At a time when cyber attacks are on the rise, nearly three quarters of global organisations (73 per cent) cannot identify these and protect their corporate assets and processes, a new report said on Friday.
According to the 'Accenture Security Index', only one in three organisations (34 per cent) has the ability required to monitor for threats to critical parts of their businesses.
"While organisations have improved their security over the last few years, progress has not kept pace with the sophistication of highly motivated attackers," Kelly Bissell, Managing Director of Accenture Security, said in a statement.
The results, analysed in collaboration with Oxford Economics, said that globally, an average organisation has high performance in 11 of the 33 cyber security capabilities that were analysed.
"A new approach is clearly needed that protects the organisation from the inside out and across the entire industry value chain – from the wellhead to the oil pump," Bissell added.
At the top end of the scale, only nine per cent of the organisations managed to achieve high performance in more than 25 of the 33 cybersecurity capabilities.
Britain ranked highest overall for cooperation with third-parties during crisis management (52 per cent) and communication of cyber incidents as part of business alignment (55 per cent).
While banking firms have highest performance in eight capabilities, high technology companies rank highest in seven capabilities.