Cybersecurity threats, including ransomware, malware and phishing, continue to grow and evolve, increasing risk for businesses of all sizes and across all industries. According to the World Economic Forum’s 2023 Global Risks Report, cybercrimes rank among the top ten global risks—ahead of the natural resources and debt crises, prolonged economic downturn and the use of weapons of mass destruction. With 91% of respondents in the 2023 Global Cybersecurity Outlook study reporting that a “far-reaching, catastrophic cyber event is at least somewhat likely in the next two years,” organizations need to do more to keep pace with the diverse, ever-changing threat landscapeto better manage cyber risk.
Cyber threats are in a constant state of evolution, posing a danger to organizations of all sizes, from the largest of enterprises to small and medium-sized businesses. All face heightened vulnerability to cyberattacks for several reasons, including limited resources in the SOC and a slower response to emerging threats. Even enterprises that have the budget to swiftly adopt new technologies and data transfer methods still struggle with effectively measuring ROI from deployed security tools and sorting aggregated data coming through their firewalls.
The evolving digital landscape brings new challenges to security operations, especially when it comes to the end users working in it everyday. Recent studies indicate more than 99% of cloud breaches are the result of preventable misconfigurations or mistakes by consumers. As a result, organizations are seeking more efficient and cost-effective IT security monitoring and management services to support overwhelmed end users drowning in data and alert overload.