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KPMG: Security a revenue opportunity rather than a cost

The perception of security appears to be changing with KPMG uncovering interesting views on the subject from a number of CEOs

Security is usually seen as a block on innovation with those responsible for protecting data complaining that users are sidestepping their attempts to keep the criminals at bay.

There have been attempts to try to reverse that situation and speed up the checks and balances to make sure that users are unaware of the protection running in the background.

The latest twist in the security perception story comes from KPMG, which has quizzed CEOs and found that many feel an investment in cyber protection is a revenue opportunity.

The KPMG CEO Outlook 2017 asked 150 CEOs for their thoughts about security and found that 70% viewed it as a chance to unearth fresh revenue streams and innovate, rather than an overhead cost.

The survey also found that CEOs are also becoming more comfortable with the idea that they personally had a responsibility for 'mitigating cyber risk'.

“It’s great that business leaders are finally seeing cyber security investment as a positive figure on the balance sheet rather than a negative one. However more needs to be done to make sure their businesses are prepared in the event of a cyberattack, whether it’s from external sources or even insiders," said Paul Taylor, UK head of cyber security at KPMG.

The warning that came with the KPMG findings was the continued lack of investment in cyber security with many CEOs admitting that they were not fully prepared for business data theft or an employee-led data breach.

The combination of positive feelings about the potential of security to drive revenue and the need for further investment should be a perfect storm for those in the channel with the right skills.

“With recent high profiles attacks like Wannacry hitting the press, cyber security should be on every CEO’s radar. Businesses now need to match their investment in innovative technology with their investment into cyber security, in order to stay one step ahead of cyber criminals,” added Taylor.

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