Why Endpoint Protection Is Critical
Despite the growth in IT security technology, endpoints remain vulnerable and organizations continue to be exposed to threats.
Why Safeguarding Endpoints Is Important
Organizations have amassed a formidable array of security technology over the years. Anti-virus, malware protection, intrusion detection/prevention systems, firewalls, access controls, zero-trust architectures, threat intelligence, security and event information management, endpoint detection and response, and more.
Yet endpoints remain vulnerable and organizations continue to be breached.
The Cost of Endpoint Vulnerabilities
A study by the Ponemon Institute found that the bulk of cybercrime is perpetrated via an endpoint. That report places the losses associated with a single endpoint breach at $8.94 million on average — that’s a lot of money. And it’s a number many would question. What has to be understood is that actual dollar losses are not the major element in the calculation.
The $8.94 figure was determined based upon direct economic losses via theft or ransomware, as well as a figuring out the monetary value of lost productivity, system downtime, infrastructure damage, legal costs, and brand impact. The largest portion, it turns, out is not the financial losses. Productivity losses associated with a breach accounted for the highest amount.
Yes, the company had to fork over a ransom. But Ponemon research had found productivity losses following endpoint attacks as the biggest area of financial impact. This finding has held true now for several years in what has become an annual report on the true costs of system breaches.
Take the case of a financial services provider or an oil and gas firm that is down for hours; the revenue losses mounts up fast. Similarly, thousands of personnel being unable to access their systems for several days adds up to a hefty sum in terms of wasted salaries and company profits.
Theft of information is in second place in the Ponemon study. Proprietary information, intellectual property, and confidential databases have value on the dark web and are eagerly sought after by criminals. Thus, it is essential to properly safeguard these assets.
More Security or Better Security?
Quite often, the answer to a surge in attacks is some heavily-hyped new technology. The sales pitch goes along these lines: your existing security arsenal is no longer enough. Therefore, add W, X, and Y, and you will be protected. A few months later, W, X, and Y are no longer sufficient. It is time to implement Z!
Rather than continuing to splurge on the latest and greatest, then, a better approach might be to review what you are doing, what is already in place – and do it better.
Patch management serves as a good case in point. Most organizations think they do a decent job of patch management. Yet vital security patches can go unaddressed for months, distributed patches may not be applied to all machines, and patching can become bogged down in internal approvals, sluggish testing procedures, and manual procedures.
How to Build a Better Patch Strategy
There is a way to do patch management far more effectively. Syxsense Secure offers intelligent and automated patching. Patches issued by vendors to fix holes are reviewed, tested, and distributed by us within three hours.