Importance of asset management and cybersecurity asset management startups continues to rise
The importance of cybersecurity comes down to the desire to keep information, data, and devices private and safe. In today’s world, people store large amounts of data on computers and other internet-connected devices. But in the world of cybersecurity, it’s impossible to secure something if you don’t know it’s there. Cybersecurity asset management is an industry for which investors have shown an ever-increasing appetite over the past 18 months. The cybersecurity industry had what some are calling a “golden year”: funding for cybersecurity asset management startups increased 138% to US$29.5 billion in 2021 and mergers and acquisitions soared more than 294% to US$77.5 billion.
Last year, Sternum, a Tel Aviv-based startup that provides real-time asset management for internet-connected devices, raised $27 million; Censys, a search engine for networked devices, got US$35 million; JupiterOne, a platform that helps organizations see all of their digital and cloud assets, raised $19m; and Axonius, which helps organizations manage and track IT assets, pocketed $100 million. Does this article explain why cybersecurity asset management startups are in demand?
What is the difference between IT Asset Management and Cyber Security Asset Management?
Before we dive deeper into cybersecurity asset management, let’s take a quick look at what IT asset management (ITAM) entails. IT asset management refers to a set of processes surrounding the financial, inventory, contractual and life cycle management of an IT asset. This helps to maximize the business value obtained from these assets. In this case, an IT asset is really any device or cloud instance used for business purposes.
Key aspects of ITAM programs include:
Asset Inventory – Obtain a complete inventory of all hardware, software and network assets
License Management – Ensure all assets are running appropriately licensed software
Lifecycle Management – Decide which assets should be retired, manage software licenses on those assets, and update inventory
By this traditional definition, IT asset management would then be the sole responsibility of IT support and desktop teams.
However, the process of collecting data about each asset and understanding what software is running is also critical and fundamental to cybersecurity.
What is Cybersecurity Asset Management?
Cybersecurity asset management is the method used to identify, on an ongoing, real-time basis, the IT assets claimed by your organization and the potential security hazards or gaps affecting each. In this particular circumstance, resources take on many structures. These can be traditional devices, such as PCs and servers. Or, it can be particular IoT, IoMT, IIoT, or OT gadgets or assets characterized by programming, similar to a cloud-based dataset or domain owned by an organization. Any gadget, asset, or service that exists in your IT estate could be susceptible to hazards or weaknesses that would disrupt the singular asset and your organization as a whole if attackers use a compromised asset as a starting point for send a larger assault.
So what makes cybersecurity asset management startups hot and does it matter?
Cybersecurity asset management startups give your security team and the entire business the visibility it needs to build a comprehensive security strategy that mitigates threats quickly and proactively. Here are several reasons that make cybersecurity asset management startups:
Cybersecurity is not a distraction
With a robust cybersecurity asset management process in place, organizations can hand over new IT administrations or assets without security becoming an outage or blockage. They can make choices based on business needs, confident that whatever transformations they make, their cybersecurity asset management process will detect potential vulnerabilities.
Cybersecurity asset management ensures that security teams recognize dangers before they escalate into significant issues. By constantly checking the IT domain for new organizations and new dangers, groups need not delay until they recognize a functional assault to react.
If an attack does occur, cybersecurity asset management provides the security team with an inventory of assets and risks that they can use to gain context on what went wrong and when. Rather than re-state organizations and asset configurations to investigate the beginnings of a breakdown or weakness, groups have a cutting-edge record they can allude to immediately.
In all of these ways, cybersecurity asset management puts organizations in a stronger position to recognize and respond to security risks. While cybersecurity asset management is only one component of an effective cybersecurity strategy, it is impossible in most cases to maintain proactive security operations without cybersecurity asset management in place.
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