Achieving Cyber Resilience Has Never Been More Important - Here’s Why

Building a SecOps strategy to improve cyber resilience is not just a security framework for organizations. Security leaders have now found it essential to get ahead of issues and prevent downtime from causing chaos within their organizations. 

The Real Costs of Downtime: Tackling the Aftermaths of Security Events

Downtime is inevitable. According to Splunk’s Hidden Cost of Downtime Report, Splunk quantified the total cost of downtime for the Global 2000 to be US $400 billion annually. These companies lose US $200 million on average each year because their digital environments fail unexpectedly. Geographically, organizations in Asia Pacific (APAC), along with Europe, experience the longest recovery times from brand health, revenue and stock price

“Downtime, however, is not an all-or-nothing situation. Its inevitability does not mean leaders should see it as a lost cause. On the contrary, it is all the more crucial for organizational mentality in APAC to shift from reaction to prevention, and to strategically invest in talent as well as robust systems to minimize its impact. The difference between downtime of a few seconds and that of a few days therein lies in the systems an organization invests in. 

Timely audits to stress test system reliability and identify vulnerabilities and smart investments that allow end-to-end visibility across an organization’s environment and networks are just some of the steps that organizations can take to strengthen their digital resilience. Leaders should also prioritize strategic avenues such as AI-enabled tools and automation, which can help break down silos through increased operational visibility and position teams to better recognize and respond to rapidly evolving threats.” - Robert Pizzari, Vice President, Strategic Advisory APAC, Splunk

According to EY 2023 Global Cybersecurity Leadership Insights Study, despite the increasing threat of cyber-attacks and ever-rising investments in cybersecurity, just one in five Chief Information Security Officers (CISOs) and C-suite leaders consider their approach effective for the challenges of today and tomorrow.

“In an era where cyber threats are becoming more complex and targeted, it is crucial for businesses to prioritize and bolster their cybersecurity measures while reducing digital risks. As we navigate this challenging landscape, organizations need to adopt a comprehensive approach to cybersecurity proactively, ensuring complete visibility of the attack surface and protecting them while maintaining customer trust.” - Krishna Balakrishnan, Global & APAC Cybersecurity Managed Services Leader, EY

Splunk and EY Collaborate To Help Organizations Unlock Routes to Cyber Resilience

EY won Splunk’s APAC Emerging Partner accolade as part of the Splunk Global Partner Summit for 2024 as a testament to significant strides in creating positive social impact, delivering breakthrough solutions, and showcasing customer success. 

“In the realm of digital resilience, the partnership between Splunk and EY becomes a beacon of trust and innovation. Our shared vision is to forge a future where cybersecurity is not just reactive, but predictive, proactive, and empowered by the synergy of our combined expertise. Together, we craft a secure landscape where businesses thrive on trust and resilience” - Chang Boon Tee, Associate Partner, Cybersecurity Managed Services, EY

SOC of the Future: Join Us at the Singapore Cyber Roundtable

The combined capabilities of Splunk and EY turned a cornerstone in the future of Security Operations Centers (SOC). At its core, we are able to deliver a comprehensive solution for threat detection, investigation and response to meet the evolving needs of the SOC of the future. 

With a deep portfolio of consulting, recommendations and consulting services, EY leads the way in helping organizations build their transformation strategies and roadmaps to help them manage leading-class security operations. 

Join us at the Singapore Cyber Roundtable with Splunk and EY on 30 October and examine the key solution capabilities with us that are critical to a successful platform helping organizations build their cyber resilience. Some of the highlights include:

• Share key findings from EY 2024 Global Cybersecurity Leadership Insights Study and explore the biggest challenges that may lie ahead for organizations
• Exploring the benefits of trusted-AI to improve efficiency and decision-making for SecOps
• Mobilizing an effective Security Operations Center (SOC) that breaks down silos across threat detection, investigation and response (TDIR) to safeguard your organization’s data and critical assets
• Adopting a federated approach to data from decentralized and diverse data sources for improving cost-effectiveness and combat cyber risk