What is cyber security?
Simply put, cyber security is protection against threats in computer systems and networks that aim to steal sensitive data or damage hardware. In an ever-changing digital world, cybersecurity is at the heart of every business and at the front of everybody's mind. Cybersecurity threats arise every day and companies and people have to continuously adapt to overcome these dangers and not fall victim to the threats.
Businesses of all sizes need to have strong cybersecurity in order to keep the sensitive data of its customers safe from a breach. If a company does not have good cybersecurity and suffers a cyber attack whereby its customers data gets leaked, this could have a detrimental impact on the company and its reputation, this could even result in the failure of the company.
Cybersecurity is important in our day to day lives as mobile phones and smart devices have become such a big part of our life. From online banking to emailing, cyber threats are always prevalent.
Whilst many companies should have strong cyber security, you can't always rely on that and you need to take actions to protect your data from hackers. Some things that you can do to protect yourself is to use strong passwords (which are different for different platforms), do not open attachments in emails from senders that you do not know, avoid using unsecured WiFi networks and finally, update your software and operating systems regularly so you benefit from the latest levels of security.
In July's magazine, we counted down the world’s top ten cybersecurity companies, with the results being; One Identity, Absolute Software, Deep Instinct, Kount, Centrify, Infoblox, Mimecast, Blackberry, FireEye and Crowdstrike. Read the full list and find out more about each company below.
IT Employees Predict 90% Increase in Cloud Security Spending
As companies get back on their feet post-pandemic, they’re going all-in on cloud applications. In a recent report by Devo Technology titled “Beyond Cloud Adoption: How to Embrace the Cloud for Security and Business Benefits”, 81% of the 500 IT and security team members surveyed said that COVID accelerated their cloud timelines. More than half of the top-performing businesses reported gains in visibility. In fact, the cloud now outnumbers on-premise solutions at a 3:1 ratio.
But the benefits are accompanied by significant cybersecurity risks, as cloud infrastructure is more complex than legacy systems. Let’s dive in.
Why Are Cloud Platforms Taking Over?
According to Forrester, the public cloud infrastructure market could grow 28% over the next year, up to US$113.1bn. Companies shifting to remote work and decentralised workplaces find it easy to store and access information, especially as networks start to share more and more supply chain and enterprise information—think risk mitigation platforms and ESG ratings.
Here’s the catch: when you shift to the cloud, you choose a more complex system, which often requires cloud-native platforms for network security. In other words, you can’t stop halfway. ‘Only cloud-native platforms can keep up with [the cloud’s] speed and complexity” and ultimately increase visibility and control’, said Douglas Murray, CEO at cloud security provider Valtix.
Here’s a quick list of the top cloud security companies, as ranked by Software Testing Help:
What are the Security Issues?
Here’s the bad news. According to Accenture, less than 40% of companies have achieved the full value they expected on their cloud investments. All-in greater complexity has forced companies to spend more to hire skilled tech workers, analyse security data, and manage new cybersecurity threats.
The two main issues are (1) a lack of familiarity with cloud systems and (2) challenges with shifting legacy security systems to new platforms. Out of the 500 IT employees from Devo Technology’s cloud report, for example, 80% said they’d sorted 40% more security data, suffered from a lack of cloud security training, and experienced a 60% increase in cybersecurity threats.
How Will Companies React?
They certainly won’t stop investing in cloud platforms. Out of the 500 enterprise-level companies that Devo Technology talked to throughout North America and Western Europe, 90% anticipated a jump in cloud security spending in 2021. They’ll throw money at automating security processes and investing in security upskilling programmes.
After all, company executives will find it incredibly difficult to stick with legacy systems when some cloud-centred companies have found success. Since moving from Security Information and Event Management (SIEM) offerings to the cloud, Accenture has saved up to 70% on its processes; recently, the company announced that it would invest US$3bn to help its clients ‘realise the cloud’s business value, speed, cost, talent, and innovation benefits’.
The company stated: ‘Security is often seen as the biggest inhibitor to a cloud-first journey—but in reality, it can be its greatest accelerator’.