Enough to make you 'WannaCry'

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By Qual IT | 20 June 2017

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‘WannaCry’ recently caused havoc around the world. The virus, which uses malware to encrypt victims’ data and demands victims pay several hundred dollars’ ransom, targeted thousands of computers around the world. The virus shut down Britain’s National Health Service and has reportedly popped up in Auckland and Wellington as well.

This has brought cyber-security front-of-mind for New Zealand organisations as breaches and system failures cost companies thousands of dollars, millions globally every year, and of all the funds lost due to cyber-attacks, 68% is declared unrecoverable.

In 2015, it was estimated that security service spend reached $76 billion (NZD) worldwide. This figure shows how much importance is being placed on keeping data and systems safe. When new IT development is a large investment to your company, a 68% is major loss and can potentially cripple many organisations.

In 2016, Qual IT surveyed IT leaders of some of New Zealand’s largest organisations and published the findings in the report ‘Buzzword or Benefit?’ (link). The study showed that out of a range of different digital concepts, including big data, mobility, social and the cloud, cyber-security was overwhelmingly rated as the most relevant to New Zealand organisations.

2016 cyber-security relevancy rating

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In 2017, Qual IT surveyed IT leaders again and to uncover the adoption of these digital concepts. We found that while cyber-security was rated as even more relevant than the previous year, the rate of adoption was quite a way behind. While cyber-security was the most mature digital concept within New Zealand organisations, beating out cloud computing, big data, mobile platforms and social technology, the response was quite divided in terms of adoption.

2017 cyber-security maturity rating

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Comparison relevancy ratings

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This shows us that some New Zealand organisations have cyber-security firmly embedded throughout their organisation and are doing a good job at safe-guarding themselves against potential threats. However, there are other organisations who are not so mature and are potentially leaving themselves open to threats such as ‘WannaCry’.

To find out more about the adoption rates of cyber-security concepts as well as some best practices that should be followed when it comes to ensuring quality outcomes for cyber-security projects, download the 2017 Digital Readiness Report, ‘Building strong digital foundations.’

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