Updated: Oct 5, 2021
This is part of our Cybersecurity Awareness Month (#CSAM) expert insights blog series.
Cybersecurity has become quite the mainstream topic since the rapid adoption of remote work due to COVID-19. In addition, the mass influx of data breaches and high-profile hacks have driven regulators and government agencies to engage in a more aggressive rollout of new policies. ConnectWise execs weighed-in on what cyber initiatives and regulations they believe organizations need to prioritize and look ahead to.
Steve Cochran, CTO, ConnectWise
"In 2021, we will continue to see heavy investment in and expansion of remote work tools like Zoom and Microsoft Teams. While these technologies will continue to evolve, bad actors will constantly try to take advantage of the remote situation. The software industry needs to respond from an application security standpoint. It will be more important than ever to maintain your team’s security training and awareness and factor in security from the beginning, as most security breaches come from within the application.
There will be many opportunities for growth for companies willing to take the time to understand their customers. For example, businesses around the world are reinforcing their remote work strategies and need a trusted advisor to strengthen their advanced security solutions and ensure that employee’s devices are protected. There is also a huge opportunity for the channel to educate SMBs about regulation, compliance and best practices."
Wes Spencer, VP, External CSO, ConnectWise
“Let's admit it. Cybersecurity feels like a losing game. Breaches happen everywhere we look. It seems like no effort we make is really making a difference. And beyond that? Ransomware threat actors are spotted on the news driving camo green Lamborghini Aventadors. I can understand any SMB just wanting to give up in exasperation. But there is hope, and it comes in the form of cyber resilience.
If you've never heard of cyber resilience, don't be shocked. It's a decade old term that is finally being revived amidst our travails but is now shining light as a powerful solution for MSPs and their SMBs. In short, cyber resilience is a renewed focus on keeping an organization resilient and operational in the midst of adverse cybersecurity conditions. Translated thus: let's build resilience to keep our organization functional when, not if, the big cyber attack happens. It allows us to focus on faster response and recovery to any threat. To be clear, we should not give up on prevention, we simply need to have a new focus on cyber resilience. After all, if we're unable to stop all cyber attacks, maybe we should start to focus on making them less impactful when they occur.”
Jay Ryerse, VP Cybersecurity Initiatives, ConnectWise
“Cyberattacks doubled last year, and with many workforces transitioning to remote work in 2020, it is important that companies look into and invest in making their newly dispersed teams secure. In an effort to keep up with demand, companies will pivot towards automation and streamlining the various security products that exist and aligning them whenever possible. For example, attack techniques are changing, and with people working from home there has been an increase of phishing attacks on targets’ family members as they are now sharing equipment and networks while working on sensitive business data on a daily basis. The demand to double down on cybersecurity to tackle the new challenges that come with a remote workforce will see many companies turning to MSPs to address the volume of attacks, for education, and help reducing risk in 2021.
Next year will also see an increase in legislation around privacy. In the US, California, Nevada, and Maine led the way but now 23 states have adopted similar regulations. We may also start to see legislation regulating MSPs. In fact, Louisiana has already done that, and other states could follow suit. If that happens, we’ll see a lot of forward-thinking MSPs investing in education and attracting talent to close their cybersecurity skills gap and leverage that legislation as a competitive differentiator in the market.
Finally, we’ll continue to see heavy private equity investment in the MSP space, leading to further consolidation, as well as private equity buying security companies at a rate that’s probably unprecedented. The objective of these consolidations may be to gain market share and intellectual property while streamlining delivery of secure services. It will likely drive market separation for the largest providers and conversely, create an opportunity for smaller providers to enter the space and meet the demands of delivering security service at scale.”