The Top 5 Cybersecurity-related Issues Organizations Are Tackling

TechTarget highlighted cybersecurity as one of the top three challenges CIOs face in 2023. This likely doesn’t come as much of a surprise, knowing there were over 25,000 cybersecurity vulnerabilities assigned a common vulnerabilities and exposure (CVE) number and included in the National Vulnerability Database (NVD) via the National Institute of Standards and Technology (NIST) in 2022.

As organizations navigate this complex terrain, it becomes crucial to identify and address the specific cybersecurity issues that pose the greatest risk to their operations, data, and reputation. Here are the top 5 cybersecurity-related issues organizations are tackling in 2023.

1. Keeping pace with the threat landscape

The threat landscape is the constantly changing nature of cyberattacks, which can occur when viruses, malware, phishing attacks, ransomware, or other intrusions penetrate a company’s networks. These threats can come from various sources, including nation-states, organized crime, individual malicious hackers, or even ethical hackers.

2. Technological change

With the rapid pace of technological change experienced in the IT industry, as new technologies are developed and adopted, they can create new vulnerabilities to be exploited. A recent example is the migration of enterprise applications, such as Microsoft 365, to the cloud, which has created a vast landscape of inter-connected computers and networks that can be attacked individually or as a group.

This changing reality necessitates a proactive approach to cybersecurity. This includes technical cybersecurity solutions, such as antivirus, firewalls, and intrusion prevention systems, based on the latest security technologies, as well as updated company cybersecurity processes that mandate periodic employee training and incident response plans.

3. Finding the right vendors and tools 

An organization’s cybersecurity tech stack should incorporate elements that protect digital assets, networks, databases, servers, and enterprise applications. It’s important to remember that the ideal cybersecurity tech stack for you should be based on your organization’s—as well as your customers’—overall risk profile. No matter what the current state of your cybersecurity tech stack is like, it’s crucial to remember that threats are constantly evolving, and business and cybersecurity needs are changing, so it’s necessary to stay vigilant and find ways to improve. 

4. Responding to incidents

Well-run companies have formal incident response processes fully documented by their internal cybersecurity team or IT support partner. This way, when an actual cybersecurity incident occurs, the team can focus on mitigating the incident rather than wasting resources tracking each team member to ensure they are completing their assigned tasks.

Without such processes, a simple incident can become a major crisis, causing serious harm to an organization’s operations, compliance, reputation, and financial state. Having standard operation procedures (SOPs), especially for frequent incidents, is critical for proper resource management and ensuring the most critical incidents are prioritized when required. The owner of the SOPs with the appropriate level of authority to make enhancements or changes also needs to be identified and updated when required as part of the documentation.

Without such formal incident response processes, organizations can waste valuable time and already-scarce cybersecurity talent tracking personnel instead of spending time on the resolution.

5. Cybersecurity insurance coverage

According to Sophos’ Cyber Insurance 2022: Reality from the Infosec Frontline report, cyber insurance policies are now held by 94% of organizations. And it’s getting more challenging to obtain cyber insurance as insurers evolve their minimum cybersecurity standards. According to the report:

• 54% say the level of cybersecurity they need to qualify for insurance is now higher
• 47% say policies are now more complex
• 40% say fewer companies offer cyber insurance
• 37% say the process takes longer

And even if you get a policy, there’s no guarantee the attack scenario you encounter is covered, as many organizations have needed to go to court over being paid out based on their policy.

Yeo & Yeo Technology can help organizations keep up with the evolving threat landscape.

At Yeo & Yeo Technology, we are committed to helping organizations strengthen their cybersecurity posture and effectively mitigate threats. Contact us today to learn more about how our comprehensive solutions and experienced team can safeguard your digital assets, protect your sensitive information, and ensure your organization’s resilience against cyber threats.

Information used in this article was provided by our partners at ConnectWise.