Cyberattack volume rose by 17% in the past year, while the severity of attacks jumped by 30%, a new report by ServiceNow and Ponemon shows. In response to these trends, companies have increased the cybersecurity budgets by 24%.
One major pain point is vulnerability management, with companies needing 12 days on average to install security patches, while the average patch time for critical vulnerabilities was ever higher: 16 days. According to Sean Convery of ServiceNow, “companies saw a 30% increase in downtime due to patching of vulnerabilities, which hurts customers, employees and brands.”
Read more: Research finds 2019 increase in breaches and cybersecurity spending
