On 28th July 2020, at 11:30 am EAT, ARCON Tech Solutions organized an exclusive webinar for the East Africa region. The topic was: Predict, Protect, Prevent: Modern Security Paradigm for Modern Enterprises. 150+ attendees from India, Kenya, Nigeria and South Africa attended the webinar. Aditi Jain, from the product development team, represented ARCON and delivered a presentation on the importance of Privileged Access Management (PAM) in modern enterprises.
Have you ever heard about 250 years old ‘The Great Banyan Tree’, in the AJC Bose Botanical Garden, Kolkata, India? The vastness of the tree is almost the size of a Manhattan city block with 80 ft high and an area of 14,500 square ft. The number of roots and prop-roots of this banyan tree has surpassed 3600 and it has been a real botanical wonder since ages.
Do you remember the infamous historical character from the battle of Plassey? The chief commander of the Nawab of an East Indian province became an embodiment of betrayal after the historic loss in the battle. The culprit misused the blind trust and faith that his nawab kept on him and eventually allowed the British troops to conquer the land. Who knows if the Nawab would have verified this trustworthiness, maybe the history would have been different? Trust, once lost, can never be retrieved – similarly, the loss which incurs from a mistrust is rarely recovered.
What is the moral of the story?… never assume the ‘trust’ but always reassess it.
KuppingerCole recently published its “2020 KuppingerCole Leadership Compass for Privileged Access Management (PAM)” report and ARCON has been recognized as an Innovation leader by Paul Fisher, the lead analyst. This independent analyst firm from Europe has identified Privileged Access Management (PAM) as one of the crucial components of IT security and risk management in any organization. Today PAM is one of the most indispensable tools to maintain the cybersecurity posture of an organization.
As global organizations grapple with COVID -19 pandemic and the economic uncertainty arising from lockdown, IT security is becoming increasingly a matter of concern. The Security and Risk Management (SRM) pros are on their toes to strengthen their organizations’ digital resilience to combat unexpected disruptions in the business process. Any cyber attack or insider mischief with sensitive data could seriously hurt any organization at a time when employees, vendors, and contractors are remotely accessing systems. ARCON believes that organizations will have to revisit their cybersecurity policies so that the current crisis does not aggravate economic and business continuity challenges. Here are the high priority areas that every organization should look at to mitigate IT security risks.
Digital technologies have spurred innovation and brought a sweeping transformation in the way businesses and government organizations administrate day-to-day operations. It’s altering our lives, bringing people closer whilst it has opened up new avenues for today’s organizations to add value to business, increase productivity, and grow at a faster pace. According to the World Economic Forum (WEF), new technologies spend was expected to increase by 13% compound annual growth rate to $2.4 trillion per year between 2016 and 2020, led by 42% in the IOTs of the total spend. That’s not surprising. Investments in digital technologies raise productivity. In the 2018 report, Digital Transformation Initiative, Maximizing the Return on Digital Investments, co-written by Accenture and the World Economic Forum, the research highlights that the productivity of organizations investing in new technologies is three times higher.
At the onset, we would like to say that Cyber Insurance is no substitute for cybersecurity defense. The Organization has to be in top gear on cybersecurity to ensure that all the assets of the organizations are safe from any unwanted event. However, in the unlikely event of an event occurring, having a cyber policy takes care of the financial implications of such an event.
Can we think of an organization that does not have any segmentation of departments like marketing, finance, HR & Administration? The answer is probably NO – even if there is, the organization can never ensure systematic day to day activities. We don’t need to explain the importance of segregating the employees in various departments as per their roles. Similarly, an enterprise IT ecosystem requires a proper segmentation of a set of digital identities. It ensures role-based access to devices and target systems by authorized users assigned for a defined task.
Privileged Security is indispensable for MSP environment
Today, organizations are managing their IT infrastructure with an increased number of challenges. They have to monitor too many privileged accounts in the vast IT network and manage the security of a huge stream of data. Thus, organizations find Managed Service Providers (MSPs) as better alternatives to handle this massive task of ensuring enterprise IT administration efficiently. Hence the demand for Managed Service Providers has shot up significantly in recent times.
About the Bill
The Government of India has proposed and introduced the draft of the Personal Data Protection (PDP) Bill to the Joint Parliamentary Committee in the Lok Sabha recently. This bill is going to be the Government of India’s another milestone in cyber security space after “Digital India” drive a couple of years back. Previously, this bill was introduced in 2018 by SriKrishna Committee, defining the importance of personal data and its sensitivity. These data include financial data, biometric data, intersex/ transgender status and official government identifiers (like PAN card).