Safeguard Data, Achieve Automated Compliance and Reduce Cloud Adoption Risk with IBM Cloud
Prepare your organization to manage the risks brought on by multiple clouds.
The cloud has evolved from being a novelty to an essential backbone of today’s digital economy for businesses around the world. The seismic shift in business models has made companies appreciate the flexibility, stability, security, cost reduction and efficiency of operations offered by the cloud. All of these factors make cloud adoption a critical part of an organization’s digital transformation journey.
Increased hybrid multicloud deployments are also leading to an expansion in global attack surfaces. This increases the need for robust, all-encompassing security, compliance and risk management solutions from cloud service providers. Is your organization ready to manage the risks brought on by multiple clouds?
The real cost of data breaches and non-compliance
Data breaches are becoming more prevalent and getting more expensive and impactful than ever. As companies experience more breaches and costs continue to climb, they are looking to better manage this risk and limit potential losses.
According to IBM’s Cost of a Data Breach Report 2022, the global average data breach cost has now hit $4.35M — an all-time high that is up 13% compared to the same period two years ago. 83% of organizations studied experienced more than one data breach and quoted a lack of awareness of their cloud environments as the primary reason for this risk.
Regulatory non-compliance alone can cost a business three times the cost of maintaining or implementing compliance monitoring solutions. Non-compliance with GDPR EU can cost a company up to 4% of its worldwide annual revenue for the preceding financial year or €20 million ($23 million) — whichever is greater.
Considering the breach and remediation costs, reputational damage, business downtime and legal and regulatory compliance fines, the costs can be high.
Cloud security and compliance risks increase challenges in executing digital transformation strategies. Top challenges include the following:
- Restricted visibility across the hybrid multicloud deployments: The absence of continuous full-stack visibility into your hybrid multicloud environment creates blind spots across security and compliance postures at infrastructure, platform and application levels, which leads to knowledge gaps.
- Instability caused by unintegrated point solutions: Separate tools cannot provide the 360° view necessary to accurately assess security posture at an enterprise-wide level. This aggravates blind spots and can lead to errors.
- Addressing local and global regulations: Governing the transformation in the changing regulatory and industry compliance landscape.
- Automating security and compliance posture assessments and remediation efforts: Lack of ‘insights’ leads to a lack of prioritization of mitigation efforts from pre-deployment to post-deployment.
- Changing risk profile management: Automating cloud risk assessment caused by the changes in the cloud asset configurations and their impact on the overall risks.
Despite being aware of these challenges, 22% of the enterprises assess their cloud security posture manually. Only one in five organizations assess their overall cloud security posture in real-time. Threat actors are constantly targeting vulnerable cloud environments. To safeguard their businesses, enterprises need to stay a step ahead with continuous assessment and monitoring of their security and compliance postures in real-time.
Considering these challenges, an integrated approach to security, compliance and governance of the full cloud stack is needed from a cloud service provider partner.
Reducing security and compliance risks with IBM Cloud
IBM Cloud for Financial Services and regulated workloads with Caveonix provide a robust set of capabilities to secure data center infrastructure with strict security, compliance and governance controls of the highest standards. This, coupled with the continuous monitoring and reporting from development to deployment, ensures that the customer applications are always protected and meet all the compliance challenges in the global regulatory environment: