Pandemic has accelerated the digital transformation of many organisations. All industries, even the traditional ones, have embraced technology like a drowning man embraces a lifeboat.
Our IT systems no longer live inside the firewalls. A lot of business is done over the cloud, with employees and suppliers scattered worldwide. The collaboration of all partners happens over various platforms, and isolating IT system is not an option. According to Brian Hill of Computer Forensic Services, Technology offers convenience, but “every time we gain convenience, we give up something in security”.
Hackers have been working overtime in the pandemic, and phishing, malware, and ransomware attacks have hit unprecedented levels. As per a PwC study, the instances of cyberattacks on Indian enterprises surged by 117 percent in 2019 compared to the previous year. It looks like this battle will continue for a long time. There is no way to wipe out the scourge of hacking. Thus, it is critical to stay ahead of the game, and for that, a Digital Gatekeeper is a must.
Cybersecurity Chief In 2021
With almost all organisations in the market to hunt down the top cybersecurity talent, we must also understand the demand-supply equation. According to Capgemini’s Digital Transformation Institute report, cybersecurity accounts for the biggest gap between demand and supply.
It’s still a long road ahead before we have a large pool of qualified, experienced and adequately skilled professionals at our disposal. Hence, organisations and Tech Chiefs must develop a sustainable organisational tech infrastructure on a priority basis.
There are many aspects to building a digitally secure fortress. The Cybersecurity Chief need to be tech-savvy and keep abreast of emerging trends. This involves being updated with market developments and having the ability to identify internal areas of digital vulnerability. Further, protection mechanisms, hacking techniques and hardware/software culpability are essential areas of focus.
Cyber threat has been looming large over organisations. An equipped, handpicked and efficient team is required to back the Cybersecurity Chief to take the challenge head-on. A leader who can find the best tech talents will have a clear upper hand.
Building a competitive team requires a leader to be efficient in deploying talent, while also clearly communicating tech objectives and outcomes. The leader needs to explore a ‘common organisational data language’ to arrive at standardised operations. This will be a crucial factor in determining how well an organisation can maximise tech investments. For most players starting their digital transformation journey now, there will be a substantial investment required for building infrastructure. Supporting cybersecurity teams with well-aligned processes and systems is critical to ensure a strong foundation.
The Nature of Business
While tech agility and resilience will improve, there will also be softer cybersecurity aspects that need addressing. As the correlation between workplaces and workforces evolves, the Cybersecurity Chief should build an ecosystem that allows for flexible working. This will mean dealing with third parties, employees, clients and partners from unconventional and dispersed systems. With today’s nature of work, demanding flexibility and agility, we will soon see many organisations explore multi-cloud environments.
However, the good news is, with rising tech usage, comes new unharnessed data that can always be leveraged for overall betterment. Using the power of analytics, we will be able to use this data to develop smarter risk management systems. Soon, we will see frontrunners embed cybersecurity in their DNA from the very beginning instead of incorporating it as an afterthought.
A New Frontier
Cybersecurity will be critical ammunition for the defence of IT systems, network, data, and therefore the smooth functioning of many industries. Those who manage to get their hands on the latest and most competitive technology will undoubtedly emerge victorious in this epic battle.
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As the MD of Catenon’s Asia business, Gaurav is responsible for building and growing the business, across both the Indian and South-East Asian markets. A postgraduate in Business Administration and Management from Indian School of Business, Hyderabad, he has deep experience in Human Capital working with marquee clients across industries. Gaurav comes with Management Consulting experience at Cognizant Business Consulting, where he consulted clients across Insurance, Technology, Healthcare and Life Sciences verticals in the US. He has a keen interest in Policy, Geopolitics, Economics, and Future of work.