Does Cyber Security Escalate Business Risks – Including Resilience?

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cyber resilience

The increasing volume of cyber threats, coupled with the shortage of cybersecurity talent, has pushed forward the need to re-evaluate the cybersecurity framework of enterprises, to build a flexible centralized threat detection and response system.

Along with cybersecurity adoption, the threat detection and response systems need to be developed so that they can automate, scale, and extend visibility to the workforce to build a more resilient business that is sized to fit the future changes.

The pandemic is accelerating the digitization process of enterprises as all the work and training processes move online – further escalating the cyber and digital risks. The next phase of the pandemic will turn into a more critical period as companies prepare for the “next to normal” in the cybersecurity landscape.

The adoption of staggered shifts and comparatively more open policy towards flexible work arrangements will flourish as the economy re-opens, leading to a more complex threat landscape for many businesses.

There has been an uptick in cybercriminal threats witnessed majorly in certain sectors, including healthcare, banking, and e-commerce. More number of phishing attacks, stolen credentials, and attempted credit card frauds have occurred worldwide, as cybercriminals took advantage of the business disruption and the resultant sudden pivot to remote work.

In addition to the efforts to protect the remote workforce and myriad cloud networks, applications, and devices used, security teams need to combat the newly evolved compromised digital assets. These compromised digital assets include all risks that the workers may accumulate and bring back with themselves into the company’s network and systems as they return to their offices.

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With the expanding volume of threats and a shortage of cybersecurity talent, vendors will have to help their customers in re-evaluating their cybersecurity framework to build a centralized threat detection and response system. They will need this to scale, automate, and extend visibility to the workforce, and use it to build a more flexible business that is fit for the future.

In the last couple of months, with the surge in distributed workforces, and the accelerated pace of digital transformation of every sector, it’s evident that cybersecurity has created probable business risks, including flexibility issues.

It is important to apply the insights learned during this transition to maintain business continuity, adapt the supply and distribution chains, and build future resiliency.

Organizations need to reassess what credentials and data are required to perform these new tasks. They also need to ensure that the access employees have, using VPN, are well-secured through strong authentication.

They also need complete network visibility to close the existing gaps as a result of an influx of new threats, which is extremely common whenever there is business disruption.

Read More: Remote Working Norms to Persist Even After the COVID-19 Threat

The biggest innovation from the migration to remote working is the mindset change across industries. Over the past few years, industries have finally moved away from thinking of cybersecurity, and managing risk in purely technical terms to embracing the need to take a multifaceted approach encompassing – business needs, psychological factors, project management, and seamless communications. This mindset shift is critical to reinforce the need to tap into a diverse set of skills.

The true definition of success in the current scenario is not to simply eradicate the virus but bending the curve – to bring in cyber resilience instead of mere cybersecurity.