Security News > 2020 > January > Investment in Privacy Pays Cybersecurity Dividends: Cisco
Cisco's 2020 Data Privacy Benchmark Study attempts to quantify an often-repeated claim from cybersecurity experts: investment in privacy improves overall cybersecurity.
This year, Cisco wanted to examine what other benefits investment in privacy might bring; and more specifically, whether a dollar figure could be applied as an ROI. It queried 2,800 companies from 13 countries in a double-blind survey; and found that an investment of $100 dollars brings $270 in cybersecurity benefits.
"That's a very strong statement," said Waitman, "That the investments that companies must make in privacy in order to comply with the growing number of privacy and data protection regulations are returning value way beyond the simple avoidance of GDPR and other regulatory fines." It argues that companies should not treat privacy compliance as a tick box requirement, but an opportunity to improve their cybersecurity posture.
The result, said Waitman, is that "Respondents indicated a correlation between privacy investment and a better turnaround in app development." The reason, he suggested, is that without the investment in privacy and the corresponding greater knowledge of what personal data can be used in app development and what cannot, developers fail to make best use of their resources.
Privacy is considered so important that 82% of the responding organizations now view privacy certifications such as ISO 27701 and Privacy Shield as a buying factor when selecting a product or vendor in their supply chain.