Managing information is more complex today than it has ever been. European businesses face a shifting environment defined by rapidly increasing volumes of information in multiple formats; the explosion of social media; the proliferation of mobile devices; frequent changes in legislation, and a rising malicious threat. At the same time, many hope to realise an ambition to harness greater value from their information – a desire, if you like, to gain an information advantage over their competitors. All this at a time when the very resources required to manage the change and accommodate the ambition are under strain. For anyone dealing with information risk, information security and/or information management the landscape has changed beyond all recognition.
The increasing complexity brings increasing information risk. We worked with PwC to examine the state of information risk facing mid-sized businesses in Europe.
We spoke to CEOs, CFOs, CIOs and Directors, at 600 mid-sized businesses (250-2500 employees) in France, Germany, Hungary, the Netherlands, Spain and the United Kingdom, in order to provide insight from a senior business perspective into the nature and extent of the most pressing information risks and into how these are being managed at a senior level.
What’s changed since 2012?
In just over a year, awareness of information risk has grown, with businesses everywhere increasing their index score. The European average has risen from 40.6 last year to 56.8 against a target of 100. This is a step in the right direction but still falls well short of the ideal.
The progress is happening at a time when the risks are more serious and the consequences more concerning. An inadvertent disclosure today can result in significant financial penalties, it can leave your carefully earned reputation in tatters, the hard-earned loyalty of your customers broken beyond repair.
Our research suggests that the increased awareness is creating uncertainty, as businesses recognise the need to act but remain unclear as to where to turn or what to do next. Click on the infographic to see highlights from the research.
2013 was the second year for the Information Risk Maturity Index. This version can be downloaded from http://www.ironmountain.co.uk/Risk-Management/