A recent survey in the Philippines by Fortinet looked at how companies are dealing with cybersecurity problems. Here’s a breakdown:

  1. Biggest Concerns: More than 50% of companies worry about phishing and ransomware attacks. These are when bad actors trick people into giving away sensitive information or lock up computer systems for ransom.
  2. Ransomware Increase: Ransomware attacks have doubled, with 56% of companies reporting a two-fold rise in 2023 compared to 2022. The main ways these attacks happen are through phishing (tricking people) and malware (harmful software).
  3. Challenges of Remote Work: Many companies (82%) feel that working from home has led to more insider threats (issues caused by employees). This is often due to lack of training, carelessness, or poor communication.
  4. Limited Resources: Only half of the companies have dedicated IT resources for security, making it tough for them to strengthen their security measures.
  5. Automation Helps: Most companies (94%) use automation tools for security, but there’s still room to use these tools even better. Automation has made things faster, with 92% reporting improved incident detection times.
  6. Future Plans: All surveyed organizations plan to implement more automation tools in the next year. They want to use these tools to respond to incidents faster and recover more quickly from cyber threats.
  7. Top Priorities: Companies are focusing on improving network and endpoint security, making sure staff are aware of cyber threats, enhancing threat hunting and response, updating critical systems, and performing security audits.

Simply put, companies are worried about online attacks, especially phishing and ransomware. Remote work has made it more challenging, and many companies feel they don’t have enough resources. Automation tools are helping, and companies plan to use them even more in the future to tackle cyber threats. Their main goals are to respond faster to incidents and make their overall online security better.

About the Survey

The survey was conducted by Fortinet, a global leader in cybersecurity. They partnered with IDC (International Data Corporation) for the research. The participants in the survey were 550 IT leaders who make or influence security decisions for their organizations in the Asia-Pacific region. These leaders work in companies with a global headcount ranging from 250 to over 5,000 employees. The survey covered various countries, including Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, Singapore, South Korea, Thailand, the Philippines, and Vietnam. The data was collected between October and November 2023, and the findings were summarized in an IDC Executive Summary sponsored by Fortinet in December 2023.

How Fortinet can help

Fortinet offers comprehensive solutions to help companies address their cybersecurity challenges. Here’s how:

  1. Advanced AI and Automation to enhance security operations. This includes automated responses to threats, incident detection, and containment, streamlining processes and improving efficiency.
  2. Security Operations Solutions backed by AI. These focus on incident detection and response, ensuring a swift and effective reaction to cyber threats. This helps organizations reduce the time it takes to detect and contain threats.
  3. A Holistic Approach to cybersecurity. This involves considering various aspects such as threat intelligence, automated responses, and maximizing visibility to optimize operational efficiency. This comprehensive strategy aims to improve overall security posture.
  4. Innovative Solutions that boast impressive statistics, including an average time of one hour (or less in most cases) to detect and contain threats. They company also claims a substantial reduction in expected breach costs and a significant increase in team productivity.
  5. Addressing the Human Factor in cybersecurity. Fortinet emphasizes training and communication to mitigate insider threats. They address challenges arising from remote work by providing solutions that focus on staff awareness and communication.
  6. Continuous Adaptation. Because the cybersecurity landscape keeps evolving, the company emphasizes the need for vigilance, proactivity, and adaptability. This includes reassessing staffing, potential outsourcing, and integrating AI-assisted tools to stay ahead of evolving cyber threats.

In summary, Fortinet helps companies by providing advanced cybersecurity solutions that rely on AI, automation, and a holistic approach. Their focus on innovation, training, and adaptability aims to provide organizations a way to navigate the changing cybersecurity landscape.

Find out more by visiting https://www.fortinet.com/.

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