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Most Indian firms see Employee experience as a critical aspect of achieving their Business Objectives: Study

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New Delhi, April 27, 2017: Almost 43 percent of business and IT leaders in India — higher than the average 38 percent for Asia-Pacific and Japan — see employee experience as a critical aspect of achieving their business objectives, a new study said on Thursday.

According to the study, conducted by Forrester Consulting on behalf of Dell, Indian firms realise the value of technology and innovation and the importance of constantly improving customer experience better than other developing countries in the region.

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This puts India in a unique position in Asia-Pacific and Japan (APJ), where collectively only six in 10 (61 per cent) business leaders felt that existing technology in their organisation is sufficient to meet their business goals.

“To establish a balance, IT and business leaders need to embark upon a workforce transformation strategy and provide employees, appropriate end user technology — the requisite devices and software — in order to attain the two-fold objective of increasing employee efficiency, as well as retaining talent,” Indrajit Belgundi, Director and General Manager, Client Solutions Group, Dell India, said in a statement.

The study also found that most security breaches that have occurred in the past 12 months are because of vulnerabilities at the device level.

Nearly 43 per cent of breaches in India occurred due to lost/stolen assets by an employee, while 39 per cent occurred due to a security breach of an employee device. (IANS)

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Indian Firms Losing $10 mn Every Year Because of Cyber Attacks: Microsoft Study

Additionally, more than one in five (22 per cent) of Indian organisations have witnessed benefits of using AI to achieve faster and more accurate detection of threats

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A sign for Microsoft is seen on a building in Cambridge. VOA

A large-sized enterprise in India loses an average of $10.3 million owing to cyber attacks and a mid-sized organisation an average of $11,000 annually, a Microsoft-led study said on Wednesday.

Cyber security attacks have also resulted in job losses across different functions in more than three in five (64 per cent) organisations that have experienced cyber attacks, revealed the Frost and Sullivan study commissioned by Microsoft.

“With traditional IT boundaries disappearing, the adversaries now have many new targets to attack. Companies face the risk of significant financial loss, damage to customer satisfaction and market reputation-as is evident from high-profile breaches this year,” said Keshav Dhakad, Group Head and Assistant General Counsel, Corporate, External & Legal Affairs (CELA), Microsoft India.

The study, titled “Understanding the Cybersecurity Threat Landscape in Asia Pacific: Securing the Modern Enterprise in a Digital World” involved a survey of 1,300 business and IT decision makers.

“More than three in five organizations (62 per cent) surveyed in India have either experienced a cybersecurity incident (30 per cent) or are not sure if they had one as they have not performed proper forensics or data breach assessment (32 per cent),” the findings showed.

The survey ranged from mid-sized organisations (250 to 499 employees) to large-sized organizations (more than 500 employees).

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Hackers bleeding large Indian firms by $10 mn on average each year: Microsoft. (Wikimedia commons)

To calculate the cost of cybercrime, Frost & Sullivan created an economic-loss model based on macro-economic data and insights shared by the survey respondents.

The study also examined the current cyber security strategy of organisations in India.

It found that nine in 10 (92 per cent) Indian organisations are looking to leverage Artificial Intelligence (AI) to enhance their cyber security strategy.

Additionally, more than one in five (22 per cent) of Indian organisations have witnessed benefits of using AI to achieve faster and more accurate detection of threats.

Also Read- Employees at Facebook Looking For Better Opportunities in Future

“Most organisations lack a cybersecurity strategy, while for a large majority cybersecurity was an afterthought. About 59 per cent (three in five) respondents said the fear of cyber attacks has hindered digital transformation projects,” the study noted.

While 37 per cent see cybersecurity strategy only as a means to safeguard the organisation against cyberattacks rather than a strategic business enabler, a mere 18 per cent seeing cybersecurity as a digital transformation enabler, it added. (IANS)