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Cybersecurity strategy 2021: Tactics, challenges and supply chain concerns

Cybersecurity risks in the enterprise show no signs of slowing down, as the sophistication, frequency and consequences of cyberattacks continue to evolve and grow. Toss in the COVID-19 pandemic and supply chain disruptions, and it’s no wonder that enterprises are shifting their cybersecurity strategies.

How successful are they? TechRepublic Premium ran a cybersecurity strategy survey to find out. It asked fifteen questions to garner a better understanding of where businesses stand on various security-related topics.

The report asked the following questions:

  • How has the COVID-19 pandemic affected your cybersecurity strategy?
  • Is your company concerned about security risks for supply chains?
  • What supply chain cybersecurity measures has your company implemented or will implement in the next 12 months?
  • Who is responsible for creating your company’s cybersecurity strategy?
  • What best describes your company’s cybersecurity strategy?
  • What elements are included in your company’s cybersecurity strategy?
  • What new tactics has your company added to its strategy in the past 12 months?
  • What are the biggest challenges your company has faced when implementing a cybersecurity strategy?
  • How confident are you in the cybersecurity measures your company is currently taking?
  • Does your company require multi-factor authentication to access sensitive data and accounts?
  • What modern technology do you fear implementing the most, because of cybersecurity threats?

Overall, the majority of respondents (83%) reported being either “very” or “somewhat” confident in their company’s current cybersecurity strategy. Further, 32% of respondents said that their company’s cybersecurity strategy is developed in real-time as needed or is a formal policy that is reviewed on a regular basis and is adjusted as needed.

However, 17% of respondents reported their companies have no strategy in place. While 19% of respondents either work in companies that might have a formal policy that is rarely reviewed, or they are unsure of their company’s strategy.

It’s not surprising that a majority of respondents (64%) indicated that their companies were concerned about security risks for supply chains. Respondents plan to counter these challenges with solutions like adding two-factor authentication or authentication codes to all software and hardware (22%), including security requirements in every RFP and contract (16%) and working with vendors onsite to address any vulnerabilities and security gaps (16%) and limiting vendor access to software (14%).

Only 3% of respondents have not implemented nor plan to implement any supply chain cybersecurity measures.

Further, COVID-19 has led to shifts in cybersecurity strategies for roughly a quarter of respondents. For example, 23% of respondents reported that due to the pandemic their company revamped or plans to revamp their cybersecurity strategy, and 22% of respondents increased or plan to increase their budget allocation for cybersecurity.

To learn more about cybersecurity strategies in the enterprise, download the TechRepublic Premium report Research: Cybersecurity strategy 2021: Tactics, challenges and supply chain concerns. This report contains all the data, plus analysis, from the survey and is free for TechRepublic Premium subscribers.

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Published:
November 4, 2021
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