This new era of cybercrime has meant increased challenges; enterprises are struggling with a lack of trained manpower and cybersecurity expertise to counter more sophisticated attacks3.
Subsequently, this has had a knock-on effect when it comes to risk planning and preparedness because the cost of security breaches goes well beyond recovery costs, reputational damage or a drop in share price (such as that suffered by Capital One4).
Today, there is also a lack of transparency factors5 to be considered, particularly when governments are tightening governance on private sector organizations and this can cost millions of dollars in penalties.
The fact is that many organizations in Asia Pacific (APAC) are unprepared to detect and respond to data breaches, compared to US and Europe counterparts. The high rates of digital connectivity and proliferation of mobiles devices has also meant that APAC is an ideal environment for cyber criminals to thrive, particularly in markets where data regulations have yet to be fully developed.
But with so many vendors and solutions to choose from in a busy marketplace, what sets the established experts apart? Research firm IDC has pointed out that to remain relevant, service providers need to fulfil several criteria, including:
The firm recently highlighted CenturyLink as a major player in its IDC MarketScape: Asia/Pacific Managed Security Services 2020 Vendor Assessment7 and previously called out CenturyLink’s multilayered cybersecurity approach as a strong differentiator. This includes services such as network-based solutions, DDoS mitigation, adaptive network security, and threat intelligence as well as incident management and response and security log monitoring.
Furthermore, our support of and relationship with customers have been key to success in the MSSP market. In response to more enterprises around the world turning to network solutions with built-in security, our eighth CenturyLink global security operations center (SOC) was unveiled in Singapore last year to serve enterprise customers in the region and globally.
At a time when business survival and the competitive edge is defined by digital transformation, the role of service providers and partnerships is an important one. Managing security does not need to be complex, but it does need strategy and the right expertise and systems in place to safeguard business continuity.
Cast your security net wider and improve your cyber defense strategies to better realize the benefits of digitization. See how you can take care of business and let the experts keep it secure today.
1 Chris Morris, Fortune, Hackers had a banner year in 2019, Jan. 29, 2020.
2 Frost & Sullivan, AI in cybersecurity a growing necessity amidst a rapidly evolving business landscape, Nov. 8 2019.
3 Frost & Sullivan, Cybersecurity Market in Asia Pacific Observes Growth Opportunities From Digital Transformation And Sophisticated Cyber Threats, Nov. 8, 2019.
4 Daniel Strauss, Business Insider, Capital One sinks after revealing a hack that leaked information on more than 100 million people, Jul. 30, 2019.
5 Marsh, Cyber Risk in Asia Pacific – the Case for Greater Transparency, 2017.
6 Phil Muncaster, Infosecurity Magazine, Cybersecurity Skills Shortage Tops 4 Million, Nov. 7, 2019.
7 IDC, IDC Reveals Leading Market Players for Fast Growing Asia / Pacific Managed Security Services Market in 2020, Feb.12, 2020.
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