IT Brief New Zealand logo
Technology news for New Zealand's largest enterprises
Story image

Organisations must pay off their post-pandemic cyber debt

By Shannon Williams
Thu 11 Mar 2021
FYI, this story is more than a year old

Organisations must pay off their post-pandemic cyber debt, says NCC Group.

Budget cuts, redundancies, delays to cyber resilience projects and increased remote working in the last 12 months could all have increased organisations' risk of a cyber attack in 2021, according to new research into cyber security decision makers from NCC.

The results show that 40% of respondents froze recruitment in cyber, 29% made redundancies and one in five furloughed staff responsible for cyber resilience programs in 2020. Three in ten experienced delays or cancellations to their cyber resilience projects and 27% reported cuts to their cyber resilience budgets. 

However, the data suggests that these measures could have negatively affected security postures: over 70% of organisations that cut budgets, made redundancies or delayed or cancelled their cyber projects reported an increase in cyber attacks.

Meanwhile, half of the decision makers reported an increase in remote working, with 66% of those that did so witnessing an increase in phishing and ransomware attacks. This operational shift also exposed concerns around the impact of people on cyber resilience: of the 39% that reported an increase in insider threats, 51% believed that an increase in remote working was the cause.

Encouragingly, two thirds of decision makers claimed that they would increase the total amount spent on cyber security this year, with making security improvements the highest priority area for investment.

Respondents also recognised the role that people play in maintaining cyber resilience, with 66% admitting that an internal skills shortage was their main challenge for the next 6-12 months. To address this shortage, two thirds of organisations plan to increase their amount of outsourced cyber resilience work in 2021.

Although the majority plan to increase cyber budgets, challenges around investment decisions remain: over 90% of respondents struggle to accurately assess or quantify the cost vs benefit of cyber security measures. Of those that claim cyber security is not a high priority, 23% said they dont have the buy-in of senior management and 19% claim investment is focused in other areas. 

"The operational challenges that organisations faced in the last 12 months have resulted in a compliance debt that must now be paid off," says Ian Thomas, managing director at NCC Group.

"While it is encouraging to see that organisations recognise that they must make up lost ground by investing in cyber, it is crucial that this investment is used in the right areas," he says. 

"By addressing internal skills shortages and validating cyber investment against recognised benchmarks, organisations can build a secure platform for growth and maintain cyber resilience in this difficult period."

Related stories
Top stories
Story image
Microsoft
Microsoft backing Māori and Pacific wāhine in tech industry
A new initiative focused on getting Māori and Pacific wāhine into the tech industry and backed by Microsoft, NZTech and the government is calling for tech companies to get involved.
Story image
Hawaiki Cable
BW Digital completes acquisition of Hawaiki Submarine Cable
BW Digital has completed its full acquisition of Hawaiki Submarine Cable, with all applicable regulatory filings and approvals now received.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
Ivanti
Ivanti and Lookout bring zero trust security to hybrid work
Ivanti and Lookout have joined forces to help organisations accelerate cloud adoption and mature their zero trust security posture in the everywhere workplace.
Story image
Power / Energy
SmartCIC report reveals top five 5G carriers in the world
The Global Cellular Performance Survey also found that 5G networks are delivering high download speeds but lagging in upload speeds.
Story image
Wireless
SmartCIC, BICS partner to expand wireless service options
SmarCIC has partnered with BICS to increase choice for organisations using fixed wireless services, expanding existing carrier relationships for its CELLSMART division.
Story image
MongoDB
Tech innovation crucial to growth, but barriers remain
Businesses in the A/NZ region believe tech innovation is crucial to drive future growth, but 76% say they’re being held back by complex data architecture.
Story image
Kodari Securities (KOSEC)
NFT trends and opportunities: expert reveals all
The NFT market is growing at an exponential rate, with unprecedented liquidity. Here we explore how businesses can profit.
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image
Story image
Employee Retention
Company values increasingly important in post-pandemic world
New research released today reveals that company values are the new currency when it comes to employee retention in a post-covid economy.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Microsoft
Microsoft unveils adaptive accessories for disability access
Microsoft is introducing an expansive Inclusive Tech Lab to give people with disabilities greater access to technology through new software features and adaptive accessories.
Story image
Digital Transformation
Physical security systems guide the hybrid workplace to new heights
Organisations are reviewing how data gathered from their physical security systems can optimise, protect and enhance their business operations in unique ways.
Story image
Oracle
Prophecy International migrates VMware environment with Oracle Cloud Solution
The Adelaide-based global provider is using the solution to eliminate the need to re-write applications, therefore allowing the company to enhance its business operations.
Story image
Microsoft
Avaya expands Microsoft partnership to deliver OneCloud on Azure
The joint technology and go to market agreement will help customers accelerate their digital transformation initiatives in the cloud.
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Remote Working
How organisations can meet employees' changing expectations
The global employment market has shifted dramatically in favour of employees, sparking the so-called great resignation, in which people are leaving unsatisfying roles in search of greener pastures.
Story image
Sustainability
Power at the edge: the role of data centers in sustainability
The Singaporean moratorium on new data center projects was recently lifted, with one of the conditions being an increased focus on power efficiency and sustainability.
Story image
Avaya
Avaya OneCloud sees 118% ARR growth for second quarter 2022
Avaya Holdings has reported $750 million annual recurring revenue (ARR) for its OneCloud offering, up 21% sequentially and 118% from the same period last year.
Story image
Ransomware
Ingram Micro Cloud adds Bitdefender solutions to marketplace
Ingram Micro Cloud has announced the expanded availability of Bitdefender solutions on the Ingram Micro Cloud Marketplace.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Artificial Intelligence
Updates from Google Workspace set to ease hybrid working troubles
Google Workspace has announced a variety of new features which will utilise Google AI capabilities to help make hybrid working situations more efficient and effective.
Story image
Sustainability
Grasping the opportunity to rethink the metrics of a sustainable data centre
A data centre traditionally has two distinct operations teams: the Facility Operations team, and the IT Operations team. Collaboration between them is the key to defining, measuring, and delivering long-term efficiency and sustainability improvements.
Story image
Malware
Use of malware, botnets and exploits expands in Q1 2022
"As zero-day attacks and other vulnerabilities among companies like Google and Microsoft come to light, threat actors are quickly adjusting their tactics."
Story image
Digital Transformation
Why enterprise records management should be part of any digital transformation strategy
Modern organisations create and rely upon an enormous volume of content, and digital records make up a significant proportion of that content.
Story image
BitTitan
Why tenant consolidation is critical to cloud success
Consolidating tenants can improve cost management, security and engagement after a flurry of reactive activity following the widespread shift to remote operations.
Story image
Power / Energy
Keysight Technologies introduces new next-gen DPT solution
Keysight Technologies has announced its new next-generation Double-Pulse Tester (DPT) with the PD1550A Advanced Dynamic Power Device Analyser.
Story image
Ransomware
Anniversaries remind us to review identity risks
World Password Day provides a timely reminder for ordinary citizens and organisations to stop and think about the risks associated with digital identities.
Story image
IT budget
$20m boost for digital technologies announced
The government is spending an extra $20m over four years on its plan to transform the digital technologies industry.
Story image
Mobility
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
SaaS
Absolute Software expands Secure Access product offering
Absolute Software is enhancing its Secure Access product portfolio, enabling minimised risk exposure and optimised user experiences in the hybrid working environment.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from IronNet
Michael Ehrlich joins us today to discuss the history of IronNet and the crucial role the company plays in the cyber defence space.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Artificial Intelligence
ForgeRock releases Autonomous Access solution powered by AI
ForgeRock has officially introduced ForgeRock Autonomous Access, a new solution that uses AI to prevent identity-based cyber attacks and fraud.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Cybersecurity
ThoughtLab reveals 10 best practices for cybersecurity in 2022
The benchmarking study reveals best practices that can reduce the probability of a material breach and the time it takes to find and respond to those that happen.
Story image
Employee Experience
Zendesk launches customer service and employee experience offering
"Zendesk is helping businesses embrace this new generation of conversational customer relationship management and turn customer service into growth.”
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Cybersecurity
CyberArk launches $30M investment fund to advance security
CyberArk has announced the launch of CyberArk Ventures, a $30 million global investment fund dedicated to advancing the next generation of security disruptors.
Story image
Collaboration
Is video technology the future of retail?
The way we hunt for and buy products has forever changed with innovative technology designed to take customers from their initial curiosity through to purchase
Story image
Cybersecurity
HackerOne launches Attack Resistance Management solution
HackerOne has launched Attack Resistance Management - a new category of security solution that targets the root causes of the attack resistance gap.