The Cybersecurity Maturity Report 2023 provides an important insight into the strength of cybersecurity in different sectors, company sizes, and countries. Here are the key takeaways from the report:
• Larger Budgets Don’t Necessarily Mean Better Cybersecurity: Norway scored the highest on overall cybersecurity maturity level despite not having the large cybersecurity budgets of other countries.
• Tech Companies Score Average: The tech industry scored on average, which could be due to their larger attack surface and rapid growth.
• Small and Medium Organizations Score Higher Than Large Organizations: Small- and medium-sized organizations had better cybersecurity maturity scores than organizations with over 10,000 employees.
• Nearly One-Third of Companies Lack Effective Password Policies: 32% of organizations were found to have weak password policies and 23% had weak authentication mechanisms.
Organizations should invest in capabilities, rather than tools, perform comprehensive assessments, and develop an integrated approach to cybersecurity to protect against cyberattacks. Cybersecurity optimization solutions such as CYE can also help to manage organizational cyber risk and perform cyber risk quantification.