cloud computing

GREAT OPPORTUNITY TO ENHANCE BOTTOM LINE

The shocking hacking of Wipro employees’ email accounts has opened the eyes of the market that if the 4th largest IT company of India can be hacked then every company can bear the brunt of the hackers. To remind, Wipro is not only an Indian IT major but also one of the large IT services companies on the earth, which offers IT services to most of the large Indian and global companies including the names like Vodafone, Telenor, HSBC, Citi, Domino’s (some location), Lloyd’s, IAF, Airtel, CITI Bank, NIC, MetLife, DIAL, BHEL, Walmart, Best Buy, T-Mobile, HP, Nokia, Philips, etc.

So, hacking of this nature puts every company associated with Wipro on a vulnerable point. The learning is that if Wipro can be targeted then every organization can be. Only difference is an ethical company like Wipro could dare to put it in public domain and bring everything under control before the menace spreads into major accounts which was the intention of the hackers though.

In 2018 alone India had seen 15,700 website hacks. Sophos survey had reported that 76 per cent businesses were hit by cyberattacks in 2018, while globally 68 per cent organizations had faced attacks. India was third in cyber-attacks in 2018 after Mexico and France. And the trail of the attack goes to money. So, where the money lies, attack follows it.

Another fact is that no IT staff including the leadingship like CIO or CISO, can make any sense of what is happening until the attack happens. They are always taken by surprise. Every one knows that the attacks are never sudden. It takes months for the hackers to penetrate into the system and they remain in the system for a considerable amount of time in search of the vulnerability. The challenge for the industry is that there is no prediction mechanism to predict impediments. Predicting, minimizing and averting attacks is a process, which needs processess and procedures. Apart from security solutions, the companies would now invest in VAPT.

Companies would now invest on AI & ML based solutions aggressively. Authentication and data governance would be another area where the enterprises would like to increase their investment. Today, most of the security vendors are offering solutions with AI & ML, which can avert the zero day attacks.

So in a nutshell, security offers a great market opportunity to the partners to ehange their bottomline. After the incident like Wipro attack, other companies must have started counting their days and it expands the opportunity to work closely with them.