Canadian Business executives agree they aren’t doing enough to protect their data

Computer, intelligent, Internet, IT, Computer, Security

Senior executives in companies across Canada agree they aren’t doing enough to secure their data and protect their networks. The findings are the result of a survey by Microsoft wherein 75 per cent of all executives in businesses have agreed that they are not fully prepared to tackle security breach.

This is a startling find considering that there have been a number of high-profile security breaches in the last decade including the most recent Yahoo breach to the years-old Sony PlayStation breach that saw details of millions of users stolen – in some cases even financial data.

In a survey, more than 700 senior executives from businesses in Canada were asked about digital transformation and over a third of them said that implementing a digital strategy is one of their top five business objectives in 2017, with 68 per cent saying they are already harnessing the power of the cloud and 81 per cent stating that cloud solutions will play an important role in executing their digital strategy.

However, when it comes to security, there is a lot of skepticism with 58 per cent listed security as a top concern when migrating to the cloud, followed by privacy (47 per cent). In addition to this, only 21 per cent of executives reported that they feel they are “fully prepared” in the case of a data hack or leak. The survey also found that 90 per cent indicate it is important that a cloud provider actively targets cyber criminals and works with governments to maintain top cybersecurity standards.

Owing to increased proliferation of cloud, more and more businesses in Canada are migrating their data to the cloud, but they are still concerned and confused about their security and preparedness when it comes to managing data.

Local data residency has also come out as a very important point with majority (85 per cent) reporting that they want their data to remain in Canada.

According to Doug Schneider, Senior Vice President and Global Chief Technical Officer at Manulife Financial, one of Canada’s leading financial services companies, Manulife chose Microsoft Azure for their journey to the cloud due to Microsoft’s complete suite of technology services and strong security offering.

For Goldcorp, one of the world’s largest gold mining companies, operating high-quality mining assets in a safe and sustainable manner is critical to doing business.

Microsoft revealed that it invests more than a billion dollars in security research and development every year and recently announced its Cyber Defense Operations Centre; a state-of-the-art facility that brings together security response experts from across the company to help protect, detect and respond to threats in real-time.

In addition, Microsoft’s Windows 10 operating system has Credential Guard, Device Guard and improved security features such as BitLocker, which means security events related to client device management requiring IT remediation are reduced or avoided altogether.