As businesses face a challenging economic environment in 2023, cybersecurity remains a top priority due to the increasing prevalence of cyberattacks and exploding data volumes. Even though 65% of organizations plan to increase their cybersecurity spending this year, organizations must not ease up on cybersecurity efforts. All businesses are at risk of cyber threats, and cybersecurity protection should be viewed as a continuous priority, with executive management involvement.
Ransomware attacks can be extremely costly for organizations due to extended downtime and exposure of sensitive data. Insider threats have become a significant risk for businesses in the current hybrid work environment, and centralizing data views can help reduce these risks. Lastly, vendors should expect greater scrutiny from buyers who demand more functionality and transparency to navigate the rapidly changing threat landscape.