Story image

28% of NZ firms say they'll pick up the pace on cybersecurity spending

19 Mar 18

New Zealand organisations are facing increased pressure to deliver security as part of all technology deployments, solutions, and their employees, a new Security Heatmap from IDC New Zealand says.

The Security Heatmap summarises some of the security issues facing Kiwi organisations today in areas such as their security investments, budget plans, investment intent, and their feelings about engagement with security service providers.

"The fast pace of technological disruption is necessitating a tremendous amount of work across all levels of NZ organisations to manage the accompanying security risks," comments IDC New Zealand research director Louise Francis.

"Two years ago, New Zealand organisations were focused on security at the perimeter, and end-point connections. Now there is a much greater understanding that security must be embedded within all technology deployments and solutions, right from the concept stage. There is also much greater awareness that employees can provide one of the most significant security vulnerabilities to an organisation."

Almost a quarter of New Zealand firms have experienced downtime due to human error and 19% have experienced downtime due to security breaches within the last year.

In addition, 70% of threats across the mobility landscape have their beginnings in user-related factors including uninformed and malicious users, unsecured devices and unsecured applications.

“Security and business risk concerns are now seen as the biggest barriers for organisations seeking to benefit from digital transformation; therefore, IDC expects this to remain a top area of focus for the foreseeable future," Francis comments.

IDC results show that 9% of Kiwi firms plan to reduce their security services spend in 2018; while 28% will increase their spend.

The statistics also hint at an increase in security service outsourcing. 65% of firms prefer to partly or wholly outsource their services. 37% say they plan to renew or expand their existing engagements with third party security service providers to ensure relevance over the next 12-24 months.

Trust is also extremely important to New Zealand firms when they select a managed security service provider. Statistics show that having an established relationship is the most important; followed by Global reach; comprehensive portfolio of solutions; in-country security operations centres (SOCs) and a strong local presence.

Outsourcing network and content security will continue to be the most popular elements, larger outsourcing growth will come from app security testing and Distributed Denial of Service (DDoS) attacks.

"Cybersecurity risks are business risks.  CEOs and CIOs are becoming acutely aware that they will be challenged to maintain their enterprise’s digital vision, while also addressing increasing security concerns,” Francis says.

"It is important to remember: security is never about the technology. It is an organisational mindset."

IDC New Zealand’s Security Heatmap was compiled from data collected in 2017.

Symantec releases neural network-integrated USB scanning station
Symantec Industrial Control System Protection Neural helps defend against USB-borne cyber attacks on operational technology.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.
Ramping up security with next-gen firewalls
The classic firewall lacked the ability to distinguish between different kinds of web traffic.
Spark Lab launches free cybersecurity tool for SMBs
Spark Lab has launched a new tool that it hopes will help New Zealand’s small businesses understand their cybersecurity risks.
Gartner names LogRhythm leader in SIEM solutions
Security teams increasingly need end-to-end SIEM solutions with native options for host- and network-level monitoring.
Cylance makes APIs available in endpoint detection offering
Extensive APIs enable security teams to more efficiently view, enrich, and contextualise real-time intelligence collected at the endpoint to keep systems secure.
SolarWinds adds SDN monitoring support to network management portfolio
SolarWinds announced a broad refresh to its network management portfolio, as well as key enhancements to the Orion Platform. 
JASK prepares for global rollout of their AI-powered ASOC platform
The JASK ASOC platform automates alert investigations, supposedly freeing the SOC analyst to do what machines can’t.