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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Cisco Systems, Inc.    CSCO


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Cisco : Reports Privacy and Security Concerns Increase in Today's Remote World

10/21/2020 | 08:01am EST

SAN JOSE, Calif., Oct. 21, 2020 /PRNewswire/ --

News Summary:

  • Two new global surveys highlight the challenges and opportunities of the accelerated transition to a cloud-first, remote world that demands us to be secure, connected and productive from anywhere.
  • IT teams were not fully prepared for the sudden transition to remote work. Secure access and endpoint security continue to be a top challenge in enabling hybrid work environments going forward.
  • Consumers and workers voice skepticism around the privacy protections in remote work technologies and the trustworthiness of companies to protect their data as their healthcare, education, work, and social lives move further online.

Cisco published two new global research studies that reveal an increase in consumer concern about data sharing during the pandemic and the security challenges organizations face supporting employees and customers in our remote-first world. The reports also highlight opportunities to become more resilient by committing to security that enables access to data and applications from anywhere, on any device. Investing in both security and privacy will prepare organizations and consumers for the "new normal" that is here to stay.

Earlier this year, businesses across the globe transitioned to a remote work environment almost overnight at an unprecedented scale and speed. Security teams worked around the clock to empower and protect their newly distributed teams. Surveying 3,000 global IT decision makers, Cisco's Future of Secure Remote Work Report found most organizations around the world were at best only somewhat prepared to support a remote workforce. But, it has accelerated the adoption of technologies that enable employees to work securely from anywhere and on any device – preparing businesses to be flexible for whatever comes next. The survey found that:

  • 85% of organizations said that cybersecurity is extremely important or more important than before COVID-19
  • Secure access is the top cybersecurity challenge faced by the largest proportion of organizations (62%) when supporting remote workers
  • One in two respondents said endpoints, including corporate laptops (56%) and personal devices (54%), are a challenge to protect in a remote environment
  • 66% of respondents indicated that the COVID-19 situation will result in an increase in cybersecurity investments

"Security and privacy are among the most significant social and economic issues of our lifetime," said Jeetu Patel, SVP and GM of Cisco's Security & Applications business. "Cybersecurity historically has been overly complex. With this new way of working here to stay and organizations looking to increase their investment in cybersecurity, there's a unique opportunity to transform the way we approach security as an industry to better meet the needs of our customers and end-users."

People are worried about the privacy of remote work tools and are skeptical whether companies are doing what is needed to keep their data safe. A survey of 2,600 adults globally found that despite the pandemic, consumers want little or no change to privacy requirements, and they want to see companies be more transparent regarding how they use their customers' data. Organizations have the opportunity to build confidence and trust by embedding privacy into their products and communicating their practices clearly and simply to their customers. Cisco's second annual Consumer Privacy Survey revealed that:

  • 60% of respondents are concerned about the privacy of remote collaboration tools
  • 53% want privacy laws maintained, with little or no exception for pandemic-related data
  • 48% feel they are unable to effectively protect their data today, and the main reason is that they can't figure out what companies are doing with their data
  • 56% believe governments should play the primary role in protecting consumer data, and consumers around the world are highly supportive of the privacy laws enacted in their country

"Privacy is much more than just a compliance obligation. It is a fundamental human right and business imperative that is critical to building and maintaining customer trust," said Harvey Jang, VP, Chief Privacy Officer, Cisco. "The core privacy and ethical principles of transparency, fairness, and accountability will guide us in this new, digital-first world."

To learn more, visit newsroom.cisco.com/security

Additional Resources:

About Cisco 

Cisco (NASDAQ: CSCO) is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future. Discover more on The Network and follow us on Twitter.

Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.

CONTACT: Raquel Prieto, raqpriet@cisco.com


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© PRNewswire 2020
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