Despite the fact that enterprise cybersecurity investment has surged dramatically in recent years, businesses still feel less secure. As a result, it’s critical to rethink enterprise cybersecurity architectures and implement more holistic security models.
Digital transformation and innovation will account for half of all IT spending by 2024, according to IDC FutureScape: Worldwide IT Industry 2020 Predictions. Digitally transformed businesses will account for half of global GDP by 2023.
This indicates a rapidly growing trend in IT innovation, and it is only prudent that each new evolution of business operations be accompanied by cybersecurity transformation. After all, even non-IT-focused businesses today face the fact that a company is only as successful as it is secure.
More importantly, the industry is already seeing some of technology’s transformative impacts, especially because COVID-19 has driven many organizations to embrace more mobile and distributed workforces. However, it is well understood that cybersecurity threats are dynamic, changing their nature in response to new technology.
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The Need for Cybersecurity Transformation
Businesses cannot afford to cling to legacy cybersecurity strategies in order to compete in today’s and tomorrow’s business worlds. The goal, however, is not to relinquish the technical controls that have ensured company cyber-security for years. While traditional measures, including antivirus software, firewalls, and IPS, are still useful, they must be integrated into the organization’s broader cybersecurity program rather than operating in silos.
To begin, businesses must take a new approach to cybersecurity investment. There’s plenty of evidence that more money doesn’t always equal better protection. According to Accenture’s State of Cybersecurity Resilience 2021 report, 82 percent of business leaders said their cybersecurity spending has increased since 2020. Despite this, the average number of attacks per organization has increased by 31% year over year.
This isn’t just a coincidence. The business world has shifted from infrastructure-centric to data-centric over time. Budgets for cybersecurity must also reflect this shift. Enterprises can better assess the actual costs and impact of their cybersecurity efforts by focusing on data rather than infrastructure protection solutions.
Because cybersecurity teams can only defend against attacks that they can see, more spending does not ensure protection. Unseen attacks, on the other hand, are more real, with zero-day attacks leading the way.
Organizations must take a more offensive strategy to traditionally defensive cybersecurity in light of these escalating attacks. Because cyber-threats are continually evolving, active protection is required to keep one step ahead of the game.
It combines a variety of technologies, including big data, advanced analytics, and machine learning, to find hidden risks in the massive amounts of data generated from hundreds of thousands of systems. It continuously scans, detects, and responds to emerging risks using a combination of human analysts and automated algorithms. In essence, active defense entails focusing on every possible attack vector before it becomes dangerous.
It’s important to remember, nevertheless, that the strength of an active defense approach is a continuous, comprehensive assessment of cyber-risks and security awareness. This necessitates the use of cyber-risk quantification (CRQ).
Organizations must begin with a thorough assessment of their present condition and threat profile, and then develop a metrics-based improvement strategy. Quantification leads to understanding, which can help companies in putting in place defenses against cyber-attacks and developing plans for safeguarding their most valuable assets – data, reputation, intellectual property, and bottom line.
Businesses can channel their best efforts toward the most pressing concerns by assessing the probability and effect of probable incidents.
Clearly, cybersecurity is no longer simply about the technology utilized, but also about how to foster a cyber-defense culture within a company and link its goals with the company’s overall business goals.
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