If cyber security was earning heightened interest at the board and c-suite levels prior to the pandemic, its urgency only increased when the global pandemic was declared. Organizations quickly realized the immediate need to digitally transform every part of their business, whether to serve customers, preserve supply chains or enable newly remote workforces.
In this high-pressure environment, many organizations responded with impressive agility rethinking their operating and delivery models, embracing digital transformation that might otherwise have taken years to implement. Of course, organized crime responded by refocusing their attacks, often taking advantage of new gaps in an organization’s security measures and playing on the fears of citizens over COVID-19.
Unfortunately, just as these cyber risks are rising, companies may face economic hardships which drives them to contemplate cutbacks to their security budgets. They make these decisions at a time when building digital trust, with customers, partners and government, is critical to their survival and success.