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January 24, 2013

Over 40% of enterprises see IT security investment as essential business practice

Organisations report that investment in IT and systems security can deliver ROI.

By Tineka Smith

security

Research by Turnkey consulting revealed that organisations investing in security are increasingly seeing a positive ROI.

38% of enterprises view IT security investment as an ‘insurance policy’ to protect company assets and 72% say they rank security as one of the top three factors when implementing an important IT project.

Organisations are also placing security responsibilities to employees outside the IT department. Almost two thirds (64%) of businesses said security is the responsibility of everyone, not just those who work in IT.

Turnkey research also revealed that over 30% of enterprises had experienced fraud incidents in the past year and 34% did not even know.

According to Turnkey, 36% of businesses that had experienced a fraud incident said it was carried out internally.

Another 16% said they had experience data loss in the past 12 months which directly affected their business operations.

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"Organisations are recognising that, rather than being an essential but unwanted overhead, investing in IT security can have a positive impact on business operations and ROI," says Richard Hunt, managing director of Turnkey Consulting. "As a result it is being given a place on the boardroom agenda, rather than being regarded as the sole domain of the IT department. Closely related to this trend is the increased awareness we are seeing amongst organisations about the risk they face and the implications this raises."

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