It is without a doubt that today’s threat landscape is transforming at an unprecedented pace. Considering the intensity and effect of the cyberattacks, protecting the enterprises against threat actors is a herculean task. Skybox recently released new findings from the largest cybersecurity benchmarking study of global executives. The data from the findings display the reality of where organizations stand in terms of their cybersecurity measure. The research suggests that 27% of the Executives and 40% of the Chief Security Officers (CSOs) have accepted not being prepared to handle the new and intense cybersecurity threats that are emerging. Staggering data reveals that India alone till June 2022 (from Jan 2022 to June 2022) has reported more than 6,74,000 cyberattacks with an estimated 200% YoY growth in the number of attacks.
Why are organizations failing to counter the immensely evolving threat landscape?
“It is important, now more than ever, to understand the switch C-Suite has to make in order to counter the ever-evolving attacks against their organizations. They are failing in being prepared and taking action, due to their traditional approach toward the attacks. The companies are playing DEFENSE with the threat actors, which at this age and time are valid only for low-level, traditional threats or breaches. When it comes to the current threat landscape, enterprises need to go on the OFFENSE. Skybox’s research has shown that organizations that have implemented a Risk-Based Cybersecurity approach have seen zero to few attacks. It is such research and analysis that has led Skybox to develop the industry’s most advanced and award-winning risk-based Vulnerability & Threat Management solution,” says Gaurav Ranade, CTO, RAH Infotech.
Experts at Skybox have proven that once organizations transform from a reactive to a preventative strategy, cyber exposure dramatically decreases. In a risk-based approach, emphasis is laid on proactive steps that enable organizations to anticipate, identify, and mitigate risks in advance. The report revealed:
· 48% of organizations that had no breaches in 2021 were leaders in risk-based cybersecurity
· 50% of the top performers in time to mitigate a breach were risk-based approach leaders
· 46% of the top performers in time to respond to a breach were risk-based approach leaders
“The benefits of a risk-based cybersecurity approach are clear. Our research validates that leading risk-based organizations experienced fewer incidents and fewer material breaches,” said Shantanu Srivastava, Vice President, Asia Pacific Japan, Skybox Security. “Our industry-leading Security Posture Management Platform – which incorporates exposure analysis, risk scoring, vulnerability assessments, threat intelligence, and more – delivers a risk-based strategy to reduce risk systematically and the financial impact a breach could have on a business.”
It is not just the check-box approach and poor cybersecurity hygiene that makes enterprises vulnerable to cyber threats. It is mainly the strategy IT teams resort to that makes them vulnerable. Instead of cleaning up after the attack, enterprises need to be on the watch 24*7*365 across all of their endpoints anticipating threats. This is where the Skybox risk-based solution is labelled as the best. The Skybox Vulnerability and Threat Management Solution calculates the industry’s most accurate risk score by combining five critical variables – Exploitability, Exposure Analysis, Asset Importance, Cyber Risk Quantification and Severity. The Skybox risk score is tailored to each customer’s unique business logic and risk profile. For any sophisticated attack, the countermeasures need to be sophisticated and enterprises can achieve this level of sophistication in their cybersecurity measures when they employ a risk-based approach.