The Hindu Business Line : `Cos need to be proactive on info security'

Despite recognising the significance of information security as a driver of business improvement, companies need to do more to improve their information security posture in a globalised business environment, states Ernst & Young's Global Information Security Survey.

Among key priorities for information security, privacy and personal data protection would assume highest significance on the risk agenda at company boardrooms.

Compliance

Based on the responses of nearly 1,200 senior information security professionals in 48 countries, with 144 respondents from India, the survey states that compliance with regulations will probably continue to impact information security practices over the next 12 months. Almost 80 per cent of survey participants said that efforts and activities undertaken to achieve regulatory compliance had improved companies' information security. Hence, companies must take proactive measures with regard to security compliance into their normal operations.

Even as the growth in third party outsourcing continues to accelerate, 37 per cent Indian respondents either did not address or had informal procedures for vendor risk management issues. While 44 per cent respondents said they had formal procedures; 11 per cent had got these validated by an independent agency.

At a global level, 36 per cent respondents had formal procedures and 6 per cent had got these validated.

security spending

"The security spending of the Indian IT companies is much lower in comparison to the US, the UK and other European countries. However, along with spending on information security, Indian companies must also focus on the policies and the process related to the implementation to ensure higher returns on IT spending," said Mr Sunil Chandiramani, National Director, Risk and Business Solutions, Ernst & Young India.

As per the survey, 16 per cent of organisations require their vendors to have an independent review of their information and privacy practices against leading practices.

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