Cisco’s report done with the inputs of 4,700 security professionals from 25 countries revealed that 1 in every 3 have made privacy skills a core component of security.
According to the Data Privacy Benchmark Study, “Cisco found strong evidence that privacy has become an even more important priority during the pandemic. Privacy budgets have increased over the last year, organizations have more resources focused on privacy, and privacy investments going above and beyond the law are translating into real business value. Privacy legislation and external certifications are providing assurance in a business environment where it’s hard to know whom to trust. Consumers are exercising their privacy rights and demanding enforcement of existing privacy protections. The reaffirmation of privacy’s value even during the pandemic positions it as a priority for years to come. Privacy is no longer an afterthought; it is core to how we work and interact with each other. The Age of Privacy has arrived.”
Information security is becoming more important each day as we as a society become more digital. The pandemic pushed digitalisation of everyday businesses so fast that it’s not always easy for organisations to manage this change. This is where accredited third party audits and gap analysis are crucial. Please get in touch with us and request a gap analysis from our expert auditors.
Over two-thirds of organizations are realizing business benefits across a wide variety of areas, from reducing sales delays and enabling innovation, to achieving greater operational efficiency, and building loyalty and trust with their customers. And these translate into bottom-line value as the average organization estimates they are realizing benefits nearly twice their investment in privacy.
Privacy budgets have doubled over the past year at both small and large organizations, partly in response to the greater needs of the pandemic, evolving privacy legislation, and the emerging need to respond to greater data localization requirements. And external privacy certifications, like ISO 27701, have now become a critical buying factor for 90% of respondents.
The days of thinking about privacy as merely a compliance issue are over. Forged by the pandemic, privacy has become an essential priority for management, employees, and customers alike.