Insight

Tech companies lean on cyber to go faster and gain trust

Culture and technology are both crucial to a resilient cyber strategy.

Mark Gibson

Mark Gibson

Partner, Advisory, NSL & Teams, KPMG U.S.

+1 206-913-6558

Alex Holt

Alex Holt

Global Head of Telecoms & Media, KPMG International

+1 408-367-5832

Vijay Jajoo

Vijay Jajoo

Principal, Cyber Security, KPMG US

+1 415-963-8698

 

 

Technology companies continue to provide the products and services that have powered digital transformation throughout the COVID-19 pandemic and allowed the wheels of global industry to keep turning. Yet this digital acceleration has caused an explosion in the number of potential cyber vulnerability points at technology companies. The rapid integration of new technologies has also created an avalanche of new data that must be stored and protected.

While some of these trends were already underway, the pandemic dramatically accelerated them. Technology companies were forced to react quickly like all others. In this new reality, technology company CEOs rank cyber risk as the greatest threat to their organization’s growth over the next three years, higher than even supply chain disruption, climate change, or talent risk. They also cite cyber security resiliency as their most important operational priority.

 

 

#1

Cyber security risk is the top threat to growth

Yet technology company leaders also recognize that opportunity exists. A strong cyber strategy enables a company to maximize the fullest benefits of digital transformation to quickly grow the business while knowing risks are managed. More than half (57 percent) say their cyber security strategy is integrated with their growth strategy. Sixty-one percent also view their information security as a competitive advantage and are planning high investment in a variety of technology solutions to enhance organizational safeguards.

Tech CEOs say a strong cyber strategy is critical to building stakeholder trust, and a strong cyber strategy incorporates both people and technology. Eighty-seven percent of tech CEOs believe a strong cyber security culture is just as important as technological controls. The ongoing shortage of cyber talent dictates that all employees across all functions improve their cyber proficiency.

Cyber security has expanded beyond its traditional risk management and compliance focus to become a competitive advantage that facilitates growth, enables stakeholder trust, and fosters organizational resiliency. It is no longer exclusively an IT issue—it’s a strategic priority that needs to be embedded throughout an organization’s culture, technology, and operations.

Read the report for additional insights and key considerations for technology company leaders.

 

57%


of tech company leaders say their cyber security strategy is integrated with their growth strategy


 

 

87%


of tech CEOs say believe a strong cyber security culture is just as important as technological controls