Cybersecurity no longer top risk for telecoms industry
July 2018 by Marc Jacob
BDO’s new 2018 telecommunications risk report indicates that cyber security is this year ranked lower as a risk by telecommunications companies.
The survey is survey carried out yearly across 60 major telecoms companies worldwide, the 3 most important:
1. Cyber attacks: ‘we’ll deal with it’ attitude ? - Perceived risk from cyber threats falls back to #7 in the risk top 10 after it had jumped up 23% last year, when 39% of executives were concerned after the Ransomware and Petya attacks. At the same time, perceived risk from regulation and litigation has dropped from the risk top 5, ranked now 6th by telco executives - except in the USA where it remains a top concern.
2. No longer technology disruption but competition is now top concern – Concerns about disruption from new technologies such as Whatsapp and Instagram drop from 2nd to 3rd place in BDO’s global risk top 5, and are replaced at #2 by apprehension about increased competition pressure: executives report 2x more often than last year risks associated with keeping and growing market share.
3. Profitability concerns are reported 3x times more often than in 2017. The perceived risk from saturation/decline of the telecoms market is up by 80%. After telecommunications giants have dug deep into their pockets to innovate and ward off technology debt, they want to see return and profitability.
Download the report here: https://global-www.bdo.global/getme...