Businesses around the world are boosting their 2022 IT budgets by 3.6% — the largest increase in a decade — according to a survey by Gartner. Many of the study’s respondents are raising their spend on cybersecurity, likely in preparation for more varied and advanced cyber threats next year.
If your business is following this trend, one key area you need to focus your cybersecurity investments on is Endpoint Detection and Response (“EDR”) security.
What is an endpoint?
“Endpoint” is a broad term encompassing any computing device that is connected to and which communicates with a network. Examples of endpoints include many electronic devices used in the modern office, such as workstations, laptop computers, smartphones, servers, web-connected printers, and Internet of Things (IoT) devices.
What do Endpoint Detection and Response tools do?
Criminals can hack into endpoints — via problematic application programming interfaces, for example — and use them as entry points into your organization’s network. This way, criminals can steal your company’s data, spy on your activities, and infect your network with various types of malware.
Endpoint detection and response tools are a range of security solutions with the following main functions:
- Continuously monitor and collect activity data on any endpoint that can potentially be a threat to your organization
- Analyze collected data to identify possible threat patterns
- Respond to any identified threat, whether by removing or isolating the threat, and/or informing security personnel of the incident
Why do you need these tools in 2022?
Cyber threats are a constant concern for businesses. The following factors are just some of the reasons you should invest in endpoint security next year:
Hybrid cyber attacks
Traditionally, cyber criminals employed a single method or tool when attacking businesses. For example, a brute force attack simply involved hackers plugging in various character combinations to crack passwords and access sensitive information. In contrast, hybrid cyber attacks utilize two or more methods. For instance, cybercriminals may use libraries of stolen login credentials in tandem with conventional brute force tactics to raise their chances of successfully guessing passwords.
Real-time detection and response are critical to help to neutralize the threat posed by hybrid cyber attacks. Endpoint security combines artificial intelligence and human expertise to identify an attack as it happens and address it before it can impact your business’s operations.
In RaaS, cybercriminals design ransomware and allow less skilled crooks to use their creation for a fee. This makes ransomware accessible to more people and increases the likelihood of your business suffering a ransomware attack. For reference, Sophos estimates the cost of recovering from a single ransomware attack — including the ransom paid, penalties, downtime, and other expenses — to be almost $2 million in 2021.
Many ransomware attacks involve cyber criminals hacking into the victim’s network to spread the malware further and steal data. Securing your endpoints makes it more difficult for attackers to do this, reducing the risk of an incident succeeding and minimizing the impact to your business should an attack occur.
Always Connected Devices
Widely available internet connectivity is available for most systems, which can also pose an increased threat. That is, cyber criminals can hack into and take control of your work devices to disrupt your operations and steal and expose your data when you are outside of your office’s network and the typical enterprise-class firewall that is protecting many office networks.
The best way to protect your business is by implementing a combination of security solutions meant to bolster your endpoints’ defenses. These include anti-tampering measures that can help prevent outsider access, enforce encryption to render endpoint data unreadable to unauthorized users, and provide increased endpoint security for real-time response to potential cybersecurity incidents.
Flexible working arrangements
Many businesses are returning to a completely office-based system, but some are adopting flexible working models through either a fully remote or a hybrid work setup. Flexible working arrangements promise various conveniences to both employers and employees, but they also open businesses to various cybersecurity risks. This is especially true if employees use their personal devices for work. Not only are personal devices often not equipped with enterprise-grade security solutions, but they may also be used by their owners to access risky websites and files.
Endpoint detection and response solutions provide cyber security threat analysts working in a Security Operations Center (SOC) with a clearer view of how your employees’ devices interact with your network. These tools can single out potentially harmful files, activities, and incidents and help prevent these from affecting your network by isolating infected machines and preventing a security breach from moving laterally within an organization’s network.
An attack against critical business endpoints can hinder your business’s productivity and lead to downtime, among other problems. At Fidelis , our experts can equip you with endpoint security solutions that meet your business’s needs and improve your ability to overcome cybersecurity challenges in 2022.
Discover other ways to avoid downtime by downloading this free eBook today.