A report has found organisations are struggling to manage data securely, prepare for potential crisis scenarios and defend against hacking and other cyber threats.
According to the 2014 IT Security and Privacy Survey by global consulting firm Protiviti, a lack of confidence in their ability to prevent a cyber attack or data breach is a key factor.
The report said the lack of confidence underlines the need for strong incident response planning and execution.
The report also highlighted a significant year-over-year jump in the number of organisations without a formal and documented crisis response plan, which has gone from 12% in 2012 to 21% in 2013.
Ryan Rubin Proviti, managing director and UK leader of the firm's IT security and privacy practice said: "Our survey results tell a story of gaps between where companies currently stand and where they should be in relation to fundamental elements of IT security.
"Some progress has been made since our last survey, yet many organisations still fall short of important standard protocols for IT security and privacy."
The survey also found that the percentage of organisations that retain data and records is 47% up from 29% in 2012, while just 44% of organisations reported some form of data classification scheme, down from 63% in 2012.
Companies are becoming more aware of where and how their data is stored, with only a small number of organisations moving their sensitive data into the cloud.
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