Cloud-based Security Solution Investment Increases, Shifts to Remote Working

Cloud based Security

The rise in remote working because of COVID-19 has resulted in increased adoption of cloud-based security tools.

There has been a significant increase in enterprise adoption of cloud-based security solutions to support employees that are working from home due to the COVID-19 pandemic, according to the latest report from Exabeam. The research is based on a survey of 131 UK-based IT security professionals from 9-11 June 2020.

Nearly 60% of companies cited data privacy as a top concern for moving security products to the cloud, while 41% said they were worried about data sovereignty. Unauthorized access, integration with tools, and service outages were some of the other concerns. According to the report, 44% of enterprises are using cloud-based security products to protect corporate financial information. Although there is an increase in the adoption of cloud-based security tools, the majority of companies still consider this movie to be risky, while nearly half think it is of high risk.

Cybersecurity Investments Hits $10.4 Billion in Q1 2020

Most organizations reported a major improvement in efforts to make sure there is better visibility into cloud-based applications.  A major improvement in monitoring and tracking of attacks along with access to the latest features are the most important gains from using cloud-based security tools, notes the report. As more companies are becoming dependent on the cloud, they are taking extra steps to improve their security posture. About 90% of companies said they roll out cloud-based security products at the right time for the business. Along with corporate financial information, cloud-based security tools are most commonly used to safeguard customer information and while sharing emails and files. While deploying cloud-based security solutions, organizations find it challenging to split between migrating the legacy- products, and replacing them with cloud-native security tools.

The major shift to cloud-based tools has put pressure on CISOs and IT leaders to address the growth of cloud-focused threats and identify gaps invisibility, protection, and the extent of their security team’s knowledge. It is essential for companies to partner with their business colleagues to communicate their needs and learn business requirements. The security teams need to know that there will be times when they have to take more risks. It is important to document these risks and understand them for future incidents.