Whilst the COVID-19 pandemic brought new challenges for all organizations trying to deliver secure remote access to employees, there are still many infrastructural issues with regards to how IT security solutions have been deployed. These concerns need to be addressed if organizations are to realize the value of Trust Enabled Commerce.
In other words, the traditional way of securing digital transactions is no longer as effective as it was before. Organizations now need to manage their digital trust by not only looking at what they need to do but what they should do.
According to IDC’s latest document, which contextualizes Future of Trust predictions for 2021, new approaches in managing risks, securing the infrastructure, compliance, privacy, ethics and social responsibility to achieve trust outcomes, are essential.
“IDC's Future of Trust FutureScape highlights the fact that organizations still tend to invest in security solutions as a reaction to external perceived and real risk, and not so frequently in a strategic manner that meets the expectations of business leaders and the needs of the workforce,” says Simon Piff, Vice President for Trust, Security and Blockchain research at IDC Asia Pacific.
Leading organizations are beginning to understand the importance of the concepts of digital trust, anchored in strong risk management skills, strategically supported at the C-Suite level by ethics, social responsibility, and an adherence to privacy expected by customers and employees alike, but the confluence of compliance to legislation and the demand to address the day to day IT security concerns dominate the minds of many—leading to less than optimal choices when it comes to their respective IT security strategy.
Three of IDC’s key ‘Future of Trust’ predictions that will impact the IT industry and both technology buyers and suppliers in Asia Pacific are:
Prediction 1: By 2023, budgets for modern software-defined secure access solutions will quadruple as flaws in legacy VPN remote access solutions become illuminated by the massive work-from-home migration.
Prediction 2: By 2025, to reduce security complexity faced by limited staff, 55% of enterprise security investments will be on unified ecosystem and platform frameworks.
Prediction 3: By 2021, 25% of organizations will leverage employee productivity software to monitor and improve the digital workflows of their full-time, work-from-home employees.
Each year, IDC releases its top predictions through its IDC FutureScape reports to give a crystal ball view of what lies ahead for the rapidly changing ICT industry. These predictions are used to shape the strategies and business objectives of technology leaders and business executives in the next 1-5 years.