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Risk Management: Opportunities For Business And IT To Cooperate On IT Risks

The new “IT Trends Report 2021” from Solarwinds examines how IT professionals perceive the changing risk situation in business environments, particularly the threat posed by external security breaches. The experts also explained how they assess internal risk management.

SolarWinds has now published the results of the eighth annual IT trends reports entitled “Building a Secure Future”, precisely eight months after the large-scale and complex sunburst cyber attack. It is part of the commitment of the IT management software provider as a pioneer in collaboration and transparency in the industry to prevent future cyberattacks through risk management. In addition, technical experts are to be supported in dealing with the new threat landscape.

The report examines how tech experts assess risk management and the state of preparedness for risk reduction in their company after the global pandemic has driven rapid transformation for the past year. The study analyzes the current risk situation in the IT industry. It provides companies with a guideline for risk management that includes workplace strategies, toolsets, preparatory measures and guidance on becoming a risk-resistant company.

IT Risks Due To Incomplete Security Guidelines

Over the past year, many companies have adopted several new technologies in a short space of time to help keep business up and running during the pandemic. Tech professionals needed to support a globally dispersed workforce while managing the rollout of public cloud services. In this situation, almost every industry saw an increase in sophisticated cyber attacks that exposed the potential risk of incomplete security policies and procedures.

This hitherto unique upheaval became a powerful catalyst for a more comprehensive investigation of the endangerment of companies from IT risks of all kinds. These include IT risks that only arose as a result of distributed remote work. The extent to which companies are prepared to manage, minimize and avoid future risks was also examined.

Risk Management: Corporate Apathy And Inaction

The results of the “IT Trends Report 2021” show that almost all companies are exposed to IT risks, but that after a year of pandemic-induced “crisis mode”, there is often a perception of apathy and inaction. Tech professionals have highlighted critical tech investment and education: prioritizing artificial intelligence/machine learning, cloud-hosted database platforms, and security and compliance.

This reflects the awareness that the most significant risk is falling behind with new developments. This year’s study shows the immense opportunities that arise for technology experts and IT executives when working together on priorities and guidelines to be successfully prepared for future risks not only as an individual company but as an industry as a whole.

Secure Performance For Remote Workplaces

“Tech professionals today are under even more pressure than before to deliver optimized, secure performance for remote workers while having limited time and resources to train staff. Risk management and mitigation are about prioritizing targeted investments in technical solutions that meet business needs,” said Sudhakar Ramakrishna, President and CEO of SolarWinds.

“Tech professionals need to work more closely than ever with senior management so that they have the resources and people to address security risks proactively. More importantly, technology experts should continuously review their risk management, countermeasures and protocols so that they don’t feel as though they are wrong and overlook risks. “Experts are well prepared for risk management strategies.

The surveyed technology experts perceive their companies to be well prepared concerning risk management and risk reduction strategies, even if they are exposed to IT risks. Seventy-nine per cent “agree” or “totally agree” that their IT department is prepared to manage, mitigate and avoid risk factors with the policies and procedures already in place.

This result is also reflected in a careful approach to introducing and implementing technologies that responded to the changing demands of distributed work environments during the pandemic. Thirty-eight per cent of respondents said they followed standard or enhanced risk management protocols despite accelerated schedules. Another 18 per cent did not speed up their programs and stuck to their tried and tested processes.

However, according to a recently published McKinsey report, technology professionals and IT departments need to be careful not to lull themselves into a false sense of security in today’s ever-changing risk landscape. Risk management strategies should be regularly developed and designed to be future-proof.

Secure By Design Guide To A Safer Future

With “Secure by Design “, SolarWinds has taken the initiative to react to the industry-wide effects of the sunburst cyber-attack and to improve its security situation in the future. SolarWinds focuses on securing its internal environment, enhancing its product development environment and ensuring the integrity of the products it supplies. With these measures, the provider wants to become the industry leader in secure software development.

Findings from Sunburst’s investigation allowed SolarWinds to lead an industry-wide initiative for transparency and collaboration and create a new model for secure software environments, development processes and products. In partnership with former CIA director Chris Krebs and former Chief Security Officer of Facebook and co-founder of the Krebs Stamos Group, Alex Stamos, SolarWinds is developing best practices for improving security measures and guidelines in its own company. These also serve as a guide for other companies to prevent future attacks.