[BLOG] Cybersecurity A Glowing Light Amidst Economic Darkness

While the current state of the economy can be described as moody, in some industries, there is still potential for growth, namely in the cybersecurity sector.

Everyone knows that when there is an economic squeeze, businesses resort to self-conserving methods to keep their companies alive. Workforces are downsized, contracts are slowed, and executives everywhere search every nook and cranny for money-saving solutions. While the economic downturn has not allowed the cybersecurity industry to go unscathed, the need for it prevails, albeit in a more particular fashion.

As businesses search for savings, the key lies within platforms like Microsoft. Now, with tighter budgets and more stringent purchasing processes, businesses no longer want to spend money on individual products for individual problems ̶ they want a platform that solves all of them concurrently. As the saying goes, they want more bang for their buck. Microsoft is well known for its all-inclusive platform approach, and now that businesses are becoming exceedingly selective, cybersecurity is well on its way, too.

In addition to the economic conditions, cybersecurity has another motive to speed the transition to platform-esque systems. On July 26, the SEC announced that all public cybersecurity vendors will be required to disclose cyberattacks within four business days of the breach if they have a material effect. According to the SEC, the decision was made with the intention of “[hardening] the financial system against data theft, systems failure and cyber-intrusions.” What this means is that many businesses are forced to be more transparent about cyber breaches, giving executives the kick in the pants they need to become more acquainted with their cybersecurity solutions and improve their overall protection. Now that platforms have become the preferred management system for cybersecurity vendors, it is in the best interest of cybersecurity companies to evolve their approach to meet the growing expectations.

The increased vigilance paired with the watchful eyes of penny-pinching CISOs means there is a great opportunity for cybersecurity to expand into a more inclusive, multi-functional, and user-friendly platform that can meet the demands of businesses and individual clients. Improving the level of cyber protection is a mounting necessity across all industries, opening a gateway of opportunity for cybersecurity companies that choose to embrace the new market demands.