Most businesses today understand that cybersecurity should be a central part of their operations. Still, more often than not, professionals view security as an extra feature, something to add on after settling everything else. This has been the predominant approach for years, and it’s part of why so many companies find themselves vulnerable. Rising cybercrime has made the need for change increasingly evident, and many companies are responding.

EDRM sometimes referred to as Information Rights Management (IRM) is a core-data-centric technology that offers uninterrupted protection to unstructured data. It protects sensitive information/data everywhere by managing and enforcing access and usage rights to the information throughout its lifecycle, no matter where the information is distributed. EDRM controls how employees and partners use sensitive information.

Cybercrime and cybersecurity challenges have escalated during the Covid-19 crisis, particularly in the manufacturing and design industry. The pandemic has also led to an increase in remote working style creating a wide attack surface. With no time to implement safety security measures to prevent breaches and attacks, no organization is entirely immune or safe. Another cause of concern for the manufacturing and design industry is the upsurge in external partners and suppliers.

Workplace collaboration has been steadily evolving from sharing of information through simple email attachments to more sophisticated cloud-based applications sharing. In the business world, where every organization is garnering unique business practices to gain a competitive edge, data is the king. This means that data has to be shared between organizations, where both mutually benefit. Access to the right information adds clarity and helps in faster decision-making.

While cybersecurity is a major concern for all tech-enabled businesses, it is more so for the supply chain where hand-off happens from raw materials to delivery of a product or service. All the functional areas are potential touchpoints where cyber-attacks can happen.

Cyberattacks are becoming a regular feature in the global market. The scale and variety of these attacks have grown considerably. The recent pandemic has spiked such attacks and many Covid-19 scams ranging from social media posts, smishing (small message phishing), phishing, ransomware, have skyrocketed this year.

Zero Trust teaches us to never trust, and always verify. Therefore, one has to always authenticate and authorize based on all available data points such as user identity, device health, data classification, and anomalies, etc.

The rapid proliferation of digital content and the increasing sophisticated cyberattacks has forced enterprises to resort to Enterprise Digital Rights Management (EDRM) to protect their important data and information. Insider attacks are one of the most serious cybersecurity threats. Among all insider attacks, information theft is considered the most damaging in terms of potential financial loss.

The biggest boon to enterprises is the advent of the concept of data collaboration. Effective collaboration calls for data sharing not only within an enterprise but also amongst different enterprises. This sharing of data at a granular level leads to a situation where everyone has access to all information available in the enterprise without any security.

Artificial Intelligence, a digital sharing economy, and various services are changing every aspect of our lives. Global powers are competing for a bigger presence in the new digital economy and trade. Information is the cornerstone of the digital economy. The freedom and openness of the internet, as well as the removal of trade barriers, has opened a new battleground. The recent Covid-19 pandemic has opened a Pandora’s Box with cyber-hackers having ready access.