Zarr Tech (www.ZarrTech.net) a company that solves and diagnoses business technology problems and offers local IT consultation, is weighing in on a study showing a 160% increase in cyber incidents across Canada.
The Global State of Information Security’s 2016 Survey found that businesses are ramping up their cybersecurity, largely due to a 160% increase in cyber incidents in Canada last year. Businesses recognizing the need to protect their property has resulted in an 82% year-over-year increase of cybersecurity. However, this kind of cybersecurity still only accounts for roughly 5% of the total IT spending. (Source: “Cybersecurity Incidents in Canada Increased 160% Year Over Year According to PwC Canada’s 2016 Global State of Information Security Survey,” News Wire, January 13, 2016; http://www.newswire.ca/news-releases/cybersecurity-incidents-in-canada-increased-by-160-year-over-year-according-to-pwc-canadas-2016-global-state-of-information-security-survey-565153521.html.)
“Yes, businesses have clearly recognized that they absolutely must invest resources into cybersecurity,” says Matthew Zarrillo, IT Specialist at Zarr Tech. “But that realization hasn’t yet been reflected accurately enough in their actual spending. These threats are real and they can severely damage an organization. Businesses, small or large, need to put checks in place to prevent this from happening.”
About half of Canadian companies say their board is playing a role in assessing security budgets. The same percentage of Canadian companies has invested in a Chief Information Security Officer. Close to 60% of businesses are purchasing cyber security insurance.
“A lot of companies know that cybersecurity is something to be aware of and fight against, but not many understand just how dangerous a breach of this security can be for not only the company itself, but potentially also for its clients,” Zarrillo concludes.
Zarr Tech has been a player in the IT industry for many years. It is based in the Greater Toronto Area and has a customer-centric approach to providing IT services. It strives to implement or improve technology for the businesses it works with, which include clients from the retail, medical, and communications industries.