This year Blu5 Group presence at ITASEC2021 is marked by a vision speech on cyber-resilience: is investing growing security budgets improving your cyber-resilience?
With the continuous rise in data breach numbers and digital transformation efforts, exposing enterprises to new cybersecurity risks across business industries, never before have companies and government institutions been investing so much money in cyber security, both in terms of technology and human resources.
Analysts are predicting years of growth in security spending, worldwide. Back in 2018, worldwide spending on information security products and services exceeded $114 billion, an increase of 12.4% from 2017 [1]. Gartner forecast a five-year annual growth rate of 8.5% to reach $170.4 billion in 2022 [2]. Despite this trend, however, the bad guys are growing stronger. More than 20 data breaches were reported per day in the first half of 2019 [3].
So, why are increased investments in cyber security not enough to hinder the surge of cyberattacks? Money is not the only resource a business has available to enhance its cyber security posture. Effective investments have to be based on the understanding of the organization’s security priorities.
The key is to determine and provide the right amount of protection, at a reasonable cost, without significantly compromising business operations or culture.
In our daily work of providing ICT and cyber security solutions to businesses in a wide range of industries, including defense, banking and finance, energy and telecommunications, we have identified a number of actions that executives can take to slim down security budgets while improving security. They include the following:
Eliminate Complexity
Fall in love with simplicity! Try to resist the temptation to implement the many cyber security products available on the market. Get rid of unused software and tools and revise your security best practice, which may not be adequate for the coming future challenges.
Increase visibility and control over your IT eco-system
The company staff and ecosystem are often one of the weakest links in the cybersecurity chain. Besides, Security officers lack visibility into their eco-system security processes. The key is implementing a secure network access strategy where there is no implicit trust but rather a level of trust calculated on an initial assessment of the identity, the system and the context, regardless of whether entities are inside or outside of the company perimeter.
Implement automation
Automation is the cornerstone strategy to focus on increased network agility and reliability while controlling operational expenditure (OpEx) anc capital expenditure (CapEx). To improve operational efficiency both of IT teams and end-users, organizations can automate routine and complex that may be time-consuming, repetitive, or error prone.
Blu5 is proposing an alternative approach to threat detection and prevention: SEdesk Secure Unified Workspace. With simplicity at its core and ROI as continuous destination, we support businesses in their digitization challenges to improve cost efficiency without sacrificing security.
References:
[1] Gartner: Forecasts Worldwide Information Security Spending to Exceed $124 Billion in 2019
[2] Gartner: Forecast Analysis: Information Security, Worldwide, 2Q18 Update
[3] Risk Based Security: 2019 on Track to Being the “Worst year on Record” for Breach Activity
HALL: S3
STAND: C44