• Reducing network security risk is top priority for 60% of CIOs and IT directors
• 46% of IT teams cannot say if security risk is increasing or decreasing
• 45% take a month or longer to report on regulatory compliance
nCircle, the leading provider of enterprise-class vulnerability and risk management solutions, today announced the results of its annual Risk Management Trends Report based on independent research. The UK study confirms that compliance reporting and security risk management processes remain a significant challenge for UK businesses. Although reducing network security risk was again voted the most important issue by 60% of CIOs and IT directors, 46% cannot say if security risk is increasing or decreasing over time.
When asked about their ability to measure and report on network security risk, 51% say this is possible, while this still leaves a large proportion of companies which are unable to meet this requirement. 38% of financial services companies, responsible for handling consumer data, admit to being unable to measure network security effectively. 20% of these senior IT professionals don’t know if they can perform this basic level of reporting.
45% of respondents say their companies are taking longer than a month to compile information for regulatory compliance, despite this being the top priority for 25% of organisations – 37% in large organisations (3,000+ employees). This represents an improvement over last year’s timescales (60% of companies took over a month and 26% up to three months). However, nCircle’s research shows that UK companies are still falling far short of best practice. Worryingly, 30% cannot say with confidence how long it takes to compile compliance data.
Kevin Lamb, Director of EMEA Operations, said: “CIOs and IT directors that embrace the benefits of effective security risk management reporting will create better, faster and safer businesses. As well as the direct positive impact on business risk, organisations stand to benefit from reduced operational and compliance audit costs. Clearly, a company that has real-time information has more risk control and higher efficiency levels than one that is taking three months to compile data.”
When asked about the hurdles to creating effective enterprise security, 45% of CIOs and IT directors said that better end-user attitude would make the biggest impact on improving security. Kevin Lamb continued: “Often technology’s weakest link is end-user education and attitude. IT departments must take up the role of security ambassador in their organisations and find a way to talk to end-users meaningfully - metrics are a way to make security and risk management tangible and understandable for all.”
The research was completed in October 2006 by Vanson Bourne and included the responses of 1,000 UK IT directors and CIOs collected online and via telephone interviews.
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nCircle is the leading provider of enterprise-class vulnerability and risk management solutions. Global enterprises and government agencies rely on nCircle’s proactive security solutions to identify, measure, manage and reduce security risk on their worldwide networks. nCircle has won numerous industry awards for growth, innovation and technology leadership. nCircle is headquartered in San Francisco, CA, with regional offices throughout the USA and in London, Toronto and Tokyo.
Additional information about nCircle is available at www.ncircle.com
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