Threat detection and prevention – a must-have

The costs associated with security breaches amount to billions, or even trillions of euro every year, and the figures keep rising due to the proliferation of digital technologies and channels, which create more and more backdoors and vulnerabilities for cyber criminals. As cyber threats are constantly and rapidly expanding their reach, all industries are under pressure, especially given the current pandemic. Switching to remote working environments and moving VPN connections and workstations to home offices has drastically increased exposure to cyber-crime. For this reason, enterprises, now more than ever, need threat detection technologies.

As part of our annual CXO survey, for which we conduct interviews with thousands of user companies to inquire about their investment priorities in different technology areas, the tendency towards cyber security-related topics was confirmed by the answers coming from IT and business line managers.

It is pretty clear that the trend towards digital transformation is leading to increased concerns about cyber security as a prerequisite for modernizing enterprise infrastructures and applications, and redesigning core processes to adapt to digital architectures. Private and hybrid cloud infrastructures, mobility, and Internet of Things (IoT) are unarguably the most exposed areas, where threat detection and response mechanisms have to be implemented without any delay.

A more in-depth look into the status quo of enterprise cyber security reveals that there are multiple factors which make the implementation of threat detection tools and procedures, and the continuous monitoring of workflows rather complex. Most of the enterprises surveyed stated several obstacles to adopting a proper cyber security framework; the most important are as follows:

  • Lack of discipline among employees to avoid cyber security breaches;
  • Omni-channel business (web, mobile platforms) increases risk exposure and makes threat detection more difficult;
  • The cost of cyber security staff and the overall scarcity of such talent on the labor market;
  • Domain-specific changes in regulations that lead to process realignment and customization.

As the number of endpoint devices keeps increasing, migration to IaaS and SaaS is accelerating. While 5G technologies allow for new levels of connectivity, the current cyber security strategies have to evolve and include dedicated cyber monitoring tools, as well as the option of contracting third-party services from SOC (security operations center) providers that are able to take over certain parts, or even all cyber defense operations. In addition, it is crucial for the overall cyber security strategy and responsibility to remain within the organization, regardless of the level of engagement of the SOC partner.

For more details, please check out our new InBrief report.