Twenty-three percent of executives at technology companies say their firms have suffered a security breach in the past 12 months, according to the national annual Technology Industry Business Outlook survey conducted by KPMG LLP, the audit, tax and advisory firm. Three-fourths of executives surveyed say their companies will spend between 1 percent and 5 percent of annual revenue on IT security in the next 12 months. “The survey findings on security are an important marker, since tech companies are the pacesetters in IT security. How much and where tech companies spend on IT security, and how successful they are, can serve as guides for all other industries,” Gary Matuszak, global chairman of KPMG’s technology, media and telecommunications practice, said in a release.
The KPMG survey was of upper managers at 111 U.S.-based technology companies. Of the respondents, 54 percent were in companies with revenue of more than $1 billion a year, with the rest at companies with annual revenue between $100 million and $1 billion. When the executives asked what the largest drivers of cost would be in the next two years they stated it will be mobile (27%). I have been reading the headlines and like most involved in the industry and especially after the recent OPM hack, am worried about the current level of IT security. Nonetheless, seeing these statistics are alarming to see on paper.
Admittedly, most of my experience generates from the physical side of security. I’d like to know from experts truly of the inside of this aspect of our industry what is being done to combat this problem, if any. The question many seem to be asking is: How can we keep our information safe in this day and age?