The modern digital landscape is fraught with danger. Organizations can become a vulnerable target, regardless of their size or scope, as they all have business operations and revenue streams that could be jeopardized by a security breach. According to Cybersecurity Ventures, the cost of cybercrime is predicted to hit $8 trillion by the end of 2023 and will grow to $10.5 trillion by 2025.
A Deloitte Center for Controllership poll found that 34.5% of executives who participated in the poll reported that their organization's financial and accounting data had been targeted by cyber attackers the previous year. Of those respondents, 22% had experienced at least one cyber incident, while 12.5% had experienced more than one.
This is why Information Security has become an integral part of business operations for organizations of various sizes and industries. Having a robust information security program will help protect your technology assets and physical space from malicious attacks both within and outside your organization.
When it comes to data protection and data security, the manufacturing industry is often the most vulnerable. This industry is prone to cyberattacks due to factors such as:
- Increasing Connectivity- The continuing evolution of Industry 4.0 and the Internet of Things (IoT) has led to highly interconnected manufacturing processes. This kind of connectivity brings forth several benefits including higher efficiency, real-time monitoring, and automation. However, it also leaves the attack surface wide open, giving cybercriminals more entry points for security breaches.
- Outdated Systems- A fair share of manufacturing facilities still run on outdated, legacy systems and equipment, not designed keeping cybersecurity in mind. This makes it a lot easier for attackers to exploit those vulnerabilities. Securing or upgrading these systems becomes a challenge due to costs, operational limitations and disruption to production.
- Risks to the Supply Chain- The complex nature of the manufacturing supply chain leads to certain vulnerabilities. Supply chain attacks can lead to a compromise in product quality, data breaches or lead to the disruption of manufacturing operations.
This blog will explore the concept of information security (InfoSec), its importance in the manufacturing industry, and touch upon how eProtect360 can help organizations enhance their InfoSec.
What is Information Security?
Information security, also known as InfoSec, is the process of safeguarding information and information systems from the unauthorized access, use, disclosure, modification, or destruction.
It is a broader practice consisting of the entire process of sharing and receiving information, that covers everything from data loss prevention and encryption to data security exchange practices.
InfoSec Principles
Why Does the Manufacturing Industry need Infosec?
Information Security is vital for the manufacturing industry due to several reasons. It can help:
- Protect Intellectual Property- The manufacturing industry relies a lot on intellectual property. This includes proprietary designs, manufacturing processes, trade secrets and research and development (R&D) data. InfoSec can protect this valuable information from data theft or unauthorized access, making sure to maintain a competitive advantage and preserve industry innovation.
- Safeguard the Supply Chain- Manufacturing companies collaborate with suppliers, vendors, and partners across the supply chain. Information security ensures that the exchange of data is secure, mitigates the risk of supply chain attacks and protects against malicious activities likely to compromise the integrity of the manufacturing process.
- Prevent Production Disruptions- Manufacturing processes tend to rely on computer-controlled systems and interconnected networks. Information security will help prevent unauthorized access, detect malware infections and cyberattacks that could potentially disrupt production lines, compromise the quality of the product, or increase downtime.
- Comply with Regulations- The manufacturing industry is subject to various regulations and standards, including the International Organization for Standardization (ISO) 27001 for information security management. Infosec helps manufacturers comply easily with these regulations. This helps them prevent any legal consequences, avoid fines and reputational damage.
- Mitigate Cyber Risks- Cybercriminals often target the manufacturing industry looking to exploit the vulnerabilities in IT systems, connected devices and software applications. Infosec identifies these vulnerabilities, implements intrusion detection systems and has incident response plans in place to minimize the impact of cyber threats.
- Protect Customer Trust- Information security helps establish customer trust by ensuring the confidentiality and security of data. Customers in the manufacturing industries have strict requirements for data security when it comes to selecting their manufacturing partners. Having a strong Infosec framework enhances the industry's reputation, helps foster long-term customer relationships and attracts new business opportunities as a result.
Ensure Secure Information Exchange with eProtect360
With the threat of cyberattacks constantly looming in the manufacturing industry, you need the best, safest Information Security solution to safeguard your organization. This is where eProtect360 comes in!
eProtect 360 is a comprehensive information security solution that helps organizations achieve this exact goal by offering a wide range of services for cyber security, including a Security Operations Center, VAPT, WAPT, Code Review, Red Team, Information Security, Brand Protection, Anti-phishing, Digital Forensics and more.
eProtect360 also offers comprehensive training and Advisory services to help organizations improve their information security (InfoSec) practices, train their employees, and ensure that their systems are properly configured and secured.
Whether you are looking to implement data loss prevention policies, encryption capabilities, or to improve your information security practices, eProtect360 has got you covered.
Get in touch with us today to learn more about our services and solutions.
