2022 in Review – Top Stories and Trends Ahead

With 2022 winding down, over the next few weeks your organization must take a look at the year in review and identify shortcomings as well as celebrate wins. Between the cyber-attack on the government of Costa Rica, the rapid rise in cloud infrastructure and disaster recovery software, the increased flexibility that mobile device management has provided hybrid organizations, and more 2022 was filled with stories and trends to learn from. This week, join us to dive into some of the top stories, lessons, and trends observed in 2022 to plan successfully for 2023 and beyond.

The Cyber-attack on the Government of Costa Rica

In April this year, a ransomware attack struck 30 institutions of the government of Costa Rica. The government had to shut down systems which led to losses of upwards of $30 million per day. These attacks crippled some of the country’s essential services and sent the government scrambling for a response.

Statista reports that this attack was one of 236.1 million ransomware attacks that occurred just in the first half of 2022. Organizational readiness is of massive importance to large, medium, and small businesses alike. Any amount of downtime can lead to a monetary loss, credibility loss, and data loss. Surveys on the global cybersecurity market provide that the market is expected to reach a value of $403.1 billion by 2027. It isn’t a matter of if, it is a matter of when your organization faces a cyber attack. As we head into the new year, it is critical to examine your cybersecurity policies and re-evaluate them if necessary.

The Rapid Rise in Cloud Infrastructure and Disaster Recovery Implementation

Surveys conducted in 2022 report that 70% of respondents believe migrating to cloud infrastructure is their number 1 IT priority. A few of the major benefits of cloud infrastructure include:

Achieving business goals faster

Organizations face roadblocks around hybrid work, increasing asset availability, and reducing IT costs. Cloud infrastructure manages to overcome these hurdles.

Shift from capital expenditures to operating expenses

Cloud infrastructure falls under an operating expense, allowing for more predictability of monthly recurring IT costs and leading to a decrease in over-provisioning.

Additionally, it has been proven that security and data protection are other top driving forces for this migration. A successful cloud infrastructure can lead to a more effective disaster recovery process. When dealing with a cyber-attack, speed, efficiency, and processes are three of the most crucial components to business continuity. Read on here to learn more about the keys to a successful business continuity and disaster recovery strategy.

The Increased Flexibility Hybrid Work Model Provides Organizations

As we head into 2023, surveys and research show that 74% of U.S. companies are using or plan to implement a permanent hybrid work model. The model has proven to be successful both for employees and organizations. However, one of the big concerns that surround the hybrid work model is security; how can the organization secure its environment as successfully as possible?

Employees are using their own devices now more than ever to conduct work. This in turn leads to more endpoints where malicious actors can breach organizations leading to cyber-attacks. Enter mobile device management policies. Proper mobility management can create policies to monitor employee-owned devices, provide mobile application management, and so much more. To learn more about improving your mobile device and endpoint security and management you can watch an on-demand webinar recording here.

The mobile device management market is predicted to grow 24% year over year from 2022-2028 to a figure of $18.3 billion by 2028. The growth in the hybrid work structure directly correlates with the increased need for managed mobility service implementation.

Looking ahead to 2023 and beyond, it is clear that the xxx, rise in cloud infrastructure and disaster recovery implementation, and the need for managed mobility services with the growth of the hybrid workplace are key trends to continue to monitor and plan for. Establishing organizational readiness is crucial and as we wind down the year, in the coming weeks, take some time to look at your systems and processes, and test them to see if they are up to date and functioning as intended. To assist, download our tabletop exercise on security intrusion and use it to evaluate.