The digital economy relies on trust as one of its key currencies; the other currency is time. Cyberattacks erode not only the psychological currency of trust in organisations, but also that of customers in organisations’ ability to withstand future breaches and protect their interests, says cybersecurity multinational Intel Security South Africa and sub-Saharan Africa regional director Trevor Coetzee.

When a breach occurs, time is paramount – detecting and remediating threats as quickly as possible are the objective. However, the time it takes an organisation to respond to breaches depends on the tools, policies and policy structures that are in place before a threat is even identified.

Cyberdefences focused primarily on protecting financial assets are, therefore, inadequate, he says, adding: “Most organisations’ divisions have separate security policies, which slow down response times. An information technology (IT) strategy that allows for new technology to be implemented rapidly will ensure that new software releases will not hinder productivity and that software updates are not time consuming.”

From an organisational IT point of view, adopting technology platforms that accept new security software quickly results in a better-aligned cybersecurity ecosystem. Further, companies should develop a spectrum of response plays and not just plan for worst-case scenarios.

“No single solution can eradicate all threats. A platform is required that allows for swift on-boarding of new technologies over an architecture supported by common tools and workflows, along with automation and orchestration capabilities, and that does not multiply operational complexity for already overburdened staff,” explains Coetzee.

An integrated platform also provides the benefit of accessing the aggregated innovative capabilities of hundreds of potential players, all connected over the same infrastructure. This improves the information available to cybersecurity staff and improves the security stance of an organisation.

“If we are to secure the now indispensable Interned-based Second Economy, we have to reject conventional defence paradigms in favour of radical new thinking. We must be unpredictable. Where we have hoarded information, we must become collaborative. Where we have undervalued cyberdefence, we must prioritise it,” avers Coetzee.

“We need bold information sharing. By hoarding information, we make the Second Economy more vulnerable. Better defence depends on better sharing the impulses of detected malicious attacks with the broader industry. Information sharing by cyberdefence organisations can help to change the culture.

“Our economy is no longer a physical one, but one of connected networks and systems where cybercriminals have put us on the defensive. Cyberdefence is a race against time and necessary to protect trust in our brands,” concludes Coetzee.