Data security: Five developments to consider in 2023

Data is the new oil, the new oxygen, or the lifeblood of a company. Whichever metaphor best applies, without access to critical data and systems, a company is paralyzed while competitors pass by. That's why they should stay up to date on the latest threats to their data, as well as the tools they use to protect it. Arcserve, an established manufacturer of data protection solutions, describes five developments that will impact how businesses secure and manage their data in 2023 and beyond.

1. the hypothesis of a massive SaaS outage as a wake-up call

Still hypothetical at the moment, but the first major software-as-a-service outage could occur as early as 2023. In this case, it will very quickly become apparent that data backup and recovery are the top priority. Companies around the world are increasingly using software as a service instead of running their own locally installed IT infrastructure. Here's a fictitious example: If a service, say Microsoft 365, had a major outage, what then? Well, many large SaaS providers guarantee the reliability of their service, but not the security of the data. That's the responsibility of the companies, meaning the users. And that's why they need third-party software to survive an outage and protect the data in the long term.

In addition, companies should focus on the 3-2-1-1 strategy (or extended: 3-2-1-1-0 rule) to back up their data. This strategy involves creating three backup copies of the data on two different types of media (e.g., hard disk or tape), with one of these copies stored in a different location for disaster recovery. And the last aspect is Immutable Object Storage. Immutable Object Storage is a next-generation data protection tool that continuously protects data by taking an immutable snapshot every 90 seconds. This guarantees that companies can quickly recover their data even in the event of a major SaaS outage.

2. cost savings will do more harm than good

In view of rising energy prices and extreme inflation, companies will be optimizing costs in 2023. One thing should definitely not happen in the process: Cutting back on data protection. Even as companies review their operating expenses to offset some of the inflation, they must continue to invest in protecting, storing and securing their data.

Data protection may seem like an area where you can easily save some money. But any curtailment of data security will result in higher costs. According to the latest IBM Cost of a Data Breach 2022 Report the average cost of a data breach worldwide is $4.35 million. In 2023, it will be even more important to recognize the importance of data and ensure that any budget cuts have minimal impact on business operations and assurance.

3. companies will have to use their security budgets wisely

It is likely that, despite this, many companies are also cutting back on security measures. Those that do should be aware that this is exactly when cybercriminals strike. Cyber thieves are always on the lookout for vulnerabilities to exploit. For this reason, companies should proceed with caution when it comes to cost-cutting measures and examine how they use their budget for data security.

Most companies today invest in basic security technologies such as firewalls, antivirus, and intrusion detection solutions. But they should be aware that cybercriminals will inevitably breach these safeguards at least once. Companies should have a plan for this possibility and allocate their security budget accordingly. For every franc or euro they spend on firewalls or antivirus solutions, businesses should invest another franc on solutions that will help them secure their data and recover from a cyberattack.

4. enterprises need solutions for protecting data at risk from remote work

During the pandemic, most companies adopted remote and hybrid working models. Many will continue these models in 2023 because they know it will benefit them financially while ensuring employees are happier, more engaged and more productive. Many people prefer to work from home rather than commute to the office for a variety of reasons. As a result, companies can, for example, reduce their energy costs if fewer employees are in the office, or they can even reduce their office space.

But they need to be aware that as remote working increases, their data becomes even more fragmented or distributed, increasing their vulnerabilities. As hybrid working becomes more prevalent, organizations in 2023 will need to find simple, cost-effective solutions to effectively secure and protect their data in home office environments without committing additional resources or capital.

5. enterprises using cloud services for data backup and recovery will look for hosting partners that accurately report Scope 3 emissions

In many countries, large companies are required to disclose their CO2 emissions and their contribution to slowing climate change. The problem is that there are no global standards for this disclosure. Companies measure their emissions in different ways, making it difficult to compare performance in this area. In addition, most companies only report on the emissions they produce themselves, such as those produced by heating offices. These are referred to as Scope 1 and Scope 2 emissions and represent only a fraction of total emissions.

Most emissions are attributable to Scope 3. This means that they are generated - today and in the future - by the activities of all actors in a company's value chain. Scope 3 emissions have an enormous scope and are largely not recorded. Thanks to this "blind spot," companies can easily claim that they will be a net-zero company by 2050 because they do not have to report all CO2 emissions from the entire value chain. In 2023, for example, cloud companies will have to accurately report their Scope 3 emissions or face suspicion of greenwashing. And companies that use cloud services for data backup and recovery will look for partners that accurately report their Scope 3 emissions to act as responsible companies.

Conclusion

In today's increasingly fast-paced and unpredictable world, business challenges of all kinds are becoming harder to identify and solve. Data protection is one of them. Companies that face and solve these challenges in 2023 will use innovative tools and strategies to secure their data and, in turn, their business.

Source: Arcserve