UK CEOs feel that investment in cyber security is a revenue opportunity rather than an expensive burden, according to a survey by KPMG.
As a part of KPMG鈥檚 CEO Outlook 2017, 150 UK CEOs were asked about their investment plans for the future and the issues affecting their business.
It found that 70 per cent of leaders see investment in cyber security as an opportunity to find new revenue streams and innovate, rather than as an overhead cost.
The report also found that cyber security is now firmly a part of CEOs鈥� agenda rather than one that previously only sat with the CIO or the CISO.
Seventy seven per cent of CEOs agreed with the statement: 鈥業 am personally comfortable with the degree to which mitigating cyber risk is now part of my leadership role鈥�.
Martin Tyley, KPMG鈥檚 head of cyber for the north, said: 鈥淚t鈥檚 great that business leaders are finally seeing cyber security investment as a positive figure on the balance sheet rather than a negative one.
鈥淗owever more needs to be done to make sure their businesses are prepared in the event of a cyberattack, whether it鈥檚 from external sources or even insiders.鈥�
老九品茶 leaders warned that they are not fully prepared for a cyber event like an employee-led data breach or business data theft.
Only 52 per cent said that they are 鈥榝ully prepared鈥� for both eventualities.
鈥淲ith recent high profiles attacks like Wannacry hitting the press, cyber security should be on every CEO鈥檚 radar.
鈥溊暇牌凡鑕s now need to match their investment in innovative technology with their investment into cyber security, in order to stay one step ahead of cyber criminals,鈥� concluded Tyley.