New CISOs Survey Reveals How Small Cybersecurity Teams Can Confront 2021

The pressure on small to medium-sized enterprises to protect
their organizations against cyberthreats is astronomical. These
businesses face the same threats as the largest enterprises,
experience the same (relative) damages and consequences when
breaches occur as the largest enterprises but are forced to protect
their organizations with a fraction of the resources as the largest
enterprises.

Cybersecurity company Cynet just released findings from a survey
of 200 CISOs in charge of small security teams (Download here^[1]) to shine “a spotlight
into the challenges of small security teams everywhere.”

In addition to better understanding the challenges these CISOs
face, the 2021 Survey of CISOs with Small Security Teams delves
into the strategies CISOs will employ to ensure their organizations
are protected from the ongoing onslaught of cyber threats – all
while saddled with limited budgets and headcount.

The survey findings will also be presented in a live webinar,
register here to attend^[2].

Some Fascinating Findings

It was clear from the survey that CISOs with small security
teams believe they are exposed to a higher risk than enterprises
with larger security teams. These CISOs know they are being
targeted with the same highly advanced threat and techniques as
global enterprises, only a fraction of the budget and manpower.

63% of CISOs surveyed feel that their risk of attack is higher
compared to larger Enterprises, who have larger teams, budgets, and
tools in place. This sentiment is taking its toll, as a shocking
57% of CISOs admitted that their ability to protect their company
is overtly lower than they would like it to be.

Consider that large global financial institutions typically
spend over $500 million on cybersecurity annually with an IT
security staff of several thousand employees. 70% of the CISOs in
the survey have budgets of less than $1 million and five or fewer
IT security specialists on staff.

While large global enterprises certainly have a much wider and
deeper environment to protect, the threats are very similar, and
therefore, the protections required are also similar. The surveyed
companies simply do not have the budgets and bandwidth to protect
themselves adequately. They know it, and the cybercriminals know
it.

Top Challenges Protecting Against Cyber Threats

How Will These CISOs Protect Their Companies in 2021?

Beyond several additional insights regarding the current
situation faced by CISOs with small security teams, the survey also
delves into the plans these CISOs have for confronting
cybersecurity in 2021. These CISOs know they have to do more with
less and their overarching plans reflect it. 2021 initiatives fell
into three main buckets.

Outsourcing

Roughly half of the companies are outsourcing threat detection
and response to a Managed Detection and Response (MDR) service
(53%), and the other half (47%) are using a Managed Security
Services Provider (MSSP) service. One-third of those using an MDR
said the most valuable service 24/7 critical alerts and monitoring.
This approach makes sense as 47% of companies said their top
challenge is that they don’t have adequate skills and experience to
protect against cyber-attacks.

Automation

These CISOs know that they do not have sufficient staff to
protect their organizations fully. 48% of CIOs revealed that they
could have avoided some security incidents in 2020 if they had a
bigger team. Unable to expand their teams, 80% of CISOs responded
that they would like to invest more in automation, allowing their
current teams to do more with less.

Consolidation

Almost half (49%) of the CISOs said that they need to
consolidate security tools, and 43% felt that their team wasted
time shifting between tool consoles. As a result, over this year,
the CISOs will focus on consolidating security tools and platforms
(61%) and replacing complex security technologies (52%).

This is also reflected in the fact that 38% of the CISOs plan to
purchase an Extended Detection and Response (XDR) solution as it
supports the automation, consolidation, and complexity reduction
tactics prioritized by respondents.

Down, But Not Out

The tenacity exhibited by CISOs with small security teams is
admirable. Based on the survey results, the CISOs know they have a
daunting task ahead of them.

But, they are taking the proverbial bull by the horns and
figuring out ways to improve their situation with the limited
resources available.

If nothing else, the survey shows these struggling CISOs that
they are in good company, fighting for the same things and forging
into 2021 in lockstep with their brother and sister CISOs with
small security teams.

Download the 2021 Survey for CISOs with small security teams
here^[3]
or register here to attend^[4]
a live webinar