Cybersecurity risks in the enterprise show no signs of slowing down, as the sophistication, frequency and consequences of cyberattacks continue to evolve and grow. Toss in the COVID-19 pandemic and supply chain disruptions, and it’s no wonder that enterprises are shifting their cybersecurity strategies.

How successful are they? TechRepublic Premium ran a cybersecurity strategy survey to find out. It asked fifteen questions to garner a better understanding of where businesses stand on various security-related topics.

The report asked the following questions:

• How has the COVID-19 pandemic affected your cybersecurity strategy?
• Is your company concerned about security risks for supply chains?
• What supply chain cybersecurity measures has your company implemented or will implement in the next 12 months?
• Who is responsible for creating your company’s cybersecurity strategy?
• What best describes your company’s cybersecurity strategy?
• What elements are included in your company’s cybersecurity strategy?
• What new tactics has your company added to its strategy in the past 12 months?
• What are the biggest challenges your company has faced when implementing a cybersecurity strategy?
• How confident are you in the cybersecurity measures your company is currently taking?
• Does your company require multi-factor authentication to access sensitive data and accounts?
• What modern technology do you fear implementing the most, because of cybersecurity threats?

Overall, the majority of respondents (83%) reported being either “very” or “somewhat” confident in their company’s current cybersecurity strategy. Further, 32% of respondents said that their company’s cybersecurity strategy is developed in real-time as needed or is a formal policy that is reviewed on a regular basis and is adjusted as needed.

However, 17% of respondents reported their companies have no strategy in place. While 19% of respondents either work in companies that might have a formal policy that is rarely reviewed, or they are unsure of their company’s strategy.

It’s not surprising that a majority of respondents (64%) indicated that their companies were concerned about security risks for supply chains. Respondents plan to counter these challenges with solutions like adding two-factor authentication or authentication codes to all software and hardware (22%), including security requirements in every RFP and contract (16%) and working with vendors onsite to address any vulnerabilities and security gaps (16%) and limiting vendor access to software (14%).

Only 3% of respondents have not implemented nor plan to implement any supply chain cybersecurity measures.

Further, COVID-19 has led to shifts in cybersecurity strategies for roughly a quarter of respondents. For example, 23% of respondents reported that due to the pandemic their company revamped or plans to revamp their cybersecurity strategy, and 22% of respondents increased or plan to increase their budget allocation for cybersecurity.

To learn more about cybersecurity strategies in the enterprise, download the TechRepublic Premium report Research: Cybersecurity strategy 2021: Tactics, challenges and supply chain concerns. This report contains all the data, plus analysis, from the survey and is free for TechRepublic Premium subscribers.