The global COVID crisis has affected every aspect of the business. With stringent lockdown and social distancing in place, remote working has become the new normal. Since office spaces have shut down, demand for online collaboration tools has proliferated remarkably.
The novel coronavirus has expedited digital transformation for almost every business across the globe. Though it helps organizations stay afloat in uncertain times, it comes with a lot of risks. With the rapid adoption of remote working and increased usage of digital technology, businesses are more exposed to the greater risks of cyber-attacks. Not surprisingly, the cybersecurity landscape has become the biggest concern for chief executives around the world.
With millions of employees working remotely, organizations are at a huge advantage with the availability of digital technologies. Unfortunately, it has also led to an increase in the footprints of cyber-attacks. It becomes easier for threat actors to attack various locations. As remote working becomes the new trend, businesses must ensure that their corporate assets are safe and secure.
In these tough times, artificial intelligence (AI) and automation have been the greatest assets for businesses. Once the pandemic is under control and businesses are back to normal, there will be a huge demand for acquiring new talents and retraining the employees.
Ways cybersecurity is transforming today’s businesses landscape
Chief Information Security Officers (CISOs) are working tirelessly to introduce effective measures to ensure continuity of business operations and shield them against the current cyber threats. Since the pandemic hit, companies have taken a few measures such as patching remote systems over VPNs and keeping a track of spiking threat levels to prevent cyber-attacks before it occurs. Some of the positive impacts are mentioned below:
Businesses will not give up prioritizing short-term spending on security for employees working from remote locations. Also, they might be required to invest in e-commerce security that can be scaled in order to address increased activity. This could probably end up with businesses paying more on pay-per-seat and pay-per-megabyte licenses which could lead to a massive shift in funds from in-house systems to outsourced services.
Next-generation identity governance and privileged access controls
With strict lockdowns and social distancing in place, millions of employees are working remotely. Hence, teams managing business-critical systems need to revisit the grants for privileged access. The two biggest priorities for CISOs will be managing privileged-access and identity-governance solutions that can integrate with security information, and event management tools along with high-level security analytics to economize and cut time.
By automating routine tasks, businesses will have enough time for additional value-added activities. Managed-service providers must prepare for the increased workloads by introducing some automated services like security orchestration and automation response tooling especially for companies that heavily rely on outsourced services.
Protect Third-Parties from External Threats
While providing network access to contractors or other trusted partners, businesses must ensure that they are well protected from external threats as well because these attacks can potentially affect their own security. Companies might increase surveillance to prevent potential attacks which, in turn, increases budgets for security-risk assessments, security-reporting instruments, and click-of-a-button security rating tools.
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