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The 2013 Information Risk Maturity Index

More than half (58 percent) of European mid-sized firms say they would refuse to do business with a company that had suffered a data breach, despite the fact that 41 percent believe data loss is just an inevitable part of daily business. That’s according to a new report which discusses research conducted by PwC with Iron Mountain.

The 2013 Information Risk Maturity Index shows that, even as European companies are experiencing a 50 percent per year increase in data breaches, their approach to information management is defined by confusion, inconsistency and double standards.

This is the second annual publication of the Information Risk Maturity Index, which measures how prepared European mid-tier companies are to manage and respond to information risk.

The study found that, while 68 percent of companies recognise that a responsible attitude to information is critical to business success, 47 percent say their Board does not see data protection as a big issue and 43 percent say their employees hold the same view.

In addition, while 44 percent expect the risk of a data breach to increase, 60 percent believe that cutting costs is more important than reducing exposure to information risk. Less than half (45 percent) have an information risk strategy in place and measure its effectiveness, and 38 percent have a plan but do not know whether it works or not. More than half (54 percent) say the pace of change in information risk is so staggering that they will never keep up with it.

PwC surveyed senior managers at 600 European businesses with 250 to 2,500 employees in the legal, financial services, pharmaceutical, insurance and manufacturing and engineering sectors.

The results, assessed for France, Germany, Hungary, the Netherlands and Spain show that the average Information Risk Maturity Index score for European companies in 2013 has increased to 56.8, compared to 40.6 in 2012, set against a score of 100.

A summary of the report, ‘Beyond Awareness: the Growing Urgency for Data Management in the European Mid-market’, can be found at www.ironmountain.co.uk/risk-management

•Date: 21st June 2013 • Europe •Type: Article • Topic: ISM

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