In this video for Help Net Security, Ravi Srinivasan, CEO of Votiro, discusses ThoughtLab’s 2022 cybersecurity benchmarking study, Cybersecurity Solutions for a Riskier World.
The research revealed that the pandemic has brought cybersecurity to a critical inflection point. The number of material breaches respondents suffered rose 20.5% from 2020 to 2021, and cybersecurity budgets as a percentage of firms’ total revenue jumped 51%, from 0.53% to 0.80%.
During that time, cybersecurity became a strategic business imperative, requiring CEOs and their management teams to work together to meet the higher expectations of regulators, shareholders, and the board.