New rules prompt 93% of organizations to rethink cybersecurity plans

A report from Swimlane examines how security budgets and compliance strategies are impacted by the shifting regulatory landscape. This report surveyed 500 cybersecurity decision-makers throughout the United States and the United Kingdom. The survey focused on cybersecurity decision-makers at enterprises with at least 1,000 employees. 

The report found that a majority of organizations (93%) have reevaluated cybersecurity strategies in the past year due to new regulations. 58% report that their organization has reconsidered its cybersecurity strategy in its entirety. Furthermore, the report discovered that these strategy adjustments are affecting cybersecurity decision-makers, with 45% citing new role responsibilities.

Key findings from the report include: 

• 92% of respondents indicated an increase in their security budgets. Among them, 36% experienced budget increases between 20% and 49%, whereas 23% saw increases greater than 50%. 
• Only 40% are confident that their organization possesses the necessary resources, personnel and tools to comply fully with cybersecurity regulations. 19% say their organization has done very little to prepare. 
• One-third of respondents are fully confident that their organization can currently meet full requirements.