A joint report by ESI ThoughtLab, Willis Towers Watson and various other cybersecurity and risk management firms shows that the average company lost $4.7 million due to cyberattacks in the previous fiscal year.
The study also found that organizations across the globe intend to increase cybersecurity spending by 34% in the next fiscal year, with 12% of firms even planning to increase investments by more than 50%. Last year, cybersecurity spending increased by 17% on average.
Read more: Organizations expect to boost their cybersecurity investments by 34%
