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BizReport : Internet : September 04, 2019

Study finds security key to keeping customers

Real or perceived, security issues are a problem for businesses, and it doesn't matter how big or small. According to a joint Forrester and BitSight report more than one-third (38%) of businesses believe they've lost business because of security issues within their business.

by Kristina Knight

Digital businesses, those that are digital only and those that are digital with a physical component, may want to take a hard look at the security of their websites. That, according to new BitSight and Forrester data which shows that most execs believe improved online security could improve their overall performance.

The measurement and analysis of existing security measures would be helpful, according to most respondents, in helping businesses determine how they could improve security in the digital space. Researchers found that 82% of C-level execs believe better security measurement could improve their business continuity and 81% believe it would improve their brand's reputation.

"Financial success, brand perception, business continuity and company reputation now all hinge on security performance," sand Tom Turner, CEO, BitSight. "But in order to effectively manage performance, you have to measure it. This report should serve as a wakeup call for security leaders and their executives and boards to take a close look at their strategies for security performance measurement and reporting - after all, their businesses are now on the line."

Other interesting findings from the BitSight and Forrester report include:

▪ 45% of respondents say their business is already using cybersecurity ratings and 49% report these are their top preferred measurement
▪ 4 in 5 using security performance measurement say these measures lack context and don't give a full picture of security performance
▪ 34% say they're providing data that 'accurately measures' their security performance to their business partners and customers

More data from BitSight can be accessed here.

Tags: BitSight, digital security, Forrester Research, internet, internet trends, website security

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