More than half of IT decisions makers have paused or killed a project due to IT security fears according to a survey conducted by global network security company Fortinet.
The Fortinet Security Census 2014 found that respondents admitted to “abandoning or delaying at least one new business initiative because of IT security concerns” shadowing an increase in boardroom pressure regarding security matters.
A total of 52% of all IT decision makers have slowed down or cancelled a project because of cyber-security fears, though the figure is higher, at 65%, among those reporting a ‘very high’ level of boardroom pressure and scrutiny around IT security.
In 2013, awareness of cyber security issues was barely at 40% in the boardroom, but has since rated ‘high’ or ‘very high’ on the list of concerns for two-thirds of senior management, accounting for the rise in projects being stalled or cancelled.
“With IT security on the boardroom agenda, this and other challenges are clearly adding weight onto the shoulders of senior IT professionals and questioning the ability of some organisations to exploit innovation while remaining secure,” said John Maddison, vice president of marketing products at Fortinet.
The top issues that attracted boardroom pressure were the increasing frequency and complexity of threats (85%) and new demands from emerging technology (80%). Mobility, cloud computing and biometrics were among the areas mentioned.
However, awareness at the top level has also been beneficial for IT security projects with more resources being given to address pressing issues such as privacy concerns and big data initiatives, which have created demand for new IT security investments.
The Fortinet Security Census 2014 had more than 1,600 respondents in IT decision-making roles representing large companies in 15 countries.