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Study: Cybersecurity is an issue of trust for the economy

August 28, 2018

Command Control Cybersecurity Index 2018 – Part 2

  • 66 percent of German companies fear losing the trust of their customers due to cybersecurity incidents
  • More than half of companies would like to use cybersecurity as a means of distinguishing themselves as a trustworthy partner
  • 82 percent of companies are planning to significantly expand their protective measures

 

Cybersecurity is a crucial factor for the German economy when it comes to customer management and customer acquisition. For example, two thirds of German companies expect a loss of customer trust in the event of cybersecurity incidents. At the same time 52 percent of companies see cybersecurity as an opportunity to increase their competitiveness through being perceived and then recommended as a trustworthy partner. Accordingly, 82 percent of security decision-makers view the expansion of their protective measures as a mandatory obligation in order to be better placed to deflect the new risks of the digital world. These are the findings of the Command Control Cybersecurity Index 2018*. A total of 300 specialists and managers with decision-making authority for digital security in Germany were surveyed on behalf of the new Cybersecurity Summit Command Control (September 20–22 in Munich) by a market research institute.

The further results of the survey make it clear that action is required when it comes to cybersecurity. Not even one in every two companies is well, or very well, protected against even traditional attacks on IT infrastructure. Even in companies operating in the critical infrastructure sector—where any impairments could therefore lead to considerable disruptions to public safety—about one in four decision-makers are dissatisfied with the current protection level against attacks on their own IT infrastructure. Furthermore, in addition to direct attacks, decision-makers also consider cybersecurity incidents in their immediate environment as a big risk for their own company. For example, 58 percent of those surveyed fear difficulties such as system failures at partners. 52 percent also expect to feel the impacts of security problems at their suppliers.

Companies are planning bigger investments in cybersecurity
Consequently about 60 percent of those surveyed are planning to significantly increase their company’s expenditure on digital security in the next few years. This applies in particular to large companies (65 percent) but also to a lesser extent to companies operating in the critical infrastructure sector (57 percent) as well as to medium-sized companies (52 percent). “This shows that industry is now increasingly conscious of the fact that cybersecurity can be much more than a cost factor and a requirement,” says Katharina Keupp, Head of Command Control at Messe München. “48 percent of companies in Germany view security as a growth lever and as a pre-requisite for taking full advantage of the opportunities presented by digitization. At Command Control we are offering decision-makers an ideal platform where they can network and learn from the leading thinkers in the sector.”

New cybersecurity summit Command Control in Munich
Command Control is a cybersecurity summit that has been newly established by Messe München for decision-makers. The event to be held for the first time from September 20-22 in Munich is targeted at managing directors, CEOs, CISOs, CIOs, CROs and all other decision-makers involved in company digitization. At Command Control they will learn how to securely manage the digital transformation of their company and how to exploit cybersecurity as a growth lever for their companies. The event is focused on customized training and networking opportunities. Participants can expect keynote speeches, workshops and panel discussions with leading thinkers from the cybersecurity sector. Speakers include the Co-founder and CEO of Kaspersky Lab, Eugene Kaspersky, Natalia Oropeza (Chief Cybersecurity Officer at Siemens), the EU parliament's rapporteur for the European legislation on cyber security, Prof. Angelika Niebler (MEP), the awareness specialist Lance Spitzner from the SANS Institute and the former CIO of the US Department of Defense, Terry Halvorsen.

Command Control Cyber Security Index 2018
A total of 300 specialists and managers in Germany who have sole or joint decision-making authority for digital security were surveyed in June 2018 by a market research institute for the Command Control Cybersecurity Index. 200 participants work for medium-sized companies with between 100-999 employees. A further 100 participants work for large corporations with 1,000 employees or more. 55 percent of all specialists and managers work in the critical infrastructure sector. The main sectors covered by the survey were the manufacturing industry, finance, trade, transport/logistics and healthcare.