The State of Trust Report 2023

We surveyed 2,500 business and IT leaders globally to uncover the key trends shaping security and compliance. Find out the top barriers to improving — and proving security — and how AI and automation are transforming trust.

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Businesses face an urgent need to improve security

Over two-thirds (67%) of business and IT leaders say that their organization needs to improve security and compliance measures. 1 in 4 (24%) rate their organization’s security and compliance strategy as reactive, with larger companies feeling this more than smaller ones.


The average percentage of IT budgets 
dedicated to security is just 9%


But lack of staffing and
budget hamper security efforts

The biggest barriers to proving and demonstrating security externally are a lack of staffing (33%) and automation to replace manual work (32%). In addition, the average percentage of IT budgets dedicated to security is just 9%.

Customers want more proof 
and transparency than ever

Two-thirds (66%) of businesses say that customers, investors, and suppliers are increasingly looking for proof of security and compliance but over 1 in 8 admit they don't or can’t provide evidence when asked.

How do you demonstrate your security to customers or third parties when they ask for proof?
Providing an internal audit report
Providing third-party audit reports
Completing security questionnaires
Providing an internal dashboard
Providing self-attestation reports
We don’t provide proof

Better security builds trust

70% of leaders say that a better security and compliance strategy positively impacts their businesses thanks to stronger customer trust and improved reputation (43%).

96 hours
a year could be saved through automation

The power of automated security and compliance

When deployed as part of a broader trust management strategy, automation can accelerate security and compliance. On average, teams could save at least 2 hours per week on security and compliance tasks if processes were automated.

When done right,
AI can transform trust

77% of businesses already use or plan to use AI/ML to detect high risk actions. The biggest transformational potential for AI will be improving the accuracy of security questionnaire responses (44%), eliminating manual work (42%), streamlining vendor risk reviews and onboarding (37%), and reducing the need for large teams (34%).

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global insights

Get your free copy of the State of Trust Report for more findings on the challenges and opportunities facing IT and business leaders today.

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