The post-pandemic world is going to feature digital infrastructure comprehensively. Every organization throughout the globe has started paying increased attention to technology, as being digital-first is the only way to be. Subsequently, there is an increased need to secure digital products from an increased number of threats. The pandemic saw a sharp increase in cyber-attacks and data breaches all across the globe. It is projected that in 2021, cybercrime will cost the world around USD 6 trillion in losses.
In a study conducted by Microsoft and Frost and Sullivan, it was stated that:
A large-sized organization in Asia Pacific can possibly incur an economic loss of US$30 million, more than 300 times higher than the average economic loss for a mid-sized organization (US$96,000) [in the case of a breach]; and cybersecurity attacks have resulted in job losses across different functions in almost seven in ten (67%) organizations that have experienced an incident over the last 12 months.
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As hackers are gaining more ground, it is crucial for digital products to be two steps ahead of them. There needs to be an increased focus on understanding the technology risks that any software can be exposed to. An established method of ensuring the safety and security of digital platforms is penetration testing.
Penetration testing, also referred to as ethical hacking and white hat attack is a process where an application’s security is evaluated by exploiting its vulnerabilities so that they can be fixed. It helps in realizing the impact of the system’s flaws, and as a result, corrective action can be taken in order to prevent any undesirable circumstances. Penetration testing is not the same as vulnerability scans. They give a background to these vulnerabilities, exposing exactly how they can be exploited. Here are four reasons why penetration testing is a must for digital vendors in order to ensure top-notch security for their clients:
For some businesses, their IT infrastructure is quite crucial to the overall functioning of their organization. Even it is interrupted for a day, the costs associated might be too high to deal with. Understanding this area falls under the gamut of risk assessment. The end goal is to uncover the various risks that any digital infrastructure is exposed to and understanding its potential impact.
Penetrating testing acts as a great tool for risk assessment as it provides organizations with a list of high-priority objectives and exercises they need to carry out in order to achieve maximum security. According to the probability and impact of the threats identified, informed decisions can be made by the management.
Certain compliances and regulations make it mandatory to undergo penetration testing, failing which hefty fines might be incurred. Worse even, it can even lead to the cancellation of licenses and legal proceedings. This a result of data security being a priority for more and more regulators throughout the world, as they want to ensure the privacy and safety of their citizens and organizations. Despite the fact that penetration testing cannot resolve the concern of data privacy directly, it sure eliminates the various threats that are brought up by software vulnerabilities.
Loss of confidential data would be disastrous for any organization, especially when the data might go into the wrong hands. Cybercriminals usually sell the data on the internet, where rival companies might get their hands on precious data. Needless to say, the losses so incurred will be monumental, to say the least. Therefore, penetration testing is very important in order to fend off such disastrous consequences and to ensure the continued success of organizations.
In tandem with the point discussed above, it is clear that data breaches lead to not only monetary losses but also lead to a loss of reputation. Failure to take adequate measures to ensure data security reflects poorly on the image of the organizations, rebuilding which would be a Herculean task. It makes much more sense to take measures like penetration testing in advance to prevent any such loss of goodwill that has been built over the years.
As a leading Business Process Management (BPM) and Application Platform-as-a-Service (aPaaS) provider, Quixy understands the importance of data security. Security is the highest priority with a strict no-compromise policy being adhered to at each and every step. Starting with the choice of cloud infrastructure that hosts the platform, the platform per se, and the ready-to-use applications designed on the platform – all of these three crucial aspects necessarily meet the highest security standards.
Quixy undergoes penetration testing constantly to ensure that no software vulnerabilities find a way into our platform. As we strive to be a trusted digital partner for our clients, we understand the importance of the confidence shown in our platform and we go out of our way to ensure that data security is never an issue. We deploy methods, penetration testing being one of them, in order to ensure that we have all our bases covered and we are two steps ahead of cybercriminals and hackers.
In order to achieve digital success, you need to choose digital platforms that are taking maximum effort to ensure the very best for your organization. Organizations across the world trust Quixy as their digital vendor and are bringing about digital transformation in a timely, safe and innovative manner.
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