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The TCS Risk & Cybersecurity Study

How to better equip your enterprise with a risk and cybersecurity strategy

CISOs and CROs have invested heavily in risk assessment and security tools to anticipate threats and protect their organizations. And advanced technologies are key. But engaged and strategically aligned leadership, secure platforms, and the right skills are just as important.

The good news

CISOs and CROs are somewhat confident about their defense

Nevertheless, a sizable number of cyber risk and security executives feel worried or even overwhelmed about their ability to meet current and emerging threats. Some organizational best practices emerge that point the way toward cyber confidence.

Essential takeway

Growing awareness

Companies where the board of directors and C-suite are proactive about its cyber strategy are more likely to see better-than-average revenue and profit growth and fewer problems recruiting and retaining advanced cyber skills.

Cloud confidence

Using cloud-based tools inspires confidence

Financially successful companies are also more likely to regard cloud-based tools and platforms as more secure than on-premises data centers.

Potential problem

Complacency on risks and threats

While companies rightly see much promise for future revenues and productivity by participating in emerging digital ecosystems, most companies are too complacent about the risks and threats inherent in such exchanges of data.

Top Challenges

Talent acquisition and retention

Recruiting and retaining top talent with the relevant skill sets to manage, engineer and support cybersecurity technology is the number one challenge for cyber professionals today.

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Cloud confidence

Just how confident are CISOs and CROs today? How engaged are their boards of directors? And can they rely on their fellow C-suite and business unit executives to embed cyber risk and security considerations in their plans and projects? Learn these answers and other findings in this brief

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Recruitment and retention

A majority of CISOs say they’re not equipped to ward off the most sophisticated cyber attacks. Yet it’s the companies that don’t yet trust the security of cloud platforms where cyber executives are the most overwhelmed by internal risks and external threats. Learn more in this sneak peak of the study data.

 

About the study


TCS conducted this study of more than 600 CISOs and chief risk officers CROs early in 2022 amid an unprecedented upsurge in increasingly sophisticated cyberattacks from criminals, sovereign states, and other bad actors exploiting global socio-political and economic tensions. The survey respondents were drawn from North American, European, and UK-headquartered companies in four industries facing an unprecedented onslaught of cyber threats and increased risks, whether to business data, customer data, their operations, trade secrets, or their supply chains: banking and financial services, manufacturing, utilities, and media and information services.

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