Strengthening Cyber Resilience for Smart Future

In the era of rapid digital transformation reshaping the business landscape, organisations must adopt a proactive stance towards cybersecurity and cyber resilience. With businesses, governments, and individuals increasingly reliant on digital technologies for communication, commerce and essential services, the threat landscape has expanded exponentially.

Some Figures

A recent survey conducted by CyberArk, a leading global identity security company, unveils a concerning reality: an overwhelming 91 percent of Indian organisations surveyed fell victim to ransomware attacks in 2023 alone, a stark escalation from 70 percent in the previous year (2022). Furthermore, a global annual survey of CIOs by Lenovo found that data privacy/security and cybersecurity/ransomware (each 68%) were the top two challenges businesses find most difficult to address. The report's latest edition also reveals cybersecurity as IT’s most urgent priority, matched only by AI. These combined underscore the urgent need for organizations to pivot their cybersecurity strategies towards resilience. 

The peril of cybersecurity cannot be wished away.

In India, with its diverse and rich economic landscape comprising MNCsMSMEs and government entities, lies a significant market for cybersecurity and cyber resiliency. Indian cybersecurity industry must play a pivotal role in furthering the government’s commitment to digitisation and facilitating the adoption of emerging technologies, including AI/ML and cloud, and mitigating evolving cybersecurity risks. As per Lenovo’s global CIO study, 80% of CIOs feel that breakthroughs and developments in AI will significantly impact their business and that one of the most significant barriers to scaling AI is security-related. This places cyber resiliency as one of the most vital cornerstones of a business’s strategy. 

Some Strategies

Cyber resilience entails safeguarding digital assets through robust defenses, swift detection and effective recovery strategies. This approach encompasses organizational processes and employee awareness, ensuring uninterrupted business continuity. The cornerstone of resilience lies in proactive preparation rather than reactive panic. Leading IT firms globally have embraced comprehensive security solutions to protect devices and infrastructure, incorporating a spectrum of security features to safeguard data, identities, and systems from diverse cyber threats.

For this, the adoption of a robust cyber resilience strategy is of utmost importance. It necessitates a customizable portfolio of solutions capable of evolving alongside organizational needs and demands. A well-defined incident response plan and business continuity measures are paramount for minimizing disruption and expediting the return to normal operations. These plans must be tailored to the unique needs and challenges faced by both MNCs and SMEs, detailing specific steps to take in the event of a cyberattack to ensure a coordinated response.

MNCs, with their expansive global operations, face multifaceted threats and require sophisticated business continuity plans. These plans should include dispersed data backups across multiple geographical locations to mitigate the risk of data loss and ensure seamless disaster recovery. Investing in dedicated in-house security teams, advanced recovery resources, and establishing independent board risk committees are critical steps in fortifying their cyber defenses and safeguarding their integrity.

In contrast, SMEs, with their agile and cloud-native infrastructure, can leverage cost-effective solutions to enhance cyber resilience. Regularly backing up critical data locally and devising clear procedures for restoring essential systems and applications can significantly bolster their ability to withstand cyber threats. Exploring managed security services, cloud-based backup solutions, or enlisting the expertise of security specialists and consultants can provide SMEs with vital support in navigating the complex cyber landscape that otherwise could be cost prohibitive.

Be it MNCs or SMEs, central to strengthening resiliency is the adoption of integrated solutions that streamline multiple processes. Here’s where solutions like Cyber Resiliency as a Service (CRaaS) come in, which address growing security challenges for businesses of all sizes.

Role of CRaaS

By consolidating functionalities into a unified platform, CRaaS can help organisations in the following ways - 

●      Offload labour and time-intensive tasks to free up customers and reduce overhead costs 

●      Enhance operational efficiency and fortify defense mechanisms against evolving cyber threats

●      Tackle other cybersecurity challenges like regulatory compliance and budget constraints

This convergence not only simplifies the cybersecurity ecosystem but also facilitates swift and effective responses to cyber incidents, minimizing potential damages and maximizing resilience.

Cyber resiliency of organisations can be further maximized through:

●      Robust risk management practices that enable organizations to identify and prioritize cybersecurity threats, allocate resources effectively, and make informed decisions to mitigate risks.

●      Regular training & education programs for employees to recognize and respond to potential threats effectively, reducing the risk of security breaches due to human error or lack of awareness.

Effective crisis management capabilities ensure a coordinated and cohesive response to cyber incidents, maintaining cyber resilience.

The pervasive threat of cyberattacks underscores the critical importance of embracing cyber resilience as a strategic imperative for Indian organizations. By cultivating a proactive cybersecurity posture, tailoring resilience strategies to meet specific organizational needs, and leveraging integrated IT solutions, businesses can navigate the turbulent cyber landscape with confidence. In doing so, they uphold the trust and credibility of the organization, emerging stronger in the face of adversity.

--By Rohit Midha, Executive Director, Enterprise Business, Lenovo India

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