The Cyber security landscape has changed significantly since 2020 due to the pandemic. In the wake of remote access becoming the ‘new normal, organizations encountered several IT administrative, operational and security challenges. Cyber attacks have also increased. As a result, new trends are emerging in cyber security.
Let’s have a look at some of the current trends:
- Remote access security topped the list of IT security domains (An Increasing number of inquiries and demos were centered around secure remote access in the last ten months)
- Our internal assessment shows that nearly 50% of organizations increased their budget on remote access tools
- Endpoint security, Messaging security, Identity management and Access control and Network security are likely to witness a significant increase in IT budget suggests our recent interactions with the IT CXO level
- Cyber Insurance is receiving more focus in annual corporate budgets and expected to witness a strong double-digit percentage growth
What are the causes behind these trends?
An unprecedented combination of new challenges, new threats, uncertainty and the level of cyber security preparedness– which was never designed to face current IT use-cases, have necessitated a 360 degree change. Protecting data from theft and cyber attacks has become a daunting task as end users are working remotely, and are dispersed. Authentication mechanisms, Identity governance, end-user behavior patterns are some of the critical areas that have taken the front-seat.
Likewise, the boardroom discussions are more focussed on analyzing the current IT security infrastructure and the desired IT security infrastructure. Most of the global organizations have realized the importance of allocating adequate budget to ensure secure remote IT operations round the year as it seems that the hybrid work culture is here to stay even after the pandemic becomes a history.
In the last 10 months, ARCON has observed that organizations across the spectrum– from BFSI, Telecom, Healthcare, Manufacturing, to Government and defence organizations have started to look into the following areas more closely.
- Privileged Access Security
- Just-in-time Privileges
- End-point Security
- End-user Behavior Patterns
- Zero Trust Security Framework
- Secure Remote Access
Resultantly, a centralized governance framework, rule-based, role-based, and time-based access control to systems, Multi-factor authentication (MFA), Single-sign-on, end-user behavior monitoring and analytics around it and, access to critical systems through a secure gateway have become IT security ‘must’ for global organizations.
All the above IT practices can ensure uninterrupted and secured IT operations amid both remote and on-prem work conditions. We find that more and more organizations are gearing-up by integrating these tools in their IT infrastructure.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behaviour Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.