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Half of hacked companies say they struggle to attract new customers

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Cybersecurity is hitting the corporate bottom line for all companies. Nearly half of all executives admit that their ability to attract new customers was harmed following a security incident, according to a new study from Forrester Consulting and BitSight.

, the Council of Institutional Investors highlights several critical issues that investors should focus on:Whether the board has evaluated and approved the company's cybersecurity strategy.The metrics used by the board to evaluate the company's cybersecurity efforts, including security performance and sector/peer benchmarking

For years, companies have treated cybersecurity as a risk that IT could solve alone. The response from the technology teams was to buy more technology but not necessarily measure effectiveness. For years, companies have treated cybersecurity as a risk that IT could solve alone. The response from the technology teams was to buy more technology but not necessarily measure effectiveness.

According to the Forrester-BitSight study, companies that formally monitor, measure, and track performance are better at managing security outcomes.

 

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