Lack of funding cited as primary obstacle for cybersecurity in Middle East

• Collaboration across cyber, risk management, and business units is critical to neutralising cyberthreats, protecting business value, and sustaining customer trust.
• Digital technologies, exponential growth of data, and evolving business needs are expanding attack threat surfaces and bringing new challenges.

51 per cent of Middle East business leaders, compared to 36 per cent globally, cited lack of funding as the primary obstacle for cybersecurity, according to a survey conducted by consultancy firm Deloitte.

Moreover, a substantial 69 per cent of Middle East respondents emphasised the strategic need for training and certification programmes to engage, retain and develop cyber talent within organisations.

Among organisations of all sizes, Emily Mossburg, Deloitte Global Cyber Leader, said that cyber is consistently earning a place on the agenda, becoming a “focal point” for business-critical initiatives and investment.

Collaboration is key

“The world is increasingly interconnected, bringing about new risks alongside the new growth opportunities. Digital technologies, exponential growth of data, and evolving business needs are expanding attack threat surfaces and bringing new challenges that elevate cyber as a strategic business issue.”

“Collaboration across cyber, risk management, and business units is critical to neutralising cyberthreats, protecting business value, and sustaining customer trust.”

In fact, he added that managing hybrid IT and digital transformation have emerged as two of the greatest challenges businesses face—solidifying complexity as the new norm for the enterprise.

For many organisations, he said that cyber now weaves more tightly into business operations, outcomes, and opportunities.

The report showcases the current levels of awareness around cyber needs in the market, with a notable 52 per cent of respondents in the Middle East emphasizing the huge impact of cybersecurity on the success of digital transformation initiatives.

In addition, 61 per cent of respondents highlighted the integral role of cybersecurity in supporting comprehensive business disruption planning.

The study also revealed that 55 per cent of regional leaders reported achieving a positive business impact as a result of implementing cybersecurity strategies.

Need to build resilience

“As organisations face a constant barrage of cyber threats in today’s rapidly evolving digital world, it’s important to adopt a strategic approach to effectively safeguard critical assets. A proactive approach to cybersecurity is paramount, as it focuses on building long term value and is considered an essential part of the framework for businesses to produce their desired outcomes,” Tariq Ajmal, Cyber leader at Deloitte Middle East, said.

Moreover, he said that businesses need to build resilience against disruption by planning for complex events and developing proactive incident response plans.

There’s a need to view cybersecurity as a “key business enabler” through adequate funding, as well as training existing talent and actively recruiting top professionals.

To effectively navigate this ever-changing landscape and safeguard their critical assets, organisations must adopt a proactive and strategic approach to cybersecurity.

Here are essential components that organisations should consider when preparing for an evolving cyber landscape:

• Embrace continuous digital transformation and prioritize Cybersecurity throughout their journeys.
• Build resilience for disruption by planning for complex events and developing proactive incident response plans.
• View cyber as a business enabler that can bring significant organisational benefits.
• Ensure adequate funding for cybersecurity to support their initiatives and protect critical assets.
• Organisations should nurture and attract cyber talent by training existing talent and actively recruiting top professional.

How can organisations prepare for an evolving cyber landscape?