The Cybersecurity Scene Over the Last 3 Years: Ways Businesses Are Changing and Succeeding

Written by Abel E. Molina, Principal Architect in Design Studio, Softchoice.

Introduction

Consider the following challenge: You are presented by your leaders to tear down and remodel a cruise ship, while keeping the overall structure intact. Where do you begin? Which team/partners would you involve? What timeline would you anticipate for completion? This task might seem overwhelming, but it is equivalent to what companies are currently facing. They must overhaul their extensive security framework while ensuring that their operations continue smoothly and with speedy execution.

Cybersecurity is one of the most pressing challenges for enterprises in the digital age. Globally, there are approximately 2,220 cyberattacks each day, totaling over 800,000 attacks annually. These attacks span various types, including phishing scams, personal data breaches, and more. The consequences of cyberattacks are not only financial, but also reputational, operational, and legal. As attacks become more complex and targeted, organizations must invest in robust defenses and proactive measures to protect their assets, customers, and partners.

In this blog, we will explore how the cybersecurity landscape has evolved in the past 3 years, and how enterprises are adapting and thriving in the face of new threats and opportunities. We will also highlight how enterprises can leverage their trusted partners to enhance their cybersecurity capabilities and resilience.

Evolution of Cybersecurity Strategy

Look back at your routines from 3 years ago and you'll notice changes, a natural response to our ever-changing environment. Just like individuals, companies have had to adapt their operations, particularly in cybersecurity which has grown beyond a mere IT issue into an essential element of business strategy and governance. Today's leaders, including CISOs and CEOs, bear the responsibility for cyber defense and recovery, integrating cybersecurity with business objectives, risk tolerances, and the demands of stakeholders, while also maintaining transparent communication about their cybersecurity stance and effectiveness with boards, regulators, consumers, and associates.

To achieve this, enterprises need to adopt a holistic and integrated approach to cybersecurity. This means embedding cybersecurity into every aspect of their business processes, culture, and innovation. It also means adopting a risk-based and threat-informed mindset, rather than a compliance-driven and reactive one. Enterprises need to anticipate and prepare for emerging threats, rather than just respond to them. They need to continuously monitor and measure their cybersecurity performance, and adjust their strategies and tactics accordingly.

For example, one of the leading financial institutions has implemented a comprehensive cybersecurity framework that aligns with its business strategy and risk profile. The framework covers six domains: governance, risk management, asset management, threat management, vulnerability management, and incident management. The framework also defines roles and responsibilities, policies and standards, metrics and reporting, and continuous improvement. The institution has also established a cybersecurity steering committee, chaired by the CEO, that oversees the implementation and review of the framework.

Collaboration and Shared Responsibility

In today's cybersecurity world, there's a trend towards dispersed, cooperative security practices. Businesses are moving from isolated security departments to involving everyone in security by making it a shared task within applications teams and business units, while also increasing security awareness throughout their organizations. Additionally, they're engaging with the wider cybersecurity community, exchanging insights and coordinating on threat intelligence and incident reactions with industry groups, government, academia, and trusted partners like vendors and consultants. This approach enhances overall security effectiveness and builds a stronger, collaborative defense network.

For instance, one of the largest online retailers has adopted a DevSecOps model that integrates security into every stage of its software development lifecycle. The model enables the application teams to incorporate security best practices, tools, and testing into their code, design, and deployment. The model also fosters a culture of security ownership and accountability among the developers, testers, and operators. The retailer has also partnered with a leading security vendor to provide cloud-based security solutions and services, such as identity and access management, encryption, and threat detection.

Conclusion

Over the last three years, the cybersecurity realm has been diverse and demanding, yet ripe with chances for inventive breakthroughs. Companies have displayed impressive flexibility and resistance against emerging security risks. Moreover, they've advanced significantly in their cybersecurity approaches, procedures, and collaborations. Enterprises engaging with reliable partners gain access to cutting-edge technology, specialized skills, and robust solutions that bolster their cyber defense and proficiency. Additionally, they can leverage shared knowledge within the cybersecurity world, adding to the overall digital society's welfare.

About the Author

Abel E. Molina is a Principal Architect in Design Studio at Softchoice. He has over 19 years of experience in the IT industry, specializing in security, cloud, hybrid, and server solutions. He has worked in several roles as an IT consultant engineer, a security engineer, a solutions architect, and a subject matter expert for Microsoft. His dedication to security and zero trust principles has made him an invaluable asset to major enterprises across North America as they transition and implement zero trust frameworks.