The rapid pace of digital transformation sees security professionals on the cutting edge of constant change.
Along with the excitement and opportunity that arise with these constant changes, they also come with their fair share of challenges.
According to the Institute of Risk Management’s 2019 Annual Risk Report, cyberattacks are in the top 10 listed risks our country is facing.
Cybersecurity is complex.
With the right framework, you’ll be setting yourself up for a sustainable advantage against cyberattacks.
In this blog post, we’re going to look at the three cybersecurity solutions to execute as part of your security strategy.
Let’s get started.
1. Identity and Access Management (IAM)
We’re great proponents of an effective IAM framework forming a central part of your overall security strategy.
Deploying the correct IAM technology for your business will allow for centralised control of user access and ensure greater protection of your business’s data assets.
Your IAM strategy should include multi-layered defense systems, like these:
- Single-Sign-On (SSO). This reduces the time your employees would take to set a new password every time they used new software or logged into a new network. SSO requires one password for multiple networks and systems.
The research VP at Gartner, Mary Ruddy had this to say:
“SSO is a core IAM requirement for most organisations”
- Multi-Factor Authentication (MFA). This provides your business with an additional layer of security reducing the chances of a breach.
Today, employees account for more than 50% of data breaches. It’s, therefore essential to add multiple layers of verification for added protection.
- Privileged Access Management (PAM). This solution will protect your business against the misuse of privileged access. This is done by authorising and monitoring privileged users.
According to Cenrify’s survey “Privileged Access Management in the Modern Threatscape” they found that 74% of data breaches involved access to privileged accounts.
Tim Steinkopf the CEO of Centrify had this to say:
“What’s alarming is that the survey reveals many organizations, armed with the knowledge that they have been breached before, are doing too little to secure privileged access.”
2. Vulnerability management
System vulnerability is almost inevitable with the constant evolution of technology. In fact, according to the edgescan 2019 vulnerability statistics report, 81% of vulnerabilities within an organisation are network vulnerabilities.
It is, therefore essential to introduce a vulnerability management program.
A program like this is a continuous process that’s aimed to help your business manage your security vulnerabilities over the long term.
Your vulnerability management program should look something like this:
- Assessment. This is where you want to scan your entire system for vulnerabilities. This includes hardware and software scans that you will need to catalogue as well. This assessment can be done by a third-party company and will include a detailed report that your business will use to begin repairing and safeguarding.
- Prioritise. Those scans will have produced results, based on that you will need to prioritise your risks.
- Compensation. This is where you will need to remediate your scan results.
3. Incident response
We know that cyberattacks have the ability to cause great loss and damage to your business. This acknowledgement has seen the rise and importance of a business continuity strategy.
A continuity strategy is developed to ensure your business has a coordinated response to breach detection, cyberattacks, but also how your business will continue to operate after an incident.
This plan should contain detailed instructions as to how your business will respond and of course, continue post-incident.
In alignment with your continuity strategy, you will also develop your incident response plan.
This plan consists of four main steps:
- Preparation and planning. This will include the steps your cybersecurity teams need to take to be ready in the case of an incident. This step contains everything from policy development to prioritising security assets.
- Detection. Your incident response team needs to be notified in the case of an attack. Your team will then address how the incident came about and what caused the incident.
- Assessment. Your team will need to assess all the systems that may have been affected to ensure they are restored and secure.
- Learning. It’s important to debrief with your team in a manner that suggests process improvements to prevent future risks.
Your team will need to provide detailed reports on how every step of the attack was managed. These reports are important as they will provide your business with security benchmarks for future attacks.
Security information and event management (SIEM)
Your incident response plan is not complete without SIEM. This technology will aid your cybersecurity strategy in a way that’s able to present your IT teams with real-time data from all your different networks and systems.
Tools like this play an important role in detecting attacks before they happen.
Cybercrime is costly.
In fact, by 2021 it’s predicted to cost the globe $6 trillion annually!
Understanding the cybersecurity solutions your business needs will set you on a path towards a safer more secure environment.
If you’re looking for more information take a look at the eBook we’ve just launched “Your Essential Guide to Modern Cybersecurity”. Simply click the button below to get your copy.