IT security drives business growth

November 2016 Editor's Choice, Access Control & Identity Management, Information Security

Some 54 percent of South African organisations polled in a new global study, The Security Imperative: Driving Business Growth in the App Economy, commissioned by CA Technologies, report improved customer retention owing to their IT security practices. The research, conducted by Coleman Parkes among 1770 senior executives, including more than 100 CSOs and CISOs, reveals that South African organisations specifically record a 32 percent increase in customer satisfaction, a 30 percent increase in revenue from new business through improved IT security, and a 33 percent increase in operational efficiency.

In the app economy, security needs to do more than just protect the business; it also needs to help build the trusted relationships critical for competing and growing the business. The majority of South African survey respondents endorsed this expanded view of security:

• 71 percent said identity-centric security is critical to the business.

• 73 percent said they need to balance strong security with enabling the business to get into new markets.

• 72 percent of respondents said that security is critical to protecting the brand and can be viewed as a competitive differentiator.

• 75 percent said that security needs to be frictionless and not over burden the user.

• More than 60 percent of respondents are using metrics such as customer experience, satisfaction and retention; business growth; and digital reach to measure the impact of security on the business.

“This data shows that identity-centric security is the killer app for digital transformation,” says Michael Horn, security business unit manager, CA Southern Africa. “In the application economy, customers want failsafe security and a frictionless experience. Identity-centric security applies consistent security measures across channels, allowing organisations to improve how they protect and support business operations while driving customer confidence and business growth.”

Identity-centric security helps ensure an organisation’s security practices do not infringe on the overall user experience. It requires organisations to implement more adaptive identity and access management (IAM) controls and to take a more proactive and predictive approach to preventing and detecting data breaches.

South African organisations also experience improvements in other areas of the business through improved security:

• 77 percent confirm that their security practices help them attract and retain talent – the third highest EMEA score after the UK and France.

• 69 percent have increased digital reach.

• 62 percent have improved the customer experience.

• South African organisations report a 33 percent increase in employee productivity.

Data breaches remain a concern

According to the study, 39 percent of South African organisations reported an increase in IT security breaches over the last 12 months, while nine percent saw a decrease. Proactive and predictive processes can greatly enhance an organisation’s ability to detect and prevent data breaches. However, only six percent of respondents can anticipate breach risk before it occurs and just six percent use controls that are adaptive based on risk.

Advanced use of identity-centric security pays off

The study also examined EMEA organisations’ current security postures in three areas of identity-centric security: the end-user experience, identity and access management and data breaches. This information allowed CA Technologies and Coleman Parkes to create a maturity model for identity-centric security, categorising respondents as advanced, basic, or limited.

Overall, the EMEA results categorised the majority of respondents as basic users of identity-centric security (68 percent), with a focus on core capabilities such as password management, single sign-on and some analysis and reporting. Nineteen percent were categorised as advanced users, engaging in capabilities such as adaptive security and behaviour analytics, and consistent omni-channel security support. The analysis showed that advanced users in EMEA report significant improvements over basic users in areas of customer experience, business operations, and security:

• Advanced users saw a 34 percent improvement in business growth and new revenue compared to 29 percent for basic users.

• 93 percent of advanced users reported increased customer retention compared to 75 percent of basic users.

• 89 percent of advanced users experienced improvement in customer experience versus 66 percent of basic users.

• In terms of security, 34 percent of advanced users of identity-centric security have seen a reduction in data breaches compared to 24 percent of basic users.

Effective identity-centric security: a roadmap

The study closes with seven critical actions South African organisations need to take to adopt an identity-centric approach to security, and ensure the strategy improves performance and drives growth. Organisations should:

• Make identity the perimeter of the organisation.

• Treat security as a business enabler.

• Focus on creating trusted digital relationships.

• Protect experiences, not just data.

• Take an adaptive approach to IAM.

• Be proactive and predictive.

• Never compromise security for speed.

Download the report and infographic:

• The Security Imperative: Driving Business Growth in the App Economy.

• The Security Imperative Infographic.





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Choicejacking bypasses smartphone charging security
News & Events Information Security
Choicejacking is a new cyberthreat that bypasses smartphone charging security defences to confirm, without the victim’s input or consent, that the victim wishes to connect in data-transfer mode.

Read more...
SMARTpod talks to Sophos and Phishield
SMART Security Solutions Technews Publishing Sophos Videos Information Security News & Events
SMARTpod recently spoke with Pieter Nel, Sales Director for SADC at Sophos, and Sarel Lamprecht, MD at Phishield, about ransomware and their new cyber insurance partnership.

Read more...
Cybersecurity and insurance partnership for sub-Saharan Africa
Sophos News & Events Information Security Security Services & Risk Management
Sophos and Phishield Announce first-of-its-kind cybersecurity and insurance partnership for sub-Saharan Africa. The SMARTpod podcast, discussing the deal and the state of ransomware in South Africa and globally, is now also available.

Read more...
Nice unveils MyNice Smartgo
News & Events Access Control & Identity Management
Nice SA has announced the release of MyNice Smartgo, a compact access automation solution, designed specifically for the South African market, combining an easy-to-install device with a user-friendly smartphone application.friendly smartphone application.

Read more...
Corporate and academic teams can register for Kaspersky contest
Kaspersky News & Events Information Security
Kaspersky has announced the registration opening for its new Kaspersky{CTF} (Capture the Flag) competition, inviting academic and corporate teams from around the globe to compete in a battle of skill, strategy and innovation.

Read more...
Continuous security optimisation.
News & Events Information Security
Cymulate has announced its partnership with SentinelOne, a threat exposure validation and AI-powered cybersecurity platform. The collaboration delivers self-healing endpoint security that empowers businesses to increase protection for every endpoint on their network.

Read more...
Protect your smart home devices
Kaspersky IoT & Automation Information Security Smart Home Automation
Voice assistants, kitchen robots, smart lights and many other intelligent devices have become part of our everyday life. However, with the rise of smart technology comes the need for robust protection against potential vulnerabilities.

Read more...
ISPA’s take-down process protects from local scams
News & Events Information Security
During the recent school holidays, parents could rest a little easier knowing that ISPA, SA’s official internet industry representative body, is removing an average of three to four problematic websites from the local internet every week.

Read more...
Biometric security key for phishing-resistant MFA
Products & Solutions Access Control & Identity Management
New FIDO-compliant USB, Bluetooth, and NFC BioKeys with biometric login and centralised management for phishing-resistant, passwordless multifactor authentication (MFA) for enterprise users.

Read more...
SA’s strained, loadshedding-prone grid faces cyberthreats
Power Management Information Security
South Africa’s energy sector, already battered by decades of underinvestment and loadshedding, faces another escalating crisis; a wave of cyberthreats that could turn disruptions into catastrophic failures. Attacks are already happening internationally.

Read more...










While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd. | All Rights Reserved.