The world is at an inflexion point due to geopolitical and economic uncertainties in the aftermath of the Covid-19 pandemic.
Added to this is an era of rapid technological change which is bringing about a paradigm shift in the way we live, work and play. Enterprises and governments face unprecedented challenges on multiple fronts, NCS’ Senior Partner for Cyber, Foo Siang-Tse, said.
He noted that society has lived through many inflexion points in history (and) “responding at the fundamental level of what matters to our communities and businesses allows us to rise above the turbulence”.
Foo said NCS believes that the way to tackle uncertainties is to ask the right questions “to help us navigate these complexities, understand the risk organisations face and create the tomorrow we want”.
There is no silver bullet. There may not be a single answer to the questions we ask and there may well be more questions in our minds. More importantly, no one can solve all the problems alone; we need to collaborate, explore and co-create, he said.
Foo added: “Asking the right questions starts from understanding the communities that we serve and the businesses we are in. For various stakeholders, these questions may vary as their purpose and mission are inherently different.
“For governments and communities, the questions could be, ‘How do we make tomorrow healthier and more secure?’, ‘How do we make tomorrow sustainable and collaborative for our communities and countries?’ and perhaps even, ‘How do we make tomorrow human for every generation?’,” he continued.
Foo noted that at NCS “we ask many of these questions as we serve a multitude of clients across different sectors and industries”, and “this stems from our purpose to advance our communities by partnering with governments and enterprises to harness technology”.
The inaugural NCS Impact forum this year was created to provide a platform for governments and enterprises to have conversations and exchange ideas on navigating the current complexities as well as foster collaboration in using technology to create the future “we want for our community and our businesses”.
Asking the right questions at NCS Impact
The NCS Impact event brought together more than 1,000 tech and innovation practitioners and CXOs across the Asia Pacific, particularly from Singapore, Australia, China, and the region.
There were also close to 50 speakers from private and public organisations who shed light on the impact of the various socio-political, economic, and environmental turbulences, the pivotal role of technology in overcoming challenges, and how organisations can build resilience and trust while unleashing innovation.
Foo said that one of the right questions for enterprises, who have increasing cybersecurity needs, to ask is: “How can we work together to counter the increasing complexities of today’s cyberthreats and make tomorrow more secure?”.
Foo observed that the growth of the digital economy has brought about escalating digital threats. Giving an example, he noted that, after emerging from the Covid-19 pandemic, many employees in the Asia Pacific region are looking for flexible hybrid work arrangements.
“This necessitates a robust cybersecurity strategy and systems to protect hybrid work environments and sensitive data from cyber threats, as threats grow increasingly sophisticated and digital systems become extremely interconnected,” he said.
Foo added that the cyber landscape is too vast and complex for any single stakeholder to have complete visibility of all the potential threats.
“There are opportunities for us to build a robust information and intelligence ecosystem, which will enable us to support each other across multiple stakeholder networks. Furthermore, as the cybersecurity community faces a skill shortage, such collaborations are a win-win for all parties to work together to secure our organisations more efficiently,” Foo continued.
NCS collaborates with leading industry players to address cybersecurity concerns and create a secure digital landscape by offering end-to-end cyber capabilities to address different needs.
“Most recently, we announced two strategic partnerships with Mandiant and Assurity Trusted Solutions to provide global best-in-class cybersecurity products and services and improve trust in the digital realm. We continue to collaborate and co-create with like-minded innovators in the tech ecosystem to future-proof the digital landscape to build digital resilience,” he added.
“As a trusted partner with our clients, we use the best of technology and our global delivery network to create the optimal solutions that make tomorrow safer for their enterprises as well as for their customers.”
“Hence, we work with the right partners from our ecosystem to provide a complete suite of end-to-end applications and digital solutions for their different business needs, such as security testing, cloud and data security, and next-gen cyber technology,” he said.
The changing role of CISOs
Foo remarked that the role of the CISO has evolved and now “goes beyond being technical experts in cyber defence”.
“To effectively secure their organisations, CISOs and C-suites need to collaborate by integrating cybersecurity into broader business operations and acknowledging that cybersecurity is a shared responsibility among all stakeholders,” he noted.
Foo added that CISOs and C-suites should jointly assess and manage cybersecurity risks to ensure that security measures align with overall business objectives.
“They need to ask the right questions on what matters most from a business perspective. This can take the form of identifying critical assets, evaluating threats, and implementing appropriate risk mitigation strategies based on their potential impact on the business,” he added.
Organisations are only as secure as their weakest link, Foo noted (and) “there is a need for organisations to acknowledge that the responsibility for cybersecurity does not rest solely with the CISO”.
“Rather than confining cybersecurity responsibilities to the IT department or the CISO alone, it is imperative to engage the entire organisation and ensure employees and leadership are fully aware and know what they need to do to protect the organisation, for example, best practices, potential risks, and the importance of cybersecurity in daily operations,” Foo said.
Addressing the human factor in cybersecurity
The human factor has contributed to a significant amount of cybersecurity issues. Stanford University researchers and a top cybersecurity organisation found that around 88 percent of data breaches are caused by employees.
“By fostering a culture of curiosity and vigilance across organisations, employees at all levels will be encouraged to be proactive in securing their environments, reporting potential security concerns and protecting the organisations,” Foo said.
He noted that cybersecurity poses a complex challenge, often involving a trade-off between convenience, cost, and security coverage.
“To strike a balance, it is important to review the fundamentals and encourage internal and external stakeholders to ask the right questions.”
Foo added that at NCS, “we advise our clients to invest wisely, not extravagantly.”
He continued: “Cost-effective cybersecurity should be guided by a strategic approach driven by risk analysis and we recommend clients to gain a deep understanding of their primary risks and their potential impact.”
“By aligning cyber-risk management with business requirements, organisations can create a security framework that matches their defined risk tolerance and meets their budgets.”
The collaboration among the CISO, Chief Technology Officer, and Chief Information Officer functions is critical to align cybersecurity investments with the organisation’s financial health and strategic priorities.
Given the challenges of rising inflation and economic uncertainty, business leaders must address the question of how to maintain effective cybersecurity with limited resources.
“We recommend going back to basics by reviewing the organisation’s risk position, consolidating the security stack and educating stakeholders. This reduces complexity and sets the basis for an effective and scalable cybersecurity deployment that can adapt to your organisation’s growth,” Foo concluded.
