Rewind a decade or so. Only the big guns, government organisations, financial institutions, were generating truckloads of data. They were the ones with bullseyes on their backs, at risk of losing data, or worse, having it stolen. Well, times have changed. The explosion of eCommerce means every business, large and small, generates tons of data every single day. That's like throwing a massive party, and the cyber criminals are gate crashing on the daily.
Our data passes through an intricate network of siloed and centralised systems. But without some serious defences, these software and hardware systems are a playground for vulnerabilities. Remember the NotPetya attack of 2017 or the Meltdown and Spectre attack of 2018? Those were wake-up calls. Now, everyone from the tech guy in the basement to top-level execs are scratching their heads, wondering how we can up our cybersecurity game.
Sitting back and hoping for the best? This is no longer an option; it is high time we faced cyberattacks with a fresh stance. So, grab a coffee and buckle up and see what The Beer Farmers have to say about how we need to shake up cybersecurity.
The Hamster Wheel of Cybersecurity
We keep hearing that cybersecurity is evolving, however if you dig a little deeper, under the surface many of us are running just like hamsters in a wheel. There is so much talk and sadly not a lot of action much of the time. We keep seeing vendors with their one size fits all solutions, this is not the case. There needs to be a clear understanding of the threats each organisation are facing and make a game plan suited to them.
According to Statista, we've shelled out a staggering $4.35 million on cybersecurity globally. That's set to skyrocket to over $188 billion by 2023. So, it is not like we're not putting our money where our mouths are. But this stuff is way more complex than just installing the latest malware detection software.
Here is the real crux of it, your company doesn't have to be the prime target to take a hit. You could be collateral damage, losing time, money, and reputation in the process. What's worse, most businesses need around three months to spot a covert attack. This is not good enough and needs to change quickly.
The Cyber Solutions that Actually Work
Here is the thing, complacency is a dangerous game, lots of businesses think having the latest malware detection software or firewall is their golden ticket to cybersecurity. However, they are missing a critical factor and not thinking about all the third-party suppliers who have access to their essential data and Intellectual Property (IP).
We used to use Non-Disclosure Agreements (NDAs), this is not cutting it anymore and neither should it. The recent Clop breach shows this and if you want to thrive in the eCommerce landscape, you have quite simply got to up your game. So, having said that let's break down the common pitfalls and suggest some fresh approaches to cybersecurity.
Cyber Space: Not All Sunshine and Rainbows
As we put significant effort into improving our cybersecurity, it is crucial to remember that cybercriminals are not idle either. Their determination matches ours, resulting in a perpetually challenging landscape. The elements that frequently exacerbate the situation are over-reliance on IT delegation, the misconception that cybersecurity issues can be solved solely with financial investment, and the overemphasis on compliance at the expense of other crucial security aspects.
A New Approach
As we stride towards an era of unprecedented connectivity, top-level management needs to team up and get serious about data breaches. We believe cybersecurity isn't just a tech issue—it's a question of efficient risk management. Cyber risk mitigation is crucial at all levels, and being adaptable is key. As cyber risk becomes an everyday reality, it is high time companies opted for a collaborative approach.
How a company reinvents its cybersecurity will depend on its key vulnerabilities. Whether it's giving more power to the CISO for cyber-risk awareness, implementing robust business continuity management, or tackling vendor risk, it's time for companies to step up their game.
Finally
Imagine a future where dealing with cybersecurity is not a constant struggle but just another part of business, as routine as balancing the books. This may seem like wishful thinking, but we in this industry are fully committed to taking on the vast challenges that come with providing cloud services and cybersecurity to all sorts of industries.
No matter if you are a small start-up finding your feet, or a big corporation with an established reputation, the perks of advanced cloud and cybersecurity technologies are now at your disposal. It's a chance for all businesses, big and small, to operate with less fear and more freedom.
Let's look forward to a future where business is both safer and smarter. It is a future we are ready to embrace, a future we are ready to shape. Here's to a safer, smarter way of doing business.
Follow The Beer Farmers on Social Media:
Twitter: @Thebeerfarmers
LinkedIn: The Beer Farmers
