As the executive team reviews productivity, profitabilty and collaboration in the organization, email is at the center point of most interactions. But is it the right choice for the future? Email has already been dubbed a productivity-killer and dead by many. Add to that an excess of vulnerabilites but maybe there is another angle - vulnerability that should make organizations consider if email shall be the primary communications tool.
Collaboration is expensive - the average knowledge worker spends 4.1 hours on emails per day, according to the Washington Post. This means that half of staff costs go into collaborating with others
Communication is risky - 91% of cyber attacks start with an email, according to Barracuda Networks
The content is often waste - Today, 75% of the worlds emails are spam, according to Symantec
Humans are the weak link - 93% of employees cannot recognize a sophisticated phishing email
Cyber criminals exploit that - more than $12.5 billion in losses were caused by Business Email Compromise (BEC, A sophisticated scam targeting both businesses and individuals performing wire transfer payment) sover the past 4.5 years, according to the FBI
Analysts highlight the key problem - Prioritizing the protection from people-based attacks is the number one recommendation from Accenture in their latest cybercrime study
Insurance gets more costly - cyber insurance is the fastes growing insurance market with 23% CAGR according to Gartner
The story line is pretty clear. Emails as a work tool today hold too many cyber risks that companies are being exposed to. Is it still the right primary tool for the future? No operational executive would accept such a vulnerable and open system on which half of your total production is running on. Especially not when the risk of succesful phishing is at 93% with a derivative cost growing at +20% year over year through insurance.
Right now email is still the only truly federated tool in the market for communication. The future requires more security while also being able to extend the efficient commucaition to customers, partners and consultants. The new workforce is accustomed to a new style of working. More mobile, more efficient and more instant. Something that they have come accustomed to through privately used tools, and something that email cannot fulfil.
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