Digital businesses cannot let slow technology delivery get in the way of business innovation, so they are scrambling to adopt agile development, cloud computing.
The world was already undergoing tremendous digital transformation and the outbreak of the pandemic accelerated its journey. Even before the advent of a global pandemic, companies have faced a challenging and dynamic environment as they sought to protect their institutions from cyberattack, without degrading their ability to innovate and extract value from technology investments. Business and IT functions have had to think through how to protect increasingly valuable digital assets, how to assess threats related to an increasingly fraught geopolitical environment, how to meet increasingly stringent customer and regulatory expectations and how to navigate disruptions to existing cybersecurity models as companies adopt agile development and cloud computing.
Thoughts around threat landscapes commonly prioritize corporate and governmental networks assets as high priorities, with personal networks and resources as lower-level threats. However, there have been recent changes that have caused the reassessment of prioritization levels at times.
According to a survey finding – one in two corporates in India have a digital transformation strategy in place. The rapid digitization in the industry and increased mobility have presented countless benefits for progress.
For digital businesses – and almost every company we know of aspires to be a digital business – cybersecurity is an important driver of product value proposition, customer experience and supply chain configuration. Digital businesses need, for example, design security into IoT products, build secure and convenient customer interaction processes and create digital value chains that protect customer data.
Digital businesses cannot let slow technology delivery get in the way of business innovation, so they are scrambling to adopt agile development, cloud computing. However, most companies have built their security architectures and processes to support waterfall development and on-premises infrastructure – creating a disconnect that can both increase risk and decelerate innovation.
Businesses are adopting new-age technologies such as the Internet of Things (IoT), Artificial Intelligence, Machine Learning, Blockchain, Cloud computing, etc to streamline their workflows. However, it has increased the vulnerability and risk of cyber-attacks. Though there is a positive technological boom due to the adoption of these technologies, the concerns on privacy and security of business systems have also increased.
The sudden shift to enable entire workforces to work remotely has raised the stakes, the number of challenges related to data protection also increased dramatically. As per the recent statistics – more than 1.1 million cyberattacks were reported across India in 2020. This clearly states the need to setup robust cybersecurity measures.
Organisations are looking ahead at how their teams operate and how they protect employees and assets. It’s critical, therefore, to stay current on emerging threats and, most importantly, how threat protection is evolving to help keep organisations secure.
Considering the vulnerable scenario of cyberspace, many cybersecurity platforms have emerged to prevent, detect and respond to cyber threats. These platforms are equipped with security tools that create robust security infrastructure for companies. Understanding today’s threat landscape is censoriousto building strategies and solutions to set up a strong cybersecurity framework. The adoption of new innovations creates an environment where threat landscapes can change quickly
Strengthening security infrastructure in cyberspace
Cyberattacks have become more sophisticated than before. The first step that business organizations must take in order to ensure security is to assess risks and how they can be managed. Depending upon the size and industry, organizations should create a robust strategy to strengthen their cyber security infrastructure.
Working in cyberspace includes blind spots in security. Managing threats with high-risk vulnerability are the topmost priority for organizations. To identify and protect against these threats, cybersecurity platforms enhanced by Artificial Intelligence make robust threat management systems to encounter sophisticated cyber-attacks. These platforms emphasize an integrated approach to fighting cybercrime. They help companies in identifying, prioritizing and acting on threats at the most relevant time.
Identity management and access control A legally compliant and safe digital customer experience is the need of the hour for every business. To keep the system’s data secure, identity management and access control work as a discipline to verify users’ identities before granting any access to workplace systems and information. For instance, when a user enters their username or password, PIN or scans their fingerprint to make an online transaction, their identity goes through distinct layers of authentication and verification. Thus, modern cybersecurity platforms help in mitigating risks with identity management and access control.
Security for the remote workforce
The outbreak of the pandemic has resulted in a paradigm shift from physical workspaces to remote working. Further, advancements in communication and technology have made companies deploy virtual tools and embrace the benefits of remote working. This requires every organization to use a strongly secured network to defend the remote workforce from cyberattacks. With an increased workforce working from home, cyber attackers constantly look for loopholes in an organization’s security system. Thus, cybersecurity platforms help businesses setup a system to ensure the safety of confidential information while training and making the remote workforce aware.
User behaviour analytics
Just like anti-virus software is installed to scan files and keep track of viruses attacking the system, user behaviour analytics focuses on user’s activity to protect data and prevent breaches. For instance, constantly scanning the most critical files accessed to know the pattern of usage indicating anomalous behaviour. Considering the uncertain scenario, cybersecurity platforms leverage the potential of data to gather insights in identifying unknown threats.
Secure cloud computing
Business organizations are prioritizing the security of their cloud systems. According to the estimates – around 61% of businesses have migrated their workloads to the cloud in 2020. Additionally, spending on enterprise cloud computing will make up 14% of the IT revenue globally by 2024. This presented an unprecedented need to develop a secured cloud computing infrastructure. Cybersecurity platforms use strong practices to prevent unauthorized access to keep data and applications safe from potential threats and cyberattacks.
In order to keep pace with the modern economy, organizations need to place a resilient cyber security infrastructure. The rampant migration from conventional businesses operations to online systems leads to data exposure and potential cyberattacks. While companies have a strong security infrastructure in place, it is worth associating with cybersecurity platforms to mitigate risks.
Source: Business World