Even with this disconnect, cybersecurity spending
and hiring are on the rise
WATERLOO, ON, Nov. 15,
2023 /CNW/ -- OpenText™ (NASDAQ:
OTEX), (TSX: OTEX), today released results of its annual 2023
OpenText Cybersecurity Global Ransomware Survey. Findings show a
similarity in how small-to-medium sized businesses (SMBs) and
enterprises (more than 1,000 employees) think about ransomware
attacks, including a disconnect about who is a target and growing
concern about the use of artificial intelligence (AI) by threat
actors. While the majority of organizations don't believe they will
be attacked, they do understand the business risks as evidenced by
increased security spending and plans to expand security teams.
"The conviction 'it won't happen to me' is a risky mindset.
Cyberattacks have become increasingly common and can have serious
consequences; no business is immune to an attack,"
said Prentiss Donohue, Executive Vice President, OpenText
Cybersecurity. "While many businesses take the right defensive
steps like using access controls, deploying backup and monitoring
for threats, a layered security approach that includes education
remains the best defense against ransomware. Ongoing education of
the risks as well as the techniques used to perpetuate an attack is
essential to avoid falling victim."
Spotlight findings:
Optimism bias is still prevalent when it comes to ransomware
attacks. Almost half of SMBs and enterprises (46% each) have
experienced a ransomware attack, yet:
- 65% of SMBs don't think or aren't sure they are a
ransomware target; a slight increase from 59% in 2022.
- Surprisingly, more than half (54%) of enterprises also don't
think, or aren't sure, they are a ransomware target.
While SMBs and enterprises don't think they are targets, both
are still very concerned about ransomware attacks and the use of AI
by threat actors.
- 90% of SMBs are extremely or somewhat concerned about a
ransomware attack. This is a slight increase from the previous
year's 88%.
- Similarly, most enterprises (87%) are extremely or somewhat
concerned about a ransomware attack.
- Over half (54%) of SMBs and enterprises feel more at risk
of suffering a ransomware attack from increased AI use by threat
actors.
Businesses are still taking threats seriously with plans to
increase security budgets and expand security teams.
- More than half (57%) of SMBs plan to increase their
security budget in 2024, of these:
- 40% plan to increase budgets by 5 to 10%
- 33% plan to increase budgets by 10 to 20%.
- Similarly, 53% of enterprises plan to increase their security
budget in 2024, of these:
- 37% plan to increase budgets by 5 to 10%
- 31% plan to increase budgets by 10 to 20%.
- 44% of SMBs plan to increase the number of employees working on
cybersecurity, of these:
-
- 50% plan to increase the number of employees working on
cybersecurity by 5 to 10%.
- 43% of enterprises plan to increase the number of employees
working on cybersecurity, of these:
-
- Almost half (46%) plan to increase the number of employees
working on cybersecurity by 5 to 10%.
Survey Resources Now Available:
To learn more about
the findings of the OpenText Cybersecurity 2023 Global Ransomware
Survey, view the infographic or read the blog.
Survey Methodology
OpenText Cybersecurity polled 2,016
security, IT professionals, and business leaders from small and
medium-sized businesses (SMBs) with up to 1,000 employees, and
enterprises with more than 1,000 employees in the United States, the United Kingdom,
and Australia from September 27 to October 17, 2023.
Respondents represented a range of roles from security and
technical employees to the C-Suite, and across multiple industries
including technology, retail, education, manufacturing, healthcare
and more.
About OpenText Cybersecurity
OpenText Cybersecurity
provides comprehensive security solutions for companies and
partners of all sizes. From prevention, detection and response to
recovery, investigation and compliance, our unified/end-to-end
platform helps customers build cyber resilience via a holistic
security portfolio. Powered by actionable insights from our
real-time and contextual threat intelligence, OpenText
Cybersecurity customers benefit from high efficacy products, a
compliant experience and simplified security to help manage
business risk.
About OpenText
OpenText, The Information Company™,
enables organizations to gain insight through market leading
information management solutions, powered by OpenText Cloud
Editions. For more information about OpenText (NASDAQ: OTEX, TSX:
OTEX) visit opentext.com.
Connect with us:
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Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies, and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
Copyright © 2023 OpenText. All Rights Reserved. Trademarks owned
by OpenText. One or more patents may cover this product(s). For
more information, please visit https://www.opentext.com/patents.
Third-party products mentioned are owned by the respective
third-party and/or its affiliates.
OTEX-G
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SOURCE Open Text Corporation