Mid-Market Organizations Struggle with Cybersecurity Implementations

London, 24th January 2024 – Advania, a leading cloud services provider, recently published its ‘Engage the core; mid-market tech challenges report’ which reveals the significant challenges faced by mid-market organizations in Northern EMEA in the areas of cybersecurity, cost, and complexity. The report brings attention to the fact that despite the growing cybersecurity awareness, many mid-market businesses struggle to effectively implement security practices, leaving them vulnerable to attacks.

Conducted by independent research firm Censuswide, the survey included 966 mid-market IT Decision Makers from the UK, Sweden, Denmark, Finland, Norway, and Iceland. The findings indicate a concerning trend where businesses prioritize training but fall short on implementing basic security measures. This lack of security readiness contributes to significant disruption and damage when attacks occur, particularly in the NEMEA region.

One prominent issue is the disparity between developed cybersecurity strategies and the neglect of basic practices. While nearly half of the mid-market organizations develop cybersecurity strategies internally and offer regular cybersecurity awareness training, over half admit to neglecting firewalls, antivirus protection, and regular patching.

Another key challenge highlighted in the report is the high turnover rate of IT staff, undermining internal knowledge and hindering management accountability for cybersecurity. Interestingly, only 2% of organizations reported retaining “excellent” IT staff for more than two years, with 28% experiencing top talent turnover within six months.

The report also uncovers a misplaced assumption among mid-market businesses regarding cloud providers’ responsibilities. A concerning 43% of respondents expect cloud providers to cover data recovery costs, and 40% believe these providers should assume the financial burden of stolen cloud computing usage and subsequent repairs. This lack of awareness leaves organizations unprepared for cyber-related expenses and potentially susceptible to financial burdens.

Pravesh Kara, Director for Security and Compliance at Advania, emphasizes the need for mid-market businesses to prioritize cybersecurity investments to mitigate risks. He suggests proactive budgeting and investments in cybersecurity intelligence, awareness, protection, detection, and response as crucial steps to safeguard businesses in today’s digital world.

Overall, the ‘Engage the core; mid-market tech challenges report’ sheds light on the pressing issues faced by mid-market organizations in terms of cybersecurity implementations. To gain a deeper understanding of these challenges and access the complete report, interested individuals can visit the Advania website.

About the Advania Group:
Advania operates in several countries, including Sweden, Norway, Iceland, Finland, Denmark, and the UK, and offers managed services, hardware, software, and professional services to clients in the private and public sectors, primarily in the mid-market. With a focus on empowering people and creating sustainable value, Advania aims to be at the forefront of technology solutions.

For media inquiries, please contact Ellie Dibdin at [email protected] or call +44 (0)20 3637 0640.

Frequently Asked Questions (FAQs) – Engage the Core; Mid-market Tech Challenges Report

1. What is the main focus of the ‘Engage the core; mid-market tech challenges report’?
The report focuses on the significant challenges faced by mid-market organizations in Northern EMEA in the areas of cybersecurity, cost, and complexity.

2. Who conducted the survey and how many participants were involved?
The survey was conducted by independent research firm Censuswide and included 966 mid-market IT Decision Makers from the UK, Sweden, Denmark, Finland, Norway, and Iceland.

3. What was one concerning trend revealed by the survey findings?
The survey found that many mid-market businesses prioritize training but fall short on implementing basic security measures, leaving them vulnerable to attacks.

4. What are some of the basic security practices that mid-market organizations admit to neglecting?
Over half of the mid-market organizations admit to neglecting firewalls, antivirus protection, and regular patching despite developing cybersecurity strategies and offering regular cybersecurity awareness training.

5. What is a significant challenge highlighted in the report regarding IT staff turnover?
The report reveals that only 2% of organizations retain “excellent” IT staff for more than two years, with 28% experiencing top talent turnover within six months. This high turnover rate undermines internal knowledge and hinders management accountability for cybersecurity.

6. What is a misplaced assumption among mid-market businesses regarding cloud providers’ responsibilities?
According to the report, a concerning 43% of respondents expect cloud providers to cover data recovery costs, and 40% believe these providers should assume the financial burden of stolen cloud computing usage and subsequent repairs. This lack of awareness leaves organizations unprepared for cyber-related expenses.

7. What cybersecurity investments does Pravesh Kara, Director for Security and Compliance at Advania, suggest mid-market businesses prioritize?
Pravesh Kara suggests proactive budgeting and investments in cybersecurity intelligence, awareness, protection, detection, and response as crucial steps to safeguard businesses in today’s digital world.

8. How can individuals access the complete report and gain a deeper understanding of the challenges faced by mid-market organizations?
Interested individuals can visit the Advania website to access the complete report and gain a deeper understanding of the challenges faced by mid-market organizations.

Definitions:
– Mid-market: Refers to organizations within the middle tier of a market, typically between small businesses and large corporations.
– EMEA: Stands for Europe, the Middle East, and Africa. In this context, it refers to the Northern EMEA region.
– Cybersecurity: The practice of protecting computer systems, networks, and data from digital attacks, unauthorized access, and damage.
– Censuswide: An independent research firm that conducted the survey mentioned in the article.

Related Links:
Advania Website (Main domain for Advania)
Managed Services (Advania’s managed services)
Professional Services (Advania’s professional services)
Solutions (Advania’s technology solutions)