2023 Global Future of Cyber Survey
Building long-term value with cyber at the heart of the business
Cyber is evolving from its traditional technology-focused roots into being a crucial part of organisations’ growth strategy. The future of cyber is tightly intertwined with the future of business, as it is a way for the organisations to navigate the future and build trust in a world of doubt. Deloitte’s Global Future of Cyber Survey seeks to understand where cyber currently stands and where it is going.
New reality of cyber taking shape — from an IT problem to a business opportunity
Rapid growth of the use of digital technologies and data-based solutions has increased the scale of cyber threats and brought new challenges alongside. The effects of potential cyberattacks have also become more complex and spread more widely. This has elevated cyber as a strategic business issue. In fact, business leaders’ attitude towards cyber has shifted from cyber being ‘just an obligation or a collection of tech-focused hygiene practices’ to cyber seen as a crucial part of organisation’s growth strategy.
According to Deloitte’s 2023 Global Future of Cyber Survey cyber is evolving into a distinct functional area of the business and an integral part of the framework for delivering business outcomes. The Future of Cyber report is based on a survey of more than 1,000 C-suite executives as well as senior leaders responsible for IT, security, and risk across industries and geographies. Majority of the survey respondents identified a strong connection between cyber and business impact.
Building long-term value by putting cyber at the heart of the businessDownload report
What does it take to become cyber-mature organisation — and why it matters?
As part of the survey, Deloitte identified high-performing, cyber-mature organizations based on their level of cyber planning, engagement on cyber at the board level, and cyber activities implemented.
However, regardless of an organisation’s cyber maturity, absolute security probably never exists. Instead, truly mature organisations are distinguished by their ability to extract value from their cyber investments. However, success should not depend solely on the organisation’s ability to “buy” maturity through investments. Rather, taking actions and building a cyber culture within the organisation are key factors to improve performance. The high performing organisations are in fact better at engaging leadership, planning, and action — and it appears to generate more business value from their cyber efforts.
Focusing on these five areas can help you move forward, following in the footsteps of cyber-mature leaders:
- Multidirectional engagement
- Criticality to digital transformation initiatives
- Robust planning
- Appreciating and investing in talent
- A diverse ecosystem of tools and services