Minimize digital disruption and stay competitive with a cyber resilience strategy
Enterprises continue to make great strides in business by taking advantage of cloud-based technologies. However, without a proper cyber resiliency strategy, businesses continue to struggle with breaches and data issues.
At least, that’s the assessment of the advisory firm IDC after it recently surveyed security professionals about how their organizations are integrating technology into business processes. As these organizations quicken the pace of digital transformation, they’re simultaneously combatting risks that were previously unseen or are surfacing because of new technology.
For instance, half the surveyed security pros say they spend most of their time securing their organizations’ cloud-supported technologies. Nearly a quarter of them had suffered an Internet of Things (IoT) breach, ransomware or distributed-denial-of-service (DDoS) attack, and about 75 percent of those incidents were connected to the cloud.
But that’s not to suggest that enterprises should step away from the cloud, as IDC outlines in its latest whitepaper, “Five Key Technologies for Enabling a Cyber-Resilience Framework.” Sponsored by IBM, the whitepaper urges enterprises to continue embracing digital transformation but to also ensure they align their digital-driven business practices with the best IT security and business continuity practices. Here’s a quick rundown on why your organization should become cyber resilient.
Digital Disruption and Downtime Threatens Operations
As IDC notes, digital transformation intertwines technology with the human experience. For enterprises, that means closely connecting business applications and processes so that businesses can become agile and flexible and thus more responsive to customers and clients. Businesses will spend $1.3 trillion this year and as much as $2.1 trillion in 2020 on digital transformation, according to the report.
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But spending alone doesn’t guarantee a successful transformation. The interconnectedness of systems and a reliance on external services such as cloud and IoT will only increase the frequency and complexity of risk for enterprises that fail to prepare for disruption. More than half of the respondents in a recent IDC survey suffered a DDoS attack that lasted anywhere from five hours to a day. Ransomware attacks create significant recovery costs and interrupt critical services.
According to IDC, downtime exceeds about $200,000 per hour, although the estimate varies by company size and industry. Attacks can stay undetected for as many as 200 days, giving cybercriminals ample time to spread malware throughout an organization. All this would be enough to scare organizations from taking advantage of the cloud, IoT and other advanced technologies, but there’s no need to be fearful with the right approach to digital transformation.
Cyber Resiliency Shortens Disruptions
If organizations want to take full advantage of digital transformation — and not suffer debilitating outages and attacks — they need to implement a cyber resilience strategy that shortens the life cycle stages between detection and recovery. Cyber resilience means structuring your defense so that no event is catastrophic.
With this approach, security integrates into the business itself, rather than overlapping it, allowing your organization to become vigilant and resilient. With greater resiliency, you’ll detect and respond to threats and outages much faster and lower the costs of such incidents.
There isn’t a singular system or service that can completely create a cyber resilient environment, but there are several technologies that put businesses in the strongest position to handle disruption. As the name of the whitepaper implies, IDC details five such technologies that can help enterprises become cyber resilient.
Because of the complexities of security, it’s difficult to know if a digital environment is secure. Well-trained users, a top-notch security team, tight monitoring processes and a hardened infrastructure will certainly go a long way toward strengthening security, but no matter the level of defense, breaches and outages are inevitable. As IDC suggests, it makes sense for organizations to focus on what happens after an attack.
With potent cyberattacks making the news on a seemingly regular basis, people are well aware of which organizations are unprepared for digital disruption. An enterprise that is cyber resilient can quickly recover from attacks and secure the confidence of customers.