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Research reveals that investment in cybersecurity can accelerate Digital Transformation in Brazil

Research reveals that investment in cybersecurity can accelerate Digital Transformation in Brazil

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According to the study, if there was an increase in the perception of cybersecurity, companies pointed out that they would increase investments in customer marketing, automation of operational processes and remote work. In addition, more than half of respondents believe that investments in security can boost business.

Accelerating companies’ Digital Transformation depends on a robust cybersecurity framework that allows organizations to explore new strategies and technologies to leverage their businesses. This is one of the main conclusions of the Strategies for a Cybernetic Future Research, carried out by Deloitte, the largest professional services organization in the world, with 122 companies operating in Brazil.

If there was an increase in the perception of cybersecurity, the participating companies indicated that they would increase investments in: customer marketing (62%), automation of operational processes (59%), remote work (58%), real-time indicators (58% ), paperless (57%), public/hybrid cloud (56%), expansion of digital communication and relationship channels (54%), expansion of digital sales channels (52%), monitoring and risk prevention (49%), research and development ecosystem (43%) and integrated supply chain management (41%).

Respondents pointed out that revenue from cybersecurity investments could increase by an average of 7.5% from expanding sales channels, and 6% from customer marketing strategies and the R&D ecosystem.

More than half (56%) of survey respondents believe that investments in this area and in data privacy can boost business. Among companies that don’t believe or can’t say (44%) whether cybersecurity investments can boost their business, 90% indicated they would invest in at least one business-boosting initiative if they had greater cybersecurity.

André Gargaro, Cyber Services Leader, Deloitte, said: “Deloitte’s study makes it clear that, although they do not have a deep understanding of the potential of Cyber, there is an understanding among most companies that, in an environment of greater cybersecurity, there are opportunities to transform and boost business strategy through the adoption of new technologies. These facilitated Business Continuity in 2020, a year of profound changes. Investing in security is essential to leverage the business.”

According to the survey, just over half (53%) of organizations that have suffered cyberattacks have adopted new technologies and promoted a review of their cyber governance. After suffering the attacks, 98% of organizations adopted security changes, made investments in technologies or reassessed the continuity of innovation projects.

The main changes adopted in the area after suffering cyberattacks were the updating of the IT infrastructure (58%), creation of an awareness program (49%), greater investments in cybersecurity (47%), greater monitoring of incidents (47%) and cloud environment configuration reviews (33%).

Investments in cybersecurity and data privacy

Among survey respondents, 41% have suffered cyberattacks. Of these organizations, the vast majority (89%) made investments in cybersecurity. Among the 49% of respondents who have not suffered attacks, 69% invest in cybersecurity. A total of 10% of respondents do not know if they have ever suffered cyberattacks.

Raising organizations’ awareness of the impacts of a threat on consumer confidence, reputation and image, and Business Continuity, it is critical for organizations to strategically and proactively adopt appropriate cybersecurity practices. Of the 56% of companies that believe that investments in the area can leverage their business, the majority (84%) already invest in security. 56% believe that investing in data privacy can contribute to gains in their business, especially in terms of security and trust with customers.

In the context of the Brazilian General Data Protection Law (LGPD in Portuguese), which came into effect last year, governance and administration of access by professionals to personal and sensitive business-related data is the most adopted practice by responding companies (61%).

However, other important initiatives, such as people training (44%), risk management and information security governance (39%), vulnerability management (38%) and network monitoring (36%) are implemented for less than half of the participants.

Study methodology

The Strategies for a Cybernetic Future Research, carried out by Deloitte, had the participation of 122 companies, of which 27% earned more than R$ 1 billion in 2020. Among the respondents, 94% hold executive positions (presidency, directors or management) in their organizations. Participating companies operate in IT and telecommunications (27%), services (22%), infrastructure and construction (16%), consumer goods (14%), financial services (8%), agribusiness, food and beverage sectors (7%) and trade (6%). Responses were collected between February and March 2021.

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