Four Narratives that Could Explain Why
- A decade ago, cybersecurity was all about securing the perimeter to ensure that corporate IT systems were closed to outsiders. In the past five years, however, working remotely has become more and more ubiquitous with a high percentage of employees working outside of the perimeter, accessing sensitive data through the cloud and unsecured systems, and often doing it all via a mobile device. As a result, the entire enterprise has become fundamentally more vulnerable, making it difficult to determine where the perimeter ends and the outside world begins.
- Healthcare and life sciences companies have long been slow to innovate when it comes to digital, and this hasn’t been helped by the fact that technology is not their core business proposition. In fact, as other industries have had to adopt new business models to grow their revenues, which typically resulted in disproportionate investment into technology, healthcare and life sciences have stayed a little behind the digitization curve.
- For many organizations, being slow to innovate is not by choice. Instead, it’s often for compliance reasons, like in a scenario where a business has to choose between meeting the latest regulatory standard and rolling out a new technology. In this case, the company may stay in business without the new software component, but not without meeting the regulatory standard. Indeed, compliance has long been a burden to the CIO agenda.
- Finally, considering the above narrative about the ever-expanding perimeter and how the June cyberattack on Merck affected so many employees, it’s worth noting that the companies making headlines for data breaches aren’t small or even medium-sized. Instead, hackers go after the biggest and, by extension, most profitable targets – companies with the highest numbers of employees, locations, and potential entry points.