Four out of five businesses lack the required infrastructure or security professionals with relevant skills to spot and defend against incoming cyberattacks.
According to a new report by US cybersecurity and privacy think tank Ponemon Institute, 79 percent of cybersecurity professionals say that their organisations are struggling to monitor the internet for the external threats posed by hackers and cybercriminals.
Just 17 percent of respondents say that they have any sort of formal process in place for intelligence gathering which is applied across the whole company.
The report suggests that 38 percent of organisations don't have any policy on threat intelligence gathering at all, while 23 percent suggest their approach is "ad hoc"at best and 18 percent say they do have a formal process in place, but it isn't applied across the entire enterprise.
The Ponemon Institute claimed that businesses are on average experiencing more than one external cyberattack a month, with these repeated security breaches resulting in an annual average cost of around $3.5m.