2023 Compliance Trends Report highlights the business impacts of non-compliance
- Published: Tuesday, 07 February 2023 10:12
Drata has published results from its inaugural 2023 Compliance Trends Report, highlighting common pain points, objectives, and opportunities with security and IT compliance programs. The report surveyed 300 IT and security professionals in fast-growing organizations across the US.
According to the report, 87 percent of respondents have faced consequences as a result of not having continuous compliance, including slowed sales cycles, security breaches, business interruption, loss of a business relationship, a damaged reputation, or fines. With limited staff as a leading challenge in maintaining compliance, the majority of survey respondents cite that increasing budgets and automating processes would improve their abilities.
Other key findings include:
- 68 percent of respondents believe that compliance opens new business opportunities or acts as a differentiator, while 32 percent view it as burdensome or just a checkbox.
- 74 percent admit to vulnerabilities in their risk or security programs that are not being addressed or covered due to a lack of bandwidth or resources.
- IT and security teams spend an average of 4,300 hours annually achieving or maintaining compliance.