Posted on Dec 17, 2019
Finding the right enterprise cybersecurity solution for your organization can be an overwhelming task.
For one thing, the risk landscape is constantly shifting. According to Symantec’s latest Internet Security Threat Report, some of the biggest threats to business have been changing. Ransomware attacks — long a staple of cybercriminal attacks – fell by 52%, while other forms of attack, like formjacking, are on the rise. Meanwhile, the number of groups using destructive malware to attack organizations has grown by 25%.
For another, the cybersecurity market is also constantly evolving and growing; the global information security market is projected to reach $259 billion by 2025. Finding the right solution — the one that will protect your enterprise’s digital assets against ever-changing threats – can seem difficult at best.
It’s also a high-stakes decision. According to the 2019 Cost of a Data Breach Study from IBM Security and the Ponemon Institute, the average total cost of a data breach is $3.92 million. So, how can you find the right cybersecurity solution to protect your enterprise?
The first step is knowing more about what enterprise cybersecurity is.
Enterprise cybersecurity, is very simply, any cybersecurity solution that protects your entire enterprise.
An organization that embraces enterprise cybersecurity approaches information security holistically. Rather than being an IT problem, enterprise cybersecurity approaches cyber risk as a problem that affects an entire organization: employees, contractors, vendors, and even customers. Anyone in your extended business ecosystem is part of your enterprise, and therefore is affected whenever you suffer a breach.
Because enterprise cybersecurity affects everyone, it works best when you’ve got buy-in from everyone, especially company leadership. In other words, cybersecurity isn’t just a response to a threat, it’s a business goal.
While every company has one common goal — keeping their data safe — most organizations have unique security needs and goals, and those are usually tied to business objectives. You’ll want to take inventory of your organization’s critical data and assets so that you can choose a product that will protect them.
Knowing all your assets (and having senior management on board when you select a product) will help you set cybersecurity priorities and narrow the field while you’re looking for a solution.
You will also need to take into account all of the regulations, standards, and best practices your sector must comply with when it comes to information security. If you’re a U.S. federal agency, for example, you’ll have to abide by NIST SP 800-53, while organizations who do business with customers in Europe must obey GDPR’s rules or face major fines.
This means that your cybersecurity response team should include more than technical personnel. When you’re choosing an enterprise solution, your team should include members from the legal department, senior management, and anyone else knowledgeable about the regulations that affect your company.
The risk landscape is different for every organization. Knowing yours will help you find a solution that addresses your specific vulnerabilities, or which can be customized to protect your data and networks.
Take inventory of the threats your organization commonly faces. If your biggest threats are internal (if Amazon Web Services buckets are often left unsecured, for example) you’ll want a different solution than one intended to combat frequent attacks by cybercriminals.
According to Symantec’s threat report, supply chain attacks rose by 78% over the course of 2018 and early in 2019. Criminals are targeting vendors, hoping to find weak security in a third party that will result in a breach of your data.
This is an area of risk that’s worrying because while you have control over your employees’ information security habits, you may not know the security practices of your vendors, suppliers, and contractors. Despite that, if you suffer a security breach through a vendor, you’re still liable for the breach.
To find an enterprise security product that will protect your business’s extended ecosystem, you first have to know who is in that ecosystem. It’s important to take stock of who your third parties are, what they have access to, and what their risk profiles are.
Then, if it appears you’re at risk of a third party breach, you’ll want to look for a cyber security solution that specializes in third party and vendor threat management.
You might know your most common risks, but you’ll also want to continuously monitor your security profile for other risks that can threaten your organization. Continuous monitoring is critical because it alerts you to threats as they’re happening, or even before an attack.
By choosing smart tools like SecurityScorcard’s cyber threat intelligence, you can continuously monitor the most important cybersecurity KPIs for your business. This intelligent tool uses our own proprietary information, commercial, and open source threat intelligence to identify active threats and malicious activity targeting your organization and your third parties.By delivering actionable security intelligence to you right when you need it, our enterprise security platform lets your security and risk management teams to find and mitigate risks before attackers can exploit them.
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