As the curtains close for year 2023, the financial impact of cyberattacks on the global economy is predicted to reach $10.5 trillion. It is imperative for IT managers to be aware of the evolving landscape. Let’s see what will shape the cybersecurity arena in the coming year. From a data-centric perspective, we have identified 7 trends that will be important for data security.

The manufacturing industry has undergone a huge digital transformation in recent years. While these changes have increased productivity, the industry has also experienced new pressures from cybersecurity. In 2022, the industry has been vulnerable to 250 data violation incidents in the United States alone costing nearly 23.9 million USD. More and more industries are finding their intellectual property (IP) at risk as threat actors become more sophisticated.

The Cybersecurity Maturity Model Certification (CMMC) program is aligned to DoD’s information security requirements for Defense Industrial Base (DIB) partners. It is designed to enforce protection of CUI (Controlled Unclassified Information) shared by the Department with its contractors and subcontractors.

The digitalization wave is the latest focus for enterprise IT modernization. While it offers enormous opportunities it also creates great challenges. As organizations hasten to digitalize, they often neglect sufficient cybersecurity leaving them vulnerable to cyberattacks and data theft. According to the latest IBM report, the global average cost of a data breach in 2023 was $4.45 million. Every day adversaries launch malicious attacks on business infrastructures to disrupt or obtain sensitive data.

Business-critical applications such as ERP, SCM, CRM, PLM, and others support essential business functions and processes for the world’s largest commercial and government organizations. This includes supply chain, manufacturing, finance, sales and services, and defense. Many businesses in the Defense Industrial Base (DIB) utilize SAP in their ERP landscape.

The protection of sensitive information is critical for any organization, especially when it involves national defense. The effort is not only for protecting the information but also ensuring that the organization meets regulatory compliance and policies. The US government’s efforts to break down information silos and improve sharing of data have led to an increase in the number and diversity of people accessing and working with CUI.

Zero Trust is the new Buzz word in the cybersecurity arena. Ever since, Forrester Analyst, Kindervag introduced the term Zero Trust in his article “Zero Trust Architecture”, traditional security measures have become obsolete. Zero Trust is a security framework that is based on an “I Trust No One” principle; it doesn’t matter if the user is within or outside the organization. A user is not granted access unless he/she is authenticated and authorized first.

Recently the US Department of Defense (DoD) cyber-perimeter had been breached by state-sponsored and individual hackers. Vulnerabilities exposed by data breaches inside and outside the DoD demonstrate the need for a more robust cybersecurity framework that facilitates risk-based protection. In October 2022, it released the “DoD Zero Trust Strategy” and road map.

As the world fitfully rebounds from the recent Covid-19 pandemic, both our personal and professional lives will be altered. A recent survey by Gartner revealed that 74% of CFOs and Finance leaders said they will move at least 5% of their previously on-site workforce to permanently remote positions post Covid-19. Organizations will evaluate rent costs, health risks, and productivity benefits in the new environment. Some office space will be released.

As cyber security threats become more complex and sophisticated, old strategies of dealing with these threats are no longer complete. Security and risk management have become a top priority for organizations. New regulations and laws have been passed to protect consumers’ personal information. Organizations are strengthening their security measures and gearing up to defend themselves against ransomware and supply chain attacks. Given below are some top trends to watch out for in 2023..