Despite the threat and constant cybersecurity attacks, only 57% of Spanish companies allocate only between 1% and 10% of their information technology budget (TI) to cybersecurity, this is what the 2024 cyber -preparation report says, prepared by HISCOX.
The figure is alarming, taking into account that 82% of companies also assign only between 1% and 10% of their income to you. As can be seen, this situation acquires special relevance if it is also considered that the cost of the most significant cyberattack for 81% of organizations approximates 100,000 euros and, which in certain extreme cases, the recovery costs have come to exceed 50 million euros.
The disparity between the level of exposure to risk and the budgetary response evidences a systemic vulnerability in the business tissue, highlighting the need to address the management of cyberships as a transverse strategic axis within corporate planning. In this sense, 46% of the companies identify the prevention of interruptions in their activities as the main priority in developing their cybersecurity strategies. For their part, other priorities include compliance with regulatory requirements (40%), cyber risk management (30%), mitigation of the impact impact (30%) and the guarantee to customers that security is a central axis of the business strategy (26%).
The impact of these numbers goes beyond the economic one, since, according to the report, 64% of organizations recognize that the fines derived from the safety gaps constitute the most negative impact on their financial health, which represents a drastic increase with respect to the 12% recorded in 2023. Now, the effects of this type of threat are not limited exclusively to economic losses, since Spanish companies are experiencing a growing impact in various areas in various areas in various areas clue.
In this sense, 46% of companies indicate that difficulties in attracting new customers are another of the main consequences of suffering cyber attacks, a figure that has also increased significantly compared to 23% last year. In turn, 41% of companies say they have experienced a loss of customers, compared to 24% registered in 2023, which underlines how attacks not only affect business operation, but also the loyalty and confidence of consumers. Similarly, the impact on corporate reputation has increased, affecting 41% of organizations, with respect to 27% observed in 2023.
