Technology Optimization: The Resource Efficient Weapon Against Cyber-Attacks in the New Normal

By Jiten Bhalgama & Davis Rajan

By Jiten Bhalgama & Davis Rajan

Work-from-home and digitization are the norms in the post-COVID world. Under these new circumstances, where millions of people are remote working and many more business processes are being digitized, there has also been a huge rise in cyber-attacks. In a single month, cyber attackers recently targeted Twitter, Tesla, the New Zealand stock exchange, and the Canadian government services. The number and scope of cyber-attacks in the past few months are unprecedented, and so is the economic cost.

Cyber attackers are on the prowl and hunting for the one single weakness or loophole in the system that they can exploit. Cyber-attacks are becoming increasingly sophisticated and targeting sensitive personal and business data. Simultaneous attacks are originating from multiple adversaries in an attempt to inflict maximum damage. This has been witnessed when flight booking systems are disrupted or when health information systems are hit. In such situations, saying that businesses need to be ready to defend themselves and their digital assets against cyber attackers is stating the obvious. The bigger and more pertinent question is how.

In traditional warfare, one does not just need powerful weapons, but also the knowhow to utilize the weapons, and the capacity to effectively preempt the enemy’s next move. Similarly, in cyber warfare, the need is to have the right equipment and the right strategy to keep the cyber attackers at bay.

Having an effective safety shield against cyber attackers is extremely critical, especially in the United States where adoption and dependence of technology are high. Many companies have adopted technology for the digitization of business processes, including the latest Robotic Process Automation  (RPA) and Industry 4.0. However, we believe that this puts them at an even higher risk.

Corporate leaders share our concerns. Research indicates that only 10-12% of the financial services companies believe that their information security systems are adequate to meet their need, but a staggering 70% are not equipped to meet the cybersecurity challenges. Financial services executives are already depressingly familiar with the impact that cyber-threats have had on their industry. In PwC’s 19th Annual Global CEO Survey, 69% of financial services’ CEOs reported that they are either somewhat or extremely concerned about cyber-threats, compared to 61% of CEOs across all sectors.

Setting up firewalls, routers, switches and other devices configured to minimize risk and to comply with security policies is time-consuming and costly for many companies. The preferable alternative is technology optimization, which allows complete integration of tools and systems in the appropriate security mechanism. In layman terms, a health checkup of the systems used and technology applied. Optimization can fine-tune the existing solutions and rev them up for full utilization and efficiency in terms of cybersecurity defense.

Integrated Risk Management, Asset Security, Network Security, Identity Access Management, Cloud Security, Operational Technology/Internet of Things Security, Application Security, and Infrastructure Security and other systems across the landscape can be optimized. The optimization strategy not only allows companies to save on costs that would otherwise have been required towards a cybersecurity shield, which could be even unaffordable for many but also creates the reserve energy to take on the cyber adversaries 24x7.

The post-COVID situation has been described, and correctly, as the ‘New Normal’. The cyber attackers are here to stay too. What we can do is to put in place adequate safeguards to keep them at bay.

About the Authors:

Jiten Bhalgama is Co-founder and Director of Technology Optimization Center (TOC) at Infopercept Consulting, a Global Managed Security Services provider with a presence in Asia, Africa, the Middle East, and the United States. 

Davis Rajan is mainly associated with ensuring the timely delivery & quality of the services assured to the customer. Ensuring utmost professionalism & delivery quality services with the aim to nurture & maintain a long-term professional relationship based on customer satisfaction.

WEBINAR ALERT:

For more insights on fighting cyber-attacks in the new normal, we cordially invite interested readers to attend a panel discussion on Cybersecurity: How to Win the Digital War hosted by Infopercept Consulting on September 25, 2020. Dr. Lopa Mudraa (Chief Information Security Officer at Nissan Motors) and Arun Desouza (CISO at Nexteer Automotive) will discuss the impact of COVID-19 on security operations, imminent security challenges, future proof security operation plans, and other critical issues with Jaydeep Ruparelia, Co-founder of Infopercept Consulting. For more details, click here.

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