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Indian companies to focus more on cybersecurity

New Delhi, May 30: With data breaches becoming more common than ever, Indian companies are gearing up to strengthen their cybersecurity infrastructure in 2018 in order to protect data of consumers, suppliers and employees, the results of a new survey of chief financial officers (CFOs) shows. Indian finance executives are likely to increase spending on travel and entertainment and invest on mobile technology, hardware and infrastructure in 2018, showed the “Global Business and Spending Outlook Survey” commissioned by American Express.

Conducted by Institutional Investor Thought Leadership Studio, the survey, which is in its 11th edition, said that 97 per cent of survey respondents from India anticipate an uptick in their companies’ headcount in the year. “India is leading the way in terms of both business confidence and investments,” said Saru Kaushal, Vice President and General Manager, Global Commercial Services, American Express Banking Corp., India. “Businesses are reiterating the need for increasing spend on travel and entertainment, optimising cash flow and using it judiciously to grow and protect the business,” she added.

The findings are based on a survey of 870 senior finance executives from companies around the world with annual revenues of $500 million or more. While one third of the Indian CFOs surveyed are likely to spend more on transportation / logistics and 53 per cent on hardware and infrastructure, half of the senior financial executives aim to increase spending on mobile technology, the results showed. (IANS)