UK firms lagging behind on security testing according to AVORD research
New research has found that only five per cent of UK businesses spend £750,000- £999,999 on security testing.
The Cost of Security Testing, a report recently commissioned by security testing platform Avord, also found that only 1 per cent of companies spend over £1m annually on security testing. It said that businesses across the UK have criticised the security testing industry for being too expensive and this has resulted in companies spending more than £6.6bn annually protecting critical assets from cyber-attacks.
The research further found that companies are struggling to justify the costs of external consultancies. Avord said this data suggested there is a gap in knowledge of the true financial cost of a data breach and preventative security testing, but that this is based on misinformation and overpriced consultancy costs.