Hi everyone, Scott Munden here from Huntleigh Technology Group.
Welcome to our next segment in the Cyber Series. Today’s topic is supply chain vulnerability. And to illustrate the magnitude of the issue, I wanted to throw up a quick graphic, and then we’ll discuss in more detail on the back end.
According to Cybersecurity Magazine, they predict that 45% of organizations worldwide will experience an attack on their supply chain in the next few years. And they backed that up by noting that supply chain attacks are up by 633% over the past year.
Then they did it in their survey, and there’s a couple of data points that I’m going to pull out and discuss on the back end. But as you can see here, two of the keys are not knowing what checks to carry out and then lacking the skills to do so.
Those are some pretty startling results from their study. And I think that it’s clear the problem isn’t going away. In fact, as you can see, it’s actually getting larger. And it seems like we’re sometimes behind the curve against the bad actors.
I pulled out the two statistics, not that time and money or knowing what to assess and the other data points in there aren’t important. But I pulled out the two in terms of knowing what to assess and then also lacking the skills to do so as key factors, because we know worldwide that there is a shortage of this expertise. The good news is that there are a lot of providers and partners that can help you. I think the key takeaway there, because it does talk some about not being committed to the reviews, and I think that’s important. You have to take a holistic approach to the issue, and that’s both on the planning side. It has to be part of your overall cyber resiliency plan, which is part of your business continuity. And if you’re trying to get insurance or you’re trying to comply with the different regulations and you can’t check some of those boxes, you’re going to continue to struggle.
So we always urge you, reach out, get some help, get some advice, talk to people, see what’s really working and what’s not working. Because in the supply chain, it’s a complex ecosystem. It’s not just you. There are a lot of third parties out there how to get a collective approach to ensuring that your organization is as secure as you can be is the key to your success.
Go to our blog. You can see our information here on LinkedIn. I encourage you to reach out if you have questions or you just want some advice. We always encourage that and welcome that.
Thanks again for your time. See you soon.
