Enhancing network security in the digital age: 5 top insights

As hybrid work environments become the norm and the adoption of digital technologies accelerates, enterprises face a new wave of network security challenges. The occurrence of cyber incidents or breaches is on the rise, as 91 percent of businesses have reported experiencing at least one in 2023, according to a recent Deloitte survey. But this shouldn’t mean businesses should slow down their digital efforts. They must continue to invest in digital transformation and hybrid work environments to remain competitive and unleash greater profits. Yet, many enterprises often find themselves ill-equipped to support hybrid work and digital transformations due to traditional networking approaches and methodology not being able to deliver the desired outcomes from a performance or cost perspective.

To protect enterprises from evolving threats, networks must be both secure and resilient to mitigate potential risks associated with hybrid working models. This is crucial as the number of remote workers globally surged from 20 percent in 2020 to 28 percent in 2023, according to Statista. With remote work here to stay, employees will require access to networks from diverse locations and devices, which significantly expands the attack surface, underscoring the urgent need to secure and future-proof networks.

“Network architecture, once considered secure, is now more vulnerable than ever, demanding urgent attention from the executive team and necessitating an audit of current security measures. We’ve seen this across the board with our clients,” said Tim Sullivan, Coevolve’s Co-Founder and CEO. He also cautioned that the demand for a security-centric approach to networking has never been more pressing.

The good news: there is a growing awareness around the increase in vulnerabilities. According to a recent 2023 Statista survey, 72 percent of IT managers said they were “very concerned or somewhat concerned” about the strength of their online security and the elevated risk associated with employees working remotely. However, by taking a security-centric approach, from endpoint protection to cloud security measures, enterprises can successfully mitigate the emerging threats posed by cybercriminals. Below, we delve into the key aspects of the current network security landscape and present five crucial insights to guide your network security journey. These updates are designed to deliver a significant impact and modernize outdated security measures effectively.

1. Understand the evolving threat landscape

The significant surge of cyberattacks, including AI-driven attacks and ransomware, has sparked concern among Chief Information Security Officers (CISO) and executive teams, who have observed a growing diversification and sophistication in these malicious activities. The adoption of generative AI (GenAI) is also further complicating network security, but only a small percentage of companies appear ready for its extensive adoption and the associated potential business vulnerabilities. While 53 percent of leaders recognize cybersecurity as a risk linked to GenAI, just 38 percent are actively addressing this risk through mitigation efforts, according to a recent McKinsey and Co survey.

At the same time, the cost of cyberattacks to businesses is escalating, with cybercrime projected to rise significantly from 2024 to 2029, reaching a total of US$6.4 trillion (a 69.41% increase) and ultimately soaring to a new high of US$15.63 trillion in 2029. Out of all sectors, the manufacturing sector experienced the highest percentage of cyberattacks among global industries in 2023, accounting for nearly a quarter of all incidents, according to Statista. Finance and insurance came next at around 18 percent. 

As cyberattacks become more targeted and covert, enterprises must remain vigilant and agile to ensure they successfully block all incoming threats. The best defense is offense, and by employing thorough risk assessments and penetration testing, they can better identify areas of weakness in their networks that malicious actors could exploit. Additionally, continuously monitoring emerging threats and attack vectors, along with leveraging threat intelligence, helps CISOs enhance cyber resilience and prevent incidents from escalating.

2. Implement proactive security measures

At the rate of how rapidly cyberattacks are adapting, robust security measures are essential to safeguard digital assets from evolving threats. Enterprises should ensure that they work towards proactivity over-reactivity, which is vital in security posture. Reacting to incidents after they occur can be insufficient, resulting in expensive downtime, loss of profits, and more. By 2026, Gartner indicated that enterprises prioritizing their security investments based on a continuous threat exposure management (CTEM) program will experience two-thirds fewer breaches, underscoring the effectiveness of this proactive approach in reducing security incidents. 

Additionally, there is a vast amount of data generated daily by enterprises, making it critical that they credibly assess threats and adopt a proactive approach that involves better correlation of information to detect anomalies and potential risks preemptively. Enterprises can anticipate and mitigate cyber threats before they materialize, promoting a more resilient and secure digital environment by shifting their focus toward proactive security strategies.

3. Embrace innovation for resilient networks

Innovation is a key ingredient for building resilient networks, allowing for adaptability in an ever-evolving cybersecurity landscape. Currently, the future of network security is being shaped by prominent trends, such as artificial intelligence (AI) and automation. Specifically, AI-driven technologies are revolutionizing security methods by activating advanced threat detection, rapid incident response, and proactive risk management. 

A recent Gartner survey supports this, finding that 34 percent of enterprises have already adopted or are in the process of implementing AI-based application security tools, with over half of organizations exploring comparable solutions. Specifically, the emergence of AI-based policy generation, leveraging both internal network signals and external threat intelligence, has the potential to transform an enterprise’s cybersecurity by increasing security protocol agility and efficacy.

In addition, digital twins can fortify network resilience. Essentially virtual replicas of physical devices or systems, they can grant real-time insights into network operations and potential vulnerabilities. By establishing digital copies of network mechanisms, corporations can reproduce security scenarios, forecast potential breaches, and proactively employ preventive measures. Focusing on innovation and supported by AI-based policy generation and digital twins boosts an enterprise’s holistic security stance, enabling swift and effective responses to evolving cyber threats.

4. Securing networks effectively: 5 essential steps 

Coevolve 5 point framework to secure networks

To secure networks effectively, enterprises must adhere to a 5-point framework tailored to their specific security requirements and operational needs, which can be summarized as:

  1. Assessing your security requirements: Understanding the specific security needs of your network is crucial for implementing effective security measures.
  2. Choosing the optimal operational model: Deciding between in-house management or outsourced solutions (managed or co-managed) can significantly impact the security posture of your network.
  3. Selecting appropriate next-generation technology: Identifying and leveraging technologies like Software-Defined Wide Area Networks (SD-WAN), Secure Access Service Edge (SASE), Secure Service Edge (SSE), and Zero Trust Network Access (ZTNA), is critical, but CISOs should also evaluate how they synergize to strengthen your network’s security.
  4. Emphasizing continuous improvement: Recognizing that network security is an ongoing process that requires consistent enhancements and updates to stay ahead of emerging threats.
  5.  Implementing robust access controls: Establishing stringent access controls, including multi-factor authentication, least privilege access, and regular access reviews, to bolster network security defenses.

5. Collaborate with a trusted partner to achieve network security success

Reactive cybersecurity approaches no longer measure up. As CISOs and all leaders navigate digital transformation, cybersecurity challenges, and evolving technology requirements, they have realized that they don’t have to work it all out by themselves. Instead, there is immense value in collaborating with a strategic partner who serves as a ‘trusted voice’ and is a reliable ally providing expert guidance and support. As your trusted partner, Coevolve can not only offer strategic insights, but act as a beacon of expertise in the unpredictable world of security. With managed services, enterprises can rely on a wealth of knowledge to guide critical decision-making, mitigate risks, and drive innovation.

To learn more about our dynamic network security measures and the benefits of managed services, contact us or read our detailed eGuide, underscoring the impact of forging strong partnerships with providers who embody trust, credibility, and a deep understanding of unique business requirements.

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