Here we are, yet another year that is coming up! Exciting technologies, new market trends, new plans, new business, greater revenues would be the plans. The year 2020 brings in more push approach, and the focus will be greater than ever before on ‘data security‘ – it is because of the newer technologies like AI, ML maturing at a faster pace than expected, and promising regulations getting tighter, and stricter than ever.
Maintaining a good healthy IT security posture is the goal of every organization. However budget constraints, lack of proper IT security plans leaves gaps, that needs much attention. Ransomware, data breaches occur more than often, and is exponentially on the rise. Businesses are in the midst of a digital transformation pathway – the way business is conducted is different, and is fast paced, with heavy data content workloads. CTO’s and decision makers to stay ahead of this competitive environment, have to scale up their IT security setup to meet up challenges.
The coming of IOT, AI and ML are big game changers – this sentiment is reflected across industries, and domains. All these technologies are maturing, and getting deployed rapidly. Aligning with such needs, IT security vendors are also tailoring solutions to meet these demands, as security challenges will co-exist as technology evolves. Security tools like SIEM, SOAR, concept of managed SOC is ready to meet such challenges. The favourable aspects for security vendors is IOT, AI, ML is yet to be accepted in a widespread manner , thus any gaps in security solutions can be quickly filled up.
Earlier organizations did not pay much attention to security budgets, balance sheets reflected more on IT spending on infrastructure, outsourcing, and staffing costs. This is now changing, more budgets are allocated to IT security, the spending is estimated to be over 10% plus, in most organizations, driven by the scaling up with newer technologies.
Gaps in cyber skills versus IT security needs, is worrisome. Growing security needs requires skilled professionals, and security tools – supervision is necessary to oversee security holes if any. Talent pool for cybersecurity is less, and demands for such skilled people are rising, and the gap is wide. Universities,realizing this, are offering specialized courses and even some companies are offering tailored courses to meet such demands.
HIPAA, GDPR, SOX and now CCPA, and many more states have begun to roll out legislations concerning IT security. Organizations need to comply with these regulations to stay compliant. This is no longer a necessity it is now the absolute norm, to stay in business. Organizations will need to plan their IT security overall keeping this in mind.
Identity access and management (IAM) is an absolute requirement for organizations.
Data is the lifeline of business, and it is the most important asset. To secure data, IAM solutions is the best choice, with IAM offers SSO, MFA tools that secure most applications, and also can enable organizations maintain a healthy IT security posture.
Companies may begin to embrace managed SOC, the rationale behind can be seen along with the fact that someone manages your security requirements and needs, so that you can concentrate on business, added managed SOC will bring in more seasoned professionals to handle your IT security. However, this model can have flips to it, it is critical to select and work with the right service provider.
Cloud is no longer the future – it is all over the place. Organizations largely have moved to the cloud model, its reach out has extended to a multi cloud model – where in multiple cloud providers get onboard to serve.
Summing up – it is important to think, and devise a best IT security plan before jumping in. Data will be a top driver, and securing it will always be a challenge. Organizations who plan wisely will be the revenue maker, and will be a leader in the race.