By the time you finish this article, there will have been at least three attempted cyber-attacks on British businesses. Hackers strike on average every 39 seconds1. Is your company secure enough if you were next?
Even before lockdown, more than two-thirds of business leaders felt their cyber security risks were increasing2. Now, Google is blocking 18 million hoax emails a day3 – and this is just the tip of the iceberg of potential threats.
The move to remote working requires a stronger line of defence. But protecting against cyber threats across different networks and locations shouldn’t mean a sacrifice in speed or flexibility. In fact, they should go hand in hand. This is what we see as being the new frontier in connectivity.
Follow the yellow tech road
They say there’s no place like home – and cyber criminals certainly agree. It’s where business security is at its weakest. Almost two-thirds of employees have been working from home during COVID-194, and remote applications have become critical to daily operations.
This has opened up more space for vulnerabilities. Some 77% of security professionals anticipate a critical infrastructure breach in the next two years5 – and with good reason. The UK’s National Cyber Security Centre (NCSC) handled a record number of cyber security incidents over the last year, a 20% increase since 2019.6
The worry of increased risk means businesses are looking for a makeover when it comes to their home connection, and they’re reprioritising their budgets in this light. As a result, the information security market is forecast to reach $170.4 billion in 20227, paving the way a big opportunity for solutions that offer productivity as well as protection.
Mind the connectivity gap
The number of near-constant cyber-attacks carry new weight now businesses are working across multiple devices and locations, but no business wants to sacrifice productivity. This creates a gap between performance and connectivity that organisations are looking to fill.
Flexible working has been shown to reduce staff turnover by 87% and boost performance by 20%8. While this may have the edge over the classic nine-to-five, its success depends on a fast connection. Efficiency may be a non-negotiable in the new normal, but improved output is only a bonus if it’s also secure.
Businesses are encouraged more than ever before to spend on solutions such as Dedicated Internet Access, where ultra-fast also means ultra-reliable. It’s accredited to carry secure government traffic, a benefit which carries more weight in the age of the digital divide, where businesses are after technology for lasting change9.
Private networks come into play
Private networks are the new Zoom of home working. This is especially true when it comes to businesses deploying smart technology, where 97% of executives10 currently use, or are considering using, a private network to safeguard them against increased threats. Certainly, almost two-thirds (61%) of SMEs are concerned about the security of home workers data, according to recent research by Vodafone.
Networks such as IP-VPN are seeing a boom thanks to its safe site-to-site connectivity through a single private network. Businesses looking for enhanced security as well as transformation are moving to the technology for the offer of safer shores.
Purchasing patterns for long-term remote working are also favouring remote working tools. More than a third of senior leaders11 are prioritising investment in remote collaboration technology in the next 12 months , but they’ll need secure connectivity to support it.
Fortunately, even with a recession looming, budgets are still strong for security. Almost half (46%) of IT leaders named IT security the biggest investment priority for 202112.
But it’s a balancing act. Businesses want to supercharge working with new tech without being hampered by a ‘computer says no’ approach. If remote working is going to continue to thrive beyond the current crisis, it needs to be airtight when it comes to secure information and sensitive data.
In 2020, organisations spent approximately £2.9 million recovering from data breaches – as well as the untold cost of losing customer loyalty.
It might feel pretty cosy working from home, but businesses shouldn’t get too comfortable. Companies looking to keep up the momentum of remote working should also ensure their networks and software are secure, or risk far more than a lapse in productivity.
In 2020, organisations spent approximately £2.9 million recovering from data breaches13 – as well as the untold cost of losing customer loyalty. Cyber-attacks may be relentless, but we want our customers’ connections to match up in both speed and security. That’s what our new frontier in connectivity can deliver.
Find out more about how working with Vodafone can open up new possibilities for connectivity
The advent of a new broadband is here, and you can rely on us to deliver a robust network backed by great support and industry-leading connectivity.
We’ll give you access to the best training, latest innovations, and sales and marketing resources to advance business growth. This will make it easier to build better businesses together and create a new frontier in connectivity.