Info-tech

Indian companies continue to see higher IT security budgets: PwC

| | Updated on: Dec 06, 2012

Around 75 per cent of respondents from India, as compared to 45 per cent of global peers expect an increase in information security spending, a survey report said.

Consequently, with rise in spending, project deferrals are decreasing and overall project budgets are protected. Nearly 60 per cent of respondents claim that information security linked operational and capital expenditures have not witnessed any deferrals in their organisations.

Almost 85 per cent of respondents claimed a strong alignment of their security strategy with their business objectives.

On the flip side there is a lag reported in the security strategy around new technologies including mobile devices, cloud and social media, the study -- The State of Information Security Survey -India, 2013 – done by PricewaterhouseCoopers (PwC) India said on Thursday.

While reported security incidents have increased three-fold in India, financial losses due to security breaches have decreased significantly. Yet, data aver that respondents do not measure losses completely, it said.

Technology adoption is moving faster than security implementation for new technologies. Just 46 per cent of respondents have a mobile security strategy, while strategies for the cloud (31 per cent) and social media (37 per cent) indicate lag in adoption rates.

“The smartest organisations in the country are bringing together strategy, technology and market intelligence in a way that stacks them at the top of the information security league tables,” Sivarama Krishnan, Executive Director, PwC India, said.

“This is great news for our services sector, with its strong focus on outsourcing. We are clearly working with global best practices and in some cases doing even better,” he said.

The report states that while financial services companies are striving to maintain leadership in information security practices, telecom, information communications and entertainment companies are gaining ground especially leading in information security strategies for new technologies – mobile, social media and cloud computing.

Consumer, industrial products and services too are improving their information security capabilities, it said.

While the global mood is sombre, Indian organisations continue to be optimistic about improving their overall security environment through effective strategy and activities.

Slight dilution in implementation of information security technology and policy posture is an area of concern which needs to be addressed by corporate India, it added.

The report is based on an analysis of responses from 738 respondents from 17 industries across the country. It was the fifth edition and the survey was conducted online through a structured questionnaire.

ronendrasingh.s@thehindu.co.in

Published on March 12, 2018

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