26% of organizations don’t perform any long-term trend analysis
24% of organizations are likely to increase BC spend in 2016
51% of organizations use ISO 22301 as a framework for business continuity management
- Cyber attacks remain the top threat
- The threat of terrorism has jumped six places to come fourth in the list
- The top trends under scrutiny include the use of internet for malicious attacks, and the influence of social media
- A worrying number of organizations don’t use long-term analysis to better understand threats
Not all organizations are conducting long-term trend analysis. Of those that do, many don’t capitalise on the results. We must now focus on breaking down silos and encouraging cross-discipline engagement – especially among fields such as BC, risk management and information security.
Investment: a mixed picture
Overall, more companies plan to increase budgets than cut them. But it’s not quite as simple as that – the story varies greatly by sector. Things look especially positive in industries such as manufacturing, retail and IT/telecommunications. But the picture in the public sector is significantly less encouraging.
The influence of the ISO 22301 benchmark is growing. Most organizations, while not certified, refer to this standard to satisfy suppliers and reassure customers. But the story still varies greatly by industry. Future studies will focus on identifying the reasons behind these differences.