The global pandemic has tilted the scales in favor of cybercriminals, who adapted their attack strategy to exploit the vulnerabilities in the existing security systems in the organizations. Added to this, the global mindset of businesses to shift to a remote and hybrid work environment has exacerbated the threat landscape resulting in high ransomware attacks and data breaches across the industries and geographies.

While EDRM is the only solution available to solve the security problems of unstructured data, oftentimes the term EDRM itself is the most dreaded one for many organizations. This is because many EDRM projects have failed miserably. These projects have failed because of overzealous policies, loss of control over the policies, and no proper implementation guidelines. This oftentimes leads to access being denied to those who are authorized to have access.

Cybersecurity is a leading concern for businesses in 2022. As organizations have embraced rapid digitization, cybercrime rose alongside it, quickly illuminating how many security standards fall short. It also became evident how cybersecurity regulations need to expand to address today’s challenges. Here’s a closer look at how this regulatory landscape is shifting, why, and what businesses can do in response.

For many years, it’s been said that data is the new oil. This means that data rich companies could well be more successful than their competitors. Data and information are like fuel for companies since both are needed for ongoing business transactions and innovation. Companies can only win the race against their competitors if they are not losing this fuel, meaning they must keep data secure at all times and anywhere.

We are all too familiar with the ongoing war between Russia and Ukraine. Amidst this crisis, the deputy chief of Ukraine’s state service of special communications and information protection Victor Zhora quoted that his department was planning for a contingency to be ready for any Russian threat to seize sensitive government documents.

There is no doubt that digital transformation is changing the way people coordinate and work. While it is a blessing in many ways, as it keeps businesses and people connected by creating opportunities and easy exchange of information, it has also paved way for cybersecurity risks. Ransomware, Phishing, data breaches, denial-of-service attacks have become increasingly common and threaten businesses of all sizes.

The Ukraine-Russia conflict has captured the world’s attention, but the physical warfare only tells part of the story. In the weeks leading up to the invasion, seemingly state-sponsored cyberattacks against Ukraine have risen, and now experts fear this may spill over to other nations, too. While much about the conflict remains uncertain, it will undoubtedly have a profound impact on cybersecurity across the globe.

This is a data-driven era. Every day tons of data are generated and it is a herculean task to manually provide security to all the data that is produced. Large enterprises generate huge amounts of data that are maintained by ERP systems like SAP. Transactions with third-party vendors and partners happen almost every day with lots of data being exchanged.

All companies are moving towards a digital landscape. Developments in the design and manufacturing industry have expanded the innovation of p roducts as digital collaborations are increasingly enabled from concept generation to product realization and after-market. These collaborations expand beyond the enterprise and national boundaries, leading to growing concern about the security of their sensitive information such as Intellectual Property (IP) and trade secrets.

As organizations became increasingly interconnected globally, every business started adapting to the digital model for all their transactions, fearing that otherwise they would be left behind in the race. Unfortunately, this has turned out to be a catch-22 as threats to cybersecurity are continually increasing. The rise in attacks was partly due to Log4j that helped to boost the cyberattack attempts to an all-time high in Q4 2021.