Firms to hike investments in fight vs cyber attacks

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    Majority of business firms in the Philippines plan to increase their investment in cybersecurity as the coronavirus pandemic led many to work remotely, according to Cisco’s latest study.

    The study, Cisco’s Future of Secure Remote Work Report, showed 64 percent of Philippine companies consider cybersecurity as an extremely important component in the remote work setup.

    Almost half or 48 percent of organizations in the Philippines said they expect more than half of their workforce to continue working remotely post-pandemic.

    This compares to an average of just 29 percent of Philippine organizations with more than half of their workforce working remotely before the pandemic.

    Businesses are prepared for this hybrid workplace where employees move between working remotely and in the office. Cybersecurity now tops corporate priorities, with 93 percent of organizations in the Philippines saying cybersecurity is extremely important or more important than before the pandemic.

    The study showed that 69 percent of organizations in the Philippines plan to increase their future investment in cybersecurity due to the coronavirus disease 2019 (COVID-19).

    To support their needs for remote work, 74 percent of the Philippine organizations adopted collaboration tools; 69 percent, cybersecurity measures; and 59 percent, cloud-based document sharing.

    The report pointed out majority of the work being done by organizations are heavy on tasks that require employees to work in teams, be consultative, and work on the same projects remotely.

    The bigger challenge lies in the need to protect information as users connect from their home Wi-Fi or use their personal devices to connect to corporate applications, it said.

    “Cybersecurity has been a buzz word in the Philippines for years, but this pandemic has really pushed companies to take action within their own organizations,” said Karrie Ilagan, Cisco Philippines managing director.