Virtually all organisations today possess data of some kind, such as information about their clients, and are possible targets of cyber criminality. They are therefore faced with the challenge of handing cybersecurity issues correctly, which is far from easy. “Cybersecurity is becoming increasingly complex, and probably too complex for most small and medium-sized companies,” confirms Paul Such, CEO of Hacknowledge and one of the speakers at the event “Meet the Cyber Future” organised in October 2018 by Luxinnovation during Luxembourg’s Cybersecurity Week. “There are more and more solutions available, but it is very difficult for companies to select the right ones and implement them correctly.”
Cyber Hedge founder and CEO Ryan Dodd agrees, adding that the extensive outsourcing of IT-related services contributes to the complexity. “Outsourcing, often to a large number of providers, means that companies are now responsible not just for themselves, but also for the security of their third-party providers,” he says.
A market ready to invest
To alleviate these difficulties, Hacknowledge has developed a security operations centre (SOC) that constantly monitors clients’ networks. Immediate alerts are issued when threats are detected and confirmed, together with expert advice on how to remediate the attack. “Our strength is to be vendor independent, which makes our SOC affordable to companies of any size and sector,” says Mr Such.