on the challenges faced by organisations as they transition from a largely static operating model, where individuals worked from a single location using a single device to connect to a static network.
In the current hybrid world, employees operate from multiple devices and locations, connect to various networks, access cloud-based applications on the go, and generate massive amounts of data. These changes introduce new and unique cybersecurity vulnerabilities for companies.
The independent third-party survey, conducted among 6,700 private sector cybersecurity leaders across 27 markets, measured companies’ readiness to maintain cybersecurity resilience against modern threats.
The survey categorized companies into four stages of increasing readiness: Beginner, Formative, Progressive, and Mature. The readiness levels were determined based on the deployment and stage of deployment of 19 different solutions across five core pillars: identity, devices, network, application workloads, and data.
The findings reveal a significant readiness gap, with only 14% of New Zealand companies classified as Mature. Approximately 69% of organisations fall into the Beginner (13%) or Formative (56%) stages, indicating below-average cybersecurity readiness. Globally, the percentage of Mature companies stands at 15%.
The report underlines the urgency for action as 88% of respondents anticipate a cybersecurity incident that could disrupt their business within the next 12 to 24 months.
The consequences of being unprepared can be substantial, with 69% of respondents reporting a cybersecurity incident in the past year. Among those affected, 53% stated that the incident cost them at least $800,000 NZD.
Corien Vermaak, Head of Cybersecurity for Cisco Australia & New Zealand, commented on the findings, stating, “It is evident that there are things we can do better in cybersecurity as New Zealand organisations can do more when it comes to their cybersecurity hygiene. While the report shows the shortfalls, it also highlights the areas in which we are progressing relative to maturity, with less organisations in the ‘beginner’ space, and more organisations in the ‘progressive’ stage – it highlights our industry is maturing in the right direction.”
With 81% of respondents planning to increase their security budgets by at least 10% over the next 12 months, business leaders are urged to establish a baseline of readiness across the five security pillars.
This approach allows organisations to build on their strengths, prioritize areas that require maturity, and enhance their resilience.
Key Findings of the Index:
- Identity: Only 14% of organisations have achieved a Mature ranking.
- Devices: This pillar demonstrates the highest percentage of Mature companies, with 25% in the Mature stage.
- Network Security: Most organisations, 66%, are in the Beginner or Formative stages in terms of network security readiness.
- Application Workloads: This pillar shows the least preparedness, with 73% of organisations categorized as Beginner or Formative.
- Data: Like network security, 69% of organisations are in the Beginner or Formative stages regarding data protection.
- As organisations in New Zealand face the challenges of cybersecurity readiness in a hybrid world, collaboration between the public and private sectors becomes crucial. Comprehensive education, addressing the cybersecurity skills gap, and fostering sustainable improvements in cybersecurity maturity is vital for the industry’s growth.
