UK Businesses More Exposed to Major Cyber Incidents Than Any Other Country, According to New Research by Commvault
Rhea-AI Summary
Commvault (NASDAQ:CVLT) has released concerning research findings about cybersecurity in the UK. The study reveals that 93% of UK businesses have experienced business-critical cyber incidents, with 57% occurring in the last 18 months - the highest rate globally.
Despite facing increased threats, UK organizations are 21% less likely to have deployed dedicated recovery environments and 11% less likely to have tested recovery plans within the last month compared to other countries. The main challenges include system complexity (52%) and keeping recovery plans updated (47%).
On the positive side, UK businesses lead in some preparatory measures, with 65% maintaining critical system inventories and 61% creating defined incident response processes, exceeding global averages of 50% and 41% respectively.
Positive
- 65% of UK businesses maintain inventories of business-critical systems, ahead of global average of 50%
- 61% have created defined runbooks and processes for incident responses, surpassing global average of 41%
Negative
- 93% of UK businesses experienced business-critical cyber incidents, with 57% in past 18 months
- UK organizations are 21% less likely to have dedicated recovery environments
- Only 36% of UK organizations strongly believe in prioritizing minimum viability approach
- 52% struggle with system complexity as main barrier to achieving minimum viability
News Market Reaction – CVLT
On the day this news was published, CVLT declined 2.05%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Only
Despite experiencing more frequent devastating incidents than the global average,
Barriers to Being a Minimum Viability Company
The survey also highlights key findings tied to the Minimum Viability Company (MVC) concept. This concept outlines the core operations that are necessary to resume business quickly after a cyberattack. In an age where cybercriminals are increasingly sophisticated, infiltrating backups with malware, or planting dormant ransomware that activates after restoration, this approach is fundamental to operating in a state of continuous business.
Survey respondents stated that the biggest challenge preventing
Almost a third (
However, nearly two-thirds of
Many of these cyber readiness practices are directly relevant to establishing what's needed to adopt a MVC approach. Yet only
"With the threat landscape evolving, business recovery is now a key concern at the board level," said Richard Gadd, Senior Vice President, EMEA, Commvault. "However, this research identifies critical gaps many organisations in the
"Business-scale cyberattacks are now the norm, not the exception. If complexity is killing efforts to prepare for recovery, executive leaders need to assume control and set business-level priorities, so they can keep the organisation running after an attack," said Howard Holton, Chief Operating Officer, GigaOm.
Methodology
GigaOm surveys serve to test hypotheses about a given topic area. In this survey, we looked to explore how enterprise organisations are approaching recovery, and the barriers and enablers that impact success. 1,000 senior decision makers responded to the survey, directly involved in defining, buying, or using application acceleration solutions. The sample of
About Commvault
Commvault (NASDAQ: CVLT) is the gold standard in cyber resilience, helping more than 100,000 organisations keep data safe and businesses resilient and moving forward. Today, Commvault offers the only cyber resilience platform that combines the best data security and rapid recovery at enterprise scale across any workload, anywhere—at the lowest TCO.
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SOURCE COMMVAULT
FAQ
What percentage of UK businesses have experienced critical cyber incidents according to Commvault's research?
What are the main barriers preventing UK companies from achieving Minimum Viability Company status?
How do UK businesses compare globally in terms of cyber incident recovery preparation?
What positive steps have UK businesses taken in cyber incident preparation?
How many UK organizations prioritize the minimum viability approach according to Commvault's study?