Tech Trends: How Pandemic-Driven Digital Transformation is Testing Cybersecurity

Since the beginning of the pandemic, cybersecurity has topped the list of things keeping CIOs up at night. With the overwhelming shift to remote working, enhanced IT infrastructure and digital collaboration tools have become a necessity, while simultaneously cybercrime has become more prevalent than ever.

A recent survey by Microsoft outlined the pandemic’s impact on the acceleration of companies’ digital transformation efforts, noting that “providing secure remote access to resources, apps, and data” was the top challenge reported by security leaders. According to the data collected, the top five cybersecurity investments since the start of the pandemic have included:

• Multi-factor authentication (MFA)
• Endpoint device protections
• Anti-phishing tools
• VPN
• End-user security education

In response to the demand for enhanced security efforts, the same Microsoft survey found that only 58 percent of business leaders reported budget increases for security. But amid challenging economic times, cash preservation remains top of mind, as liquidity is critical to sustaining business operations.

Another recent Malwarebytes survey of more than 200 managers, directors, and C-suite executives in IT and cybersecurity roles found that 24 percent of companies said they paid unexpected expenses specifically to address a cybersecurity breach or malware attack following shelter-in-place orders. Twenty percent of the companies also reported facing a security breach as a result of a remote worker.

For many companies, there will not be a return to the “old” way of working; digital transformation changes are here to stay. Security efforts will continue to underpin resources and collaboration tools designed to increase productivity and improve the remote working experience.

The IT channel can manage their customers’ unique needs by offering flexible installment payment options to support the acquisition of security solutions. Customers keep cash and protect credit lines by spreading payments over time to deploy needed solutions quickly, without budget creep. Providing payment options to customers eases cashflow concerns and provides the technology they need versus what they have budgeted for.

To discuss how payment solutions can support your customers’ digital transformation and cybersecurity measures, please contact us. And be sure to register for our first Tech Trends LIVE webinar featuring guest speaker Susan Middleton from IDC later this month.