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57% Indian Businesses Suffered Downtime Because of Data Loss in 2020, States the Report

Cybersecurity spending is growing over businesses but preventing data loss brought on by cyberattacks is proving to be a hard job for many businesses.

Approximately 70 percent of organizations in India utilize as many as 10 solutions concurrently for information security and cybersecurity, while 30% operate over 10, yet 57 percent of these suffered unexpected downtime because of information loss in the past year, reveals a brand new survey by Acronis, a Singapore-based cybersecurity firm. Downtime may cause a massive loss of earnings and reputation for associations. In addition, it can cause significant penalties under data protection legislation. Based on Gartner’s estimates, the typical cost of a single moment of system downtime is roughly $5,600. For large businesses, the prices are even greater. Security specialists have repeatedly emphasized that investing in numerous options does not necessarily improve safety. Most frequently it increases complexity and reduces visibility to the IT group, leading to heightened risk.

Rustom Hiramaneck, general director, South Asia in Acronis points out, “more options don’t provide increased security, as using different tools to deal with individual kinds of vulnerability is complex, inefficient, and expensive.”

The report further resides on the absence of transparency from cybersecurity practices, which complicates matters for the IT team.

For example, it was discovered that 35 percent of IT consumers and 11 percent of IT professionals in India couldn’t tell if their information was altered with no knowledge compared to 63 percent and 16 percent of the international counterparts, respectively. Typically, the solutions employed by these made finding that hard. The survey also discovered that 20 percent of IT professionals in India, compared to 13% internationally, do not know whether their company is subject to information privacy regulations. Security experts consider lack of penetration takes the onus from IT, staff, from implementing approaches to prevent information loss.

For the poll, Acronis interviewed 4,400 IT professionals and users in 22 nations, such as India.

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