Cyber-Crime is at an all-time high. Over the span of just 10 years, the cost of Cyber-crime across industries has increased more than fivefold – up to $1.4 billion. One of the biggest driving forces behind this stark increase is data breaches.
Unfortunately, digital transformation exacerbates data breaches by granting organizations the ability to store massive amounts of data online. This increase in available data storage exists alongside the growing value of personal information. The growing popularity of IoT, the cloud, and other new networking technology has also dramatically increased the attack surface and number of entryways into an organization’s network.
These Cyber-Incidents no longer are just a challenge for IT. Today, Cyber-Crime often disrupts the entire organization with potentially devastating consequences. According to IDG, 85% of CISOs said that security issues during Digital Transformation have had a somewhat to extremely large impact on their business. The average organization has also sustained an attack that resulted in data loss or compliance issues. However, a select number of well-prepared organizations that experienced breaches did not suffer from data loss or compliance issues.
One major way to become one of these well-prepared organizations is to update your Software Asset Management plan. The first step to take is to acknowledge that any security risk is a business risk.
Then, use software compliance to uncover where these digital security risks lie, and secure your business. This requires a security effort that is integral, holistic, and automated from the beginning, rather than put together over time. To assist in this, consider leveraging a managed security service provider.
The key outcome of a mature SAM program is understanding the data within your estate, and the risks inherent in having this data. A mature program can give visibility to software in need of patching and updating, which security software is running, and determine which software is no longer supported or soon won’t be supported. By utilizing these traits of a mature SAM solution, your organization will be able to eliminate some of their risk.