Organizations may save up to 60% of vendor costs with Microsoft Security multi-cloud multi-platform solution under the uncertain economic backdrop
November 15, 2022, Hong Kong – While businesses are moving data and applications to the cloud, along with hybrid work is no turning back on this point, organizations are spending more on cybersecurity and in a more complex way. With the global economic backdrop remains uncertain, although cyberattack is on the rise with 1,955 DDoS attacks per day mitigated by Microsoft, a 40% increase from last year, Chief Information Security Officers (CISOs) have put cost reduction with improved threat protection as their top priority. At today’s Microsoft Hong Kong Cybersecurity Summit 2022 (“the Summit”), Microsoft reveals the latest cybersecurity insight to help businesses protect more with less.
Cyberattacks on the rise
The global rise of cyberattacks and the advent of hybrid work are creating a new world of security risks affecting all organizations. Meantime, protecting people and devices is not just coming from the outside, organizations also need inside-out protection. According to the latest Microsoft reports, DDoS attacks per day mitigated by Microsoft increased by 40% compared to last year. Other key findings include the following:
- 1,955 DDoS attacks per day mitigated by Microsoft, a 40% increase from last year. Most attacks were short-lived, approximately 28% lasted less than 10 minutes.
- Average921 password attacks per second, a 74% increase YoY.
- 50% of Microsoft cybersecurity recovery engagements related to ransomware
- 710 million phishing emails blocked per week.
- 531,000 unique phishing URLs and 5,400 phishing kits were taken down at the direction of our Digital Crimes Unit (DCU).
- For insider risks, 40% of respondents said the average cost was more than USD 500,000 or more per incident, with an average of 20 data security incidents per year – sensitive data is NOT appropriately shared or removed by employees, unintentionally or not.
- Loss of customer data and damage to brand topped
Protect more with less using Microsoft Security solutions
A Microsoft survey indicated that 82% of CISOs were pressured to lower costs and threat protection cost cutting is their priority. “Considering today’s economic uncertainty and ongoing cybersecurity talent shortage, by adopting Microsoft Security multi-cloud and multi-platform solution, organizations can protect more with less time, cost and complexity with one comprehensive security vendor” said, Henry Li, Director, Specialist Sales, Microsoft Hong Kong.
- Less Time – Using AI and automation helps to cut through false alarms, quickly identify threats, streamline threat investigation, and help automate remediation. Deploying AI and security automation enable organizations to reduce 65% time to investigate threats with Microsoft Sentinel, Microsoft 365 Defender, and Microsoft Defender for Cloud; spend 96% less time spent monitoring potential suspicious activity with Microsoft Purview; and reducing 90% noise to elevate the most critical issues with Microsoft Sentinel.
- Less money and human cost – With comprehensive security solutions provided by technology enablers like Microsoft, customers can integrate up to 50 product categories and realize up to 60% cost savings through vendor consolidation. Knowledge of security experts from a single comprehensive vendor can be virtual extensions for organizations’ in-house security teams. For example, deploying Microsoft’s cybersecurity solutions enable businesses to get 24/7 support from 8,500 Microsoft security experts across markets. With Microsoft’s AI-powered capabilities, the in-house security team only needs to handle the top 10% of most critical threats as 90% of noise will be migrated by Microsoft.
- Less complexity – Cybersecurity protection becomes complicated as businesses operate their systems across multiple devices, applications and cloud platforms. 60% of enterprises are using two or more cloud platforms. Deploying security solutions from one single vendor helps to improve efficiency of network-related IT work with Azure Network Security and reduces 75% password requests after introducing Single-Sign-On with Azure Active Directory; eliminating gaps and get simplified, comprehensive protection and expertise to innovate and grow in a changing world.
80% of organizations plan to consolidate vendors over the next three years while 88% of organizations that consolidated their security portfolio report that they diminished their breach risk.
“Given the breadth of challenges our customers are facing, and recent economic headwinds, many organizations are looking to consolidate their security portfolios to optimize costs and reduce complexity,” said Fred Sheu, National Technology Officer, Microsoft Hong Kong. “We believe that organizations need a single pane of glass to locate and know their data, protect their data and prevent data loss across the data estate. With Microsoft multi-cloud and multi-platform security solutions to manage enterprise protection, CISO, security practitioners and end-users can protect more with less time, cost and complexity.”
Advanced end-to-end multi-cloud, multi-platform security solutions
Microsoft Security Portfolio provides comprehensive security protection with six interconnected product families, ranging from (1) Security, (2) Identity & Management and (3) Compliance & Privacy, that protect organizations’ entire digital estate, multi-cloud, multi-platform.
Over 200 participants joined the Summit this year
At the Microsoft Hong Kong Cybersecurity Summit 2022 today, over 200 business leaders, security experts, data and compliance professionals across different industries have joined the event to learn about the latest cybersecurity landscape and challenges that we all are facing and how to take a comprehensive approach to security, combining technologies, threat intelligence and expertise, so that they can transcend security and focus on achieving their business goals. Speakers include:
- Raju Daryanani, Head of Group Cybersecurity, Jardine Matheson Limited
- Dirk Engeler, Chief Information Officer, The Hong Kong Jockey Club
- Kok Tin Gan, Partner – Cybersecurity & Privacy, Founder of Darklab, PwC Hong Kong
- Frank Chow, Head of Cyber Security and HKCERT, Hong Kong Productivity Council
Vasu Jakkal, Corporate Vice President, Security, Compliance, Identity, and Management at Microsoft, joined the Summit today virtually, to speak on the current cyberthreat trends and challenges, and how an organization responds to and recovers from the attacks is critical to the business’ success.
[Photo 2] Henry Li, Director, Specialist Sales, Microsoft Hong Kong (left) and Fred Sheu, National Technology Officer, Microsoft Hong Kong (right) revealed that how organizations can adopt Microsoft Security multi-cloud and multi-platform solution to protect more with less time, cost and complexity.
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.