KPMG “Cyber ​​Trust Insights” study: cybersecurity at the service of business and ESG – Global Security Mag Online

KPMG “Cyber ​​Trust Insights” study: cybersecurity at the service of business and ESG

While vulnerability to cyberattacks is increasing within French medium-sized companies, KPMG’s international study “Cyber ​​Trust Insights” highlights the importance of cybersecurity for companies as a guarantee of external trust. Indeed, more than an internal security priority, it is also a lever for action to establish a relationship of trust with stakeholders and thus accelerate the development of activities. While awareness of these issues is accelerating sharply, many actions remain to be implemented.

• For 65% of respondents, information security is still about reducing risks rather than accelerating business;

• Nearly half of the panel (44%) consider that collaboration in cybersecurity helps them to anticipate many risks, in particular that of cyberattacks;

• For 32% of the panel, the RSSI (Head of Information Systems Security) team plays an active role in defining ESG policy, when it intersects with data and infrastructure security.

The need to create alliances to establish optimal cybersecurity

More than ever, cybersecurity is a source of concern within companies: 60% of respondents admit that their supply chains make them vulnerable to attacks, which does not facilitate the establishment of additional partnerships and collaborations. 36% of respondents are also concerned about their ability to comply with cybersecurity regulations when activities are entrusted to digital service providers. Also, more than a third (38%) say privacy issues are a barrier to external cybersecurity partnerships.

The need to overcome these fears and create networks of external alliances, however, is vital to ensuring optimal cybersecurity. Mentalities and procedures are also changing rapidly in this direction: 74% claim to have notified progress in this area over the past 12 months. To guard against risks, companies need allies: 44% of the panel consider that collaboration in cybersecurity helps them anticipate many risks, including attacks.

Likewise, a holistic thinking emerges, with 77% of respondents for whom increasing stakeholder trust is one of the main challenges of their cyber risk program. Thus, the need for reliable cybersecurity is gradually becoming a business issue for companies. Over the next three years, organizations plan to make a series of investments in digital tools to enable cybersecurity to become a guarantee of trust, and thus strengthen their customer relationship.

The CISO, the future pillar of management?

Despite this awareness, information security is still perceived by 65% ​​of respondents as a risk to be managed rather than as a business accelerator. Data that shows the crucial role that IT security managers (RSSI) must play, who are the only ones within organizations who can fully overcome this preconception and establish real confidence in cybersecurity and the business levers it involves. .

If its missions are central, half of the panel considers that its role is not yet as strategic as it should be. Indeed, the people surveyed are mostly convinced of its performance (the perception of its effectiveness rate varying between 77% and 80%). Similarly, among managers, 45% of C-Suite respondents see the CISO as an essential framework for the organization, with a role that is evolving very quickly and whose missions are expanding, particularly in the face of regulatory inflation.

This growing recognition of the role of the CISO goes hand in hand with the new sensitivity of managers to cybersecurity issues, as evidenced by the KPMG CEO Outlook 2022 study, according to which 77% of managers believe that information security is a strategy and a potential source of competitive advantage for their business.

Cybersecurity at the service of ESG

For 78% of the panel, artificial intelligence and machine learning bring unique cybersecurity challenges. The issues that the latter implies go beyond the notion of data security and induce increased vigilance, because of the ethical issues it raises.

This reinforces the need to establish trust in digital and implies including cybersecurity among the ESG objectives of companies. Indeed, cybersecurity goes hand in hand with responsibility issues, such as guaranteeing reliable access to information, protecting customer data, maintaining the integrity of digital services, and a broader commitment to the development of cybernetic capabilities. If, to date, less than one in five organizations describes security as an integral part of the ESG team, they are already 32% to consider that the CISO team plays an active role in the definition of the ESG policy when intersects with data and infrastructure security.

“While cybersecurity is a priority to guarantee the resilience of companies, it must now be considered as a lever of trust in which to invest in order to guarantee the quality of its customer relationship and thus promote the proper development of its activity. Much more than a business tool, trusted cybersecurity engages the responsibility of the company in many aspects (digital integrity, ethics of digital solutions, reliability of information), and supports the implementation of ESG policies” , concludes Vincent Maret, Partner, Head of Cybersecurity and Personal Data Protection at KPMG France.

Methodology :

The KPMG Cyber ​​Trust Insights 2022 survey, conducted by KPMG International between May and June 2022, is based on responses from 1,881 executives and five business leaders. Board or C-suite members make up 42% of the sample.

The entire sample is based on 31 different markets and 6 industry sectors (energy and natural resources, financial services, life sciences and pharmaceuticals, media, entertainment and technology, public sector, telecommunications).

The companies in the panel all have an annual turnover of more than 100 million US dollars, and for 7% of them it is more than 5 billion US dollars.

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KPMG “Cyber ​​Trust Insights” study: cybersecurity at the service of business and ESG – Global Security Mag Online

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