In each of the last three years, Cisco has surveyed organizations to learn if they reaped benefits from privacy beyond meeting compliance requirements. The data shows that it does.
Over the past few years, data privacy has evolved from ‘nice to have’ to a business imperative and critical boardroom issue. The surveys revealed that:
- More than 40 percent of organizations in the study are seeing benefits at least twice that of their privacy spend.
- A strong correlation exists between organizations’ privacy accountability and lower breach costs, shorter sales delays and higher financial returns.
- More than 70 percent of organizations receive significant business benefits from privacy, such as operational efficiency, agility and innovation.
- 82 percent of organizations view privacy certifications as a buying factor when selecting a supply chain product or vendor.
- Across all companies, for every dollar of investment there was roughly $2.70 worth of benefit.
If your company needs help designing and implementing an effective privacy and security plan, contact us, we can help.