Are you protecting data amid digital revolution?

Who would have thought about a decade ago that digital revolution could completely transform the way organizations conduct routine operations?

From large retailers analyzing and predicting customers’ purchasing decisions to supply chain firms adopting ‘smart’ technologies to ensure quality controls, disruptive technologies such as big data analytics and the IOTs have enabled firms to capture and effectively use the vital statistics in a real-time.

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Cyber Security : Time to Get the Basics Right

Sometimes I get completely dumbfounded at the pace of technological innovation. Rummage into some of the latest stories in the world of technology, odds are high that ongoing inventions would leave you stunned. And being a tech-freak, I must confess, nothing else in life gives me an adrenaline rush than bright evolving ideas, particularly in the field of information technology.

Indeed, the other day, I got startled to find how one scientist from the University of Rochester in New York is scripting an algorithm, which would help in decoding the human gestures!

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Knowledge-driven World Spurs Innovation but also Brings Risk

We live now in a knowledge-driven world where advanced technologies like ‘big data’ analytics spur innovation and boost efficiency. Thanks to it, companies are now able to collect and analyze a large set of data, allowing them to study the industry’s trends and patterns, in a real-time.

Increasing digitization of businesses, however, has also given rise to cybercrimes. Every year, businesses witness cybercrime related losses that run into billions of dollars. Our information systems today are constantly under risks. Ransomware, hacking from rogue elements, and denial-of-service assaults are very rampant.

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Disruptive Technologies Have Changed the World but Also Increased Risks

Disruptive technologies such as Internet of Things (IOTs) and cloud computing have created enormous opportunities for global organizations. They have changed the way global corporations conduct business. According to the Australian government, disruptive technologies could generate up to $625 billion through economic activities every year by 2030 in the Asia-Pacific (APAC) region alone.

While disruptive technologies create new opportunities they also make IT assets vulnerable. Indeed, with tons of data stored in cloud, organizations risk data breach from malicious outsiders.

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Management at the Top Companies Least Prepared for a New Type of Risk

The only thing predictable in any business is unforeseen risk. Risks come in many types. Manufacturing companies stay exposed to supply chain risks, while financial institutions are vulnerable to regulatory changes and wide gyrations in markets. Besides, risks emanating from social and political upheavals, terror attacks, and natural disasters also keep managements on tenterhooks.

That’s why, one of the key roles of top management is to foresee risk and asses how it will impact their organization. The idea is to create a robust organization that can withstand external shocks.

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Financial Implication of a Data Breach is Huge

We have been touring across the world since the beginning of the year, participating in several IT security events. While our main goal is to educate organizations–amid rising cybercrime– to reinforce their information systems by adapting to our risk-management solutions, we are also meeting with Chief Information officers (CIOs), Chief Information Security Officers (CISOs), and audit and compliance officers.

One-to-one meetings help us in understanding IT security needs. As an IT security provider, however, we must tell you that it is very heartening to find that organizations across all industries, have shown increased awareness towards cyber-security.

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Are ROE, ROCE, ROA the Only Metrics for Investors?

Protecting Critical IT Assets Becomes More Important as Investors Look beyond Traditional Metrics

For any publicly traded company or a private organization, creating long-term shareholder value remains a top priority. When a company consistently creates value, it’s easier to attract investments both for the organic or inorganic growth.

Accordingly, the management always strive to improve key business metrics, which offer an exact picture of the fundamental strength of a company.

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Recent Bank Heists: Why to Compromise Critical IT Assets?

A $101 million bank heist, earlier this year, brought the issue of cybersecurity to the forefront once again. In a sophisticated operation, cybercriminals robbed the Central Bank of Bangladesh by getting hold of SWIFT (society for Worldwide Interbank Financial Telecommunication code), the access code for global cross-border payment messaging system.

More important, it wasn’t an isolated case. Even as the dust over Bangladesh bank incident had not settled, the global banking system was again taken aback. This time it was an Ecuador bank, which was hit by a $12 million cyber-heist. The modus operandi was same.

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Will businesses stand the ‘risk’ of times?

All the top businesses today – Manufacturing& Distribution, Banking & Financial Services, Consumer Products & Services, Technology, Media & Communications, Healthcare & Life Sciences and Energy & Utilities – are expected to grow at a fast pace in the coming decade.

However the evolution of these businesses comes at the cost of rising risks. Analyzing and mitigating the risk factors should take precedence when devising strategies.

Several global studies report the following 10 risks businesses face as of 2016 and beyond:

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Mapping Privileged Identity Management to an exotic travel

When I had started out in this industry, I had absolutely no clue of what Privileged Identity Management meant. In fact, not for a moment I thought it had something to do with security let alone cyber-security. I was deceived by the term ‘Privileged’ so much so that I started considering it be an elitist term which is like a badge to be worn proudly by some. But what I got to know about this was a complete paradigm shift. Yes of course I was right in thinking that it is a sort of title so to speak conferred only upon a select few. But that they can be threats never crossed my mind. Over the years, I observed that not many could easily understand the real meaning behind the term Privileged Identity Management or Privileged Access Management or Privileged User Management or other terms that this concept is referred to by. I pondered and pondered of how this can be explained in simple language to a layman. So here’s my attempt at it.

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