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Vendor Engagement: A Proactive Approach to Mitigating Cyber Risks

Cybersecurity threats continue to grow in sophistication and frequency, posing significant challenges for businesses of all sizes and industries in the Asia Pacific region.

Due to this, investment in cybersecurity has become a critical imperative for business. In fact, data from IDC's Future Enterprise Resiliency & Spending (FERS) Survey Wave 7 indicated businesses are investing in security not only as a protection but to improve the enterprise value of their businesses.

But in a world where threat, business, and digital landscape continue to intertwine and impact each other, businesses cannot afford to wage the war against cyber criminals on their own. Vendor-client engagement is crucial in staying ahead of ever-emerging cyber threats.

Top 5 Tech Investments to Improve Enterprise Value

Source: Future Enterprise Resiliency & Spending (FERS) Survey Wave 7

More digital, more problems?

While the digital business and digital-first strategy were inevitable, the natural progression of modern business operations is not one completely without problems. Modern businesses face a variety of cyber risks, often through the same technologies that power their business. Some of these challenges include:

  • Phishing attacks and social engineering
  • Ransomware and Malware
  • Cloud Misconfigurations
  • Advanced Persistent Threats (APT)

In a rapidly evolving threat landscape, it is absolutely imperative for businesses to keep their finger on the pulse of the latest emerging threats. While it can be challenging for business leaders to keep up with these deluges of information, frequent engagement and dialogue with security partners and vendors can be a highly effective strategy.

Trusted security vendors generally have the latest threat intelligence as they possess the expertise and resources to stay on top of emerging threats. Businesses can access the latest threat intelligence and receive timely updates about potential risks by engaging with these vendors. Furthermore, security vendors can offer proactive solutions, such as software updates and patches, to mitigate potential risks before they become major problems. They can also work with businesses to develop tailored cybersecurity strategies, including training and software measures, to help them stay secure against evolving threats.

IDC invites you to collaborate with us at our CSO Summit Series happening across the Asia Pacific from March to August 2023 and reaffirm your status as a trusted security vendor amongst leading CSOs and CISOs.

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