Key management was a major issue for respondents, with organisations planning to spend on average 33 per cent of their total encryption budget on key management solutions. More than half (51 per cent) expect their key management investments to reduce the overall operational costs of enterprise data protection.
The annual study involved nearly 650 UK-based IT and business managers, analysts and executives. It was commissioned by encryption vendor PGP Corporation, and conducted by the Ponemon Institute.
Recent research conducted by the Ponemon Institute found the cost of a data breach in the UK to average £47 per record compromised or an average total of £1.4 million per breach.