SUBSCRIBE NOW

Subscribe to Get the
Latest News And Updates. No Spam. We Promise.

DEMYSTIFY TECHNOLOGY : Securing Your Business in the Digital Era

March 25, 2021
203

Of your peers have already read this article.

6:49

Minutes you'll spend on this story!

Basic reactive measures are no longer adequate to manage the complexity of cyber threats today. It is time to adopt a more adaptive approach to cybersecurity that would enable Active Cyber Defence (ACD) and cyber resiliency. This means having real-time cyber defence services implemented to drive business growth securely.

Cybersecurity Quote-by Prime Minister

The COVID-19 crisis and the unprecedented acceleration towards digitalisation have caused companies worldwide to race onto digital platforms. As companies stepped onto digital means, they found loopholes and vulnerabilities in their digital systems. These issues are evident with the high number of cyber incidents reported, with more than 7,000 cases in Malaysia as of September 20201. Cyber fraud topped the list in Malaysia as the most common type of cyber-attack.

Figure 1: Average total cost of data breach by country or region (IBM Data Breach Report, 2020)
Figure 2: Reported Incidents in Malaysia, 2020 (Malaysia Computer Emergency Response Team, MyCERT Statistics)

Current challenges on cybersecurity in Asia Pacific

In its latest 2020 report, INTERPOL provided a sobering reality on the cyberthreat landscape confronting the Association of Southeast Asian Nations (ASEAN) countries. The first half of 2019 saw a rise in botnet infections, phishing scams, and ransomware, among others. Malaysia ranked among the top 3 countries in terms of mobile banking malware detections.

Alarmingly, it was revealed that Malaysian organisations cannot cope on their own to address the myriad cybersecurity threats. More than 70% of Malaysian organisations surveyed agreed that security is not their core expertise. Companies would rather engage a trusted partner for their security needs, according to IDC’s 2020 Asia/Pacific (excluding Japan) Enterprise Services Sourcing Survey

Current overview of Cybersecurity in Malaysia

Against this backdrop, Malaysian enterprises that may not have the critical cybersecurity skills, technologies and cyber defence need to make urgent strategic choices. Hence, cybersecurity must be placed at the forefront of digital business initiatives and not as an afterthought. Cyber-attacks show a yearly upward trajectory. Leaders, however, tend to deny the possibility as it can affect their firm’s stature. This denial results in a spiral of incidents where businesses fail to defend themselves from cybersecurity strikes. As such, companies end up paying hefty fees to recover from the damages done. What firms could have protected earlier at a fraction of a cyber incident cost, now serves as a strong reminder of the importance of cybersecurity.

The detachment of cybersecurity from the business functions leads to a weak understanding of cyberattacks’ imminent threats on their business decisions. Organisations that do not comprehend cyber threats and their disastrous outcomes fail to quantify the risks across business decisions. Cyber strategies are often underfunded and low in resources as there is no intent to measure cyber threats and their influence. To counter this, leaders need to understand the key cybersecurity trends and align their priorities to strengthen their cybersecurity strategies.

Few considerations for the business leaders today:

  1. Do we have visibility on any potential threats to the organisation’s technology, process and people?
  2. Are the organisations adopting adaptive threat and access protections?
  3. How do we build a secure agile development of security by design, work with security services partners and create a digital ecosystem with cyber resiliency?
  4. Do we have a business-driven adaptive security governance and risk management to grow and protect the business?

Key-cybersecurity-trends for 2021

  1. Cloud adoption – ensuring security at scale
    1. The migration towards cloud platforms outpaced the capacity for security teams to manage the threats posed by cybercriminals.2
    2. Almost three-quarters of organisations hosting data or workloads in the public cloud experienced a security incident in the last year.3
    3. The Asia-Pacific (APAC) region accounted for the highest regional rates of exposed data (35%), ransomware attacks (37%), and account compromise (33%).
  1. Securing the remote workforce – building on the lessons in the new normal
    1. Organisations are battling one another in digital adoption to ensure business resiliency, with a focus on learning from the cyber events that took place in 2020.
    2. During the Movement Control Order (MCO), Cyber999 Help Centre, the cybersecurity incident response centre operated by MyCERT received a total of 3,906 complaints between March 18th and June 30th 2020, an increase of over 90 per cent in comparison to 2019.
    3. This increased case count indicates that digital adoption strategies did not balance with equally important cybersecurity measures. Weighing the options of choosing in-house services or outsourced services can be a game-changer for those seeking to turn the ‘new normal’ into an opportunity.
  1. Internet of Things (IoT) Devices and 5G Network Deployment – borderless security protocols
    1. IDC forecasts that there will be 55.7 billion connected IoT devices by 2025.4
    2. In 2020, 57% of IoT devices were vulnerable to medium or high severity attacks.5
    3. The deployment of the 5G network would give continuity to this trend. Whilst it does provide significant value, it brings along cybersecurity concerns with it.
    4. The critical challenge facing cybersecurity teams is that traditional methods would not be sufficient to tackle IoT threats. This issue is not concerning devices but instead networks that require a whole new approach.

3-point cybersecurity checklist for business leaders

1. Realigning cybersecurity measures towards proactivity

Busines leaders needs to be more proactive in fighting cyber threats. The evidence regarding the commonplace of cyber-attacks on even large institutions suggests that big companies are not spared from such attacks. Cybersecurity incidents are traditionally dealt with in a reactive state of mind, leaving the organisation a step behind the attackers. A proactive stance allows the business leaders to securely guard their highly valued assets and build a robust digital infrastructure on all fronts.

2. Shifting the view on cybersecurity from a cost-based to ROI- and risk-based

Cybersecurity is often regarded as a compliance-driven, cost-based investment and a crisis manager – limiting its vast potential and value. These misconceptions can lead to a costly outcome. Having that traditional mindset ultimately disables important cross-functional insights from cybersecurity players, leaving the company vulnerable. Leaders need to view cybersecurity in terms of Return on Investment (ROI) and innovation-drivers. These drivers, in turn, enable the inclusivity of cyber insights into various functions of the business and tackles the problem of cybersecurity operating as a silo.  

3. Integration and collaboration on cybersecurity  

Business leaders require a ground-up rethinking of the culture surrounding IT and Security by encouraging integration and cooperation across functions and external experts. This move ensures a continuous knowledge transfer on cybersecurity, building high-skilled talents. Creating a culture that prioritises collaboration would allow cybersecurity functions to be innovation enablers and fully grasp the vital role cybersecurity plays in the organisation.

Key takeaways

Traditionally, cyber strategies are mostly cost-based and referred to as an operational element of the business. By improving the integration and collaboration in the decision-making process, cyber budgets can be perceived as risk-measured and more strategically aligned with business targets. This process translates into a better understanding of the cyber threats that each business decision holds. As a result, business leaders can drastically improve their knowledge of the elements behind cyber strategies’ ROI. In the end, there is an allowance for better prioritisation and utilisation of the cybersecurity investment.

In Malaysia, generally we are still investing in conventional security technology, which is very much basic security, more reactive and only effective for damage control measures. It is time for us to seek a new proactive and more adaptive strategic approach to cybersecurity risk management that enables Active Cyber Defense (ACD) and cyber resiliency.

For businesses, this means real-time cyber defence services, resulting in valuable time and cost savings, avoid business disruption, providing peace of mind and regulatory compliance by preventing, mitigating or eliminating cybersecurity threats.

The Managed Security Services Provider or MSSP provide the bridge to balance the needs of cybersecurity to realise the value and benefits of cloud and digital services; to grow and protect the business and in return enable organisations to focus on their transformation journey, securely and comfortably.

TM ONE, the business solutions arm of Telekom Malaysia Berhad (TM) is ever ready to deliver digital security solution to businesses and organisations to safeguard their operations. TM ONE’s Cyber Defence Centre (CYDEC) is a fully managed security services that bring multiple benefits including global cyber threat intelligence services to protect brand and reputation, online fraud and business disruptions. CYDEC also offers real-time visibility with the Global Cybersecurity Operations Centre (G-CSOC) or a 24/7 monitoring of global Cyber Threat Intelligence (CTI) services with Active Cyber Defence (ACD) capabilities.

CYDEC also delivers numerous benefit to Malaysian enterprises and public sector institutions in building digital trust and cybersecurity resilience. This is done by managing the key five (5) key areas of risk – cybersecurity, compliance, privacy, ethics and social responsibility. These managed security services provide access to real-time, continuous, predictive cybersecurity, quickly and without complexity. With CYDEC, organisations can effortlessly ensure that in-house IT resources can remain focused on their business core matters. 

Cyber threat is a huge risk to today’s world. In today’s digital era and ever-evolving technology standards, cybersecurity has quickly become a top concern and priority for individuals and companies worldwide. With this in mind, organisations are required to equip themselves to prepare for tight security measures and the best cybersecurity solutions to protect their vulnerability. It’s time to update your cybersecurity measures and get the security your business deserves. It is better to take preventive measures now than later recovering the after damages of cyberattacks. Always remember that an ounce of prevention is worth a pound of cure! 

1 Reported based on General Incident Classifications, 2020, Malaysia Computer Emergency Response Team
2 Checkpoint Cybersecurity Report 2021, Checkpoint, 2021
3 Sophos The State of Cloud Security, Sophos, 2021
4 IoT Growth Demands Rethink of Long-Term Storage Strategies, IDC, 2020
5 2020 Unit 42 IoT Threat Report, Palo Alto Networks, 2020

Key Elements for Better Data Insights

September 28, 2021
152

Of your peers have already read this article.

0:00

Minutes time you’ll spend for this story!

Designing future citizen services – Inspirations from our youth

September 16, 2021
169

Of your peers have already read this article.

2:32

Minutes time you’ll spend for this story!

On the eve of Malaysia’s 64th National Day, I had the opportunity to engage with a few of our youth on their expectations for future citizen services. It was inspiring to see the passion, energy, and ideas flowing as they aspire to build a better tomorrow. The conversation helped me gain useful perspectives on what is important and possible next steps for us to build the next generation of citizen services. Here are my five (5) key takeaways from the session:

  1. A high benchmark in term of expectations – This generation has grown in a digital-first world and are the recipients of great customer experience (CX) from some of the world’s best brands. In the case of these six youngsters, it is best exemplified by Grab, Revolut, Etiqa, BigPay, AirAsia and Foxtons. Each of these companies has established incredible benchmarks in delivering intuitive, frictionless, personalised, efficient, and completely digital services. This is now the minimum benchmark for the delivery of next-generation citizen experience. Anything lower will only result in an unhappy citizen.
  2. A customer-centric view – The service delivery must be designed from the lens of the citizen and his or her life journey – from womb to tomb – all integrated into one place. The user or a citizen should be the centre and focus of service delivery. As the citizen traverses through the various stages of life, he or she should be able to access the services through a unified channel. This is in stark contrast to the way citizen services are delivered by individual agencies, requiring us to engage with each of them separately.
  3. Build the foundational layer – The first step would be to build and integrate some very essential components that are fundamental to digital experiences as we know them. Some of these include:
    1. Mobile-first and digital-first approach
    2. Single Sign-On for all services
    3. Consistent user interface/user experience (UI/UX) across all federal, state and municipal agency services
    4. Data-once – citizens need to enter data only once; it is shared subsequently by the various agencies
    5. Predictive – anticipate and pre-empt citizen needs
    6. Omni-channel and One-stop customer service
  4. Develop a digital coalition – Further sustained innovation in citizen services can be achieved only through open innovation and co-creation among government agencies, technology partners, citizens and the start-up ecosystem. Human needs and behaviour are extremely complex and unpredictable. Co-creation enables the delivery of better services in a dynamic manner by leveraging the capacity to use resources of a wider ecosystem. It should be treated as a fundamental requirement for the delivery of next-generation citizen services.
  5. Driving industry transformation – It was interesting to hear the youth pointed out that the biggest impact of digital on the country will reside in our ability to transform some of the essential citizen services, such as education and healthcare services. This proves that digital can help improve access to every section of the society. They also discussed about the urgent need to modernise our core infrastructure (such as ports) so that we can be competitive in the region.
Imri Mokhtar, Group Chief Executive Officer, Telekom Malaysia Berhad

I was immensely inspired – every youth on the panel was part of a social initiative. Beyond just sharing ideas, they involved themselves actively and contributed to help build a better Malaysia. The onus is now on us in the government and institutions to channel that same energy into driving collaborative projects and creating world-class citizen services.

Looking forward to this exciting future. Selamat Hari Malaysia!!

Rehabilitation of Nation’s Healthcare – Transforming Healthcare through the Post Pandemic Era

September 13, 2021
186

Of your peers have already read this article.

3:15

Minutes time you’ll spend for this story!

The COVID-19 outbreak has placed a massive strain on the global healthcare sector’s workforce, infrastructure, and supply chain. Medical practitioners are exhausted, and healthcare systems are forced beyond limits to the brink of breaking down. Despite the many challenges, a decrease in revenues and rising operational costs, healthcare players continue to push forward, committed in providing high quality healthcare services to patients. Nonetheless, the pandemic has exposed the shortcomings of healthcare systems worldwide. Striking at the nation-building heart of many countries, the pandemic has significantly disrupted social, political, economic and healthcare systems around the world.

However, we have also seen the emergence of foundational shifts arising from COVID-19. Needle mover initiatives are being made globally by both public and private sectors, recognising the need to relook healthcare ecosystem modernisation towards a comprehensive, integrated digitisation and digitalisation. New coping strategies, involving the accelerated adoption of telemedicine, smart health and other technologies, are considered as imperatives. Amid these dynamics, public sectors, healthcare providers, players, and other stakeholders around the globe are being challenged to pivot, adapt, and innovate at speed to amplify the reach and effectiveness of healthcare.

The Digital Front Door 

A smart health approach typically makes use of interconnected technologies to embrace the entire spectrum of healthcare providers, consumers and researchers to ensure the delivery of cutting-edge care that is comprehensive, collaborative, efficient – recognising the needs of patients and their families as well as healthcare practitioners and administrators. The use of telemedicine, complemented by analytics, artificial intelligence (AI), data protection and scalable cloud ecosystem is gaining traction. The pandemic has opened doors for AI and other digital technologies to solve complex clinical and non-clinical problems.

A recent report published by McKinsey & Company highlights that telehealth utilisation has stabilised at levels 38X higher than before the pandemic. Similarly, consumer and provider attitudes toward telehealth have also improved. Investment in virtual care and digital health have broadly skyrocketed. Additionally, virtual healthcare models and business models are continuing to evolve.

However, some hurdles, such as concerns around technology security, need to be addressed. TM ONE has innovated a complete ecosystem of healthcare solutions, which is modular and interoperable with external systems connected via TM ONE Cloud α (pronounced as Cloud Alpha) and TM ONE Cybersecurity (CYDEC) to ensure world class security. McKinsey points out that, the ‘digital front door’ will not be closing as patients and providers have appreciated and embraced the convenience and flexibility of this type of care especially during the healthcare crisis. As we gradually move through and onwards into recovery, a key concern for any health system will be scaling and sustaining these digital interactions.

Driven by Human Experience

Consumers expect industry leaders to leverage on the momentum created in the pandemic to continue to propel healthcare forward, especially as good healthcare services is a key hallmark of sustainable future ready nation building. According to Deloitte, collaborations and the human experience are two (2) of six (6) pressing sector issues that are expected to shape and navigate the healthcare industry into and through the evolving ‘next normal’.

Healthcare technologies, which especially appeal to the digital first generation, has inspired deeper levels of activity, engagement and enhanced patient experience. A visit to the doctor is already a worrying experience for some without having to deal with the paperwork, hours of waiting time and patient care. On a wider front, consumers are using technology to monitor their health, measure fitness, order prescriptions and schedule doctor’s appointments. Eighty percent (80%) of consumers report that they are most likely to have another virtual visit even post pandemic. Pandemic experience has shown that the best path to effectively enabling digital solutions requires various levels of smart collaboration moving away from siloed record systems. Providing a comprehensive end-to-end integrated patients experience management platform with insights, one which is truly beneficial for consumers and patients — calls for collaborative arrangements, which embrace data platforms, disruptive entrants, public/private partnerships, and health system platforms integration.

TM ONE Healthcare understands the complexities of the healthcare industry. It will simplify the electronic medical records platform, and channel patients, healthcare providers and funders into a single, secured, standardised and cost-effective solution. With extensive experience in rolling out clinic management systems and electronic medical records, together with a dedicated team to maintain and provide adequate support to end users and partners, TM ONE Healthcare will ensure the best experience for all stakeholders.

Smart Services Key Towards IR4.0 For Your Business

August 24, 2021
211

Of your peers have already read this article.

2:47

Minutes time you’ll spend for this story!

Maznan Bin Deraman

Maznan is the Head of Innovative Solutions at TM ONE and is an experienced digital transformation practitioner with 26 years of demonstrated knowledge in Telco and ICT business which include research and development, network operation, Go-to-Market strategy, sales planning, product and partnership development. Now embarking to propel the innovation of state-of-the-art IoT, AI-driven smart services, 5G commercial use cases and cybersecurity services.

Q Many Malaysian enterprises are predicted to adopt Industry Revolution 4.0 (IR4.0) in the next few years, and smart services can have massive implications to the core elements of a company’s business model. How can smart services integration propel enterprises to the next frontier of the IR4.0 ecosystem?

For enterprises, incorporating IR4.0 means expanding their value-creation capabilities and business models by implementing smart services technologies such as advanced sensors, big data analytics, intelligent robotics, machine learning and Cloud computing, not forgetting cybersecurity and Internet of Things (IoT). With connected and intelligent ecosystems, transmitting data in near real-time, smart services transform the experience for enterprises and the lifestyle of consumers with smarter living, smarter workplace, smarter business operation and smarter community, by embedding intelligence into critical infrastructure and everyday objects.

At the end of the day, organisations can unleash greater innovation, enhance customer experience, and improve visibility, profitability, and resilience. This in turn enables them to unlock a new generation of revenue streams, efficiency measures, and people-empowering strategies.

Q Some organisations may view smart services as something that is ‘good to have’, especially in this challenging pandemic-laden business environment. Is there a real return to investing in smart services?

Since the pandemic, enterprises must find ways to become more efficient and transform if not all, most of their business operations to digital. Smart services convert manual processes to digitalised and automated processes powered by analytics, artificial intelligence and machine learning. This helps to optimise performance, minimise disruptions, and reduce downtime; in real-time and accurately.

There are countless use cases for smart services across all verticals, and have proven that the investments brought positive returns. A critical success factor lies in a good execution plan. Unfortunately, many organisations failed to extract value from smart services due to lack of expertise and haphazard implementation. When the solutions involve different types of technologies, implementation complexity and operational expertise, you need to have well experienced strategic digital solutions partner(s) with the know-how and proven track record to guide you through the journey, especially during the early stage of adoption.

Q Why TM ONE is the right partner in supporting your digital transformation journey?

As an enabler for the smart service ecosystem, TM ONE focuses on the platform strategy that has been designed to be technology-agnostic. This essentially enables multiple service providers to come on board our smart services ecosystem. Regardless of your vertical – manufacturing, retail, services, healthcare, education, government, or agriculture – TM ONE’s team of experts, ecosystem of service providers and end-to-end digital infrastructure make up comprehensive offerings to facilitate your journey towards IR4.0 more efficiently and easily.

In addition, TM ONE’s Integrated Operations Centre (IOC), part of our smart services offerings, continuously monitors and manages connected solutions to ensure adherence to service level agreements (SLAs), ease management, and lower cost of maintaining a smart services deployment. This is also supported by TM ONE Cloud α and Cyber Defence Centre (CYDEC) as its digital foundation, providing it with infrastructure, software platforms, industry solutions and ecosystems, and services to create and manage connected implementations securely and effectively. As the sole Malaysian Cloud Service Provider (CSP) for the Government, TM ONE through its Smart Services is the most visible ambassador of digital transformation, taking Malaysia a step closer to Digital Malaysia and taking transformation forward for Malaysian organisations.

This article was written in collaboration with The Edge.

Together, Let’s Create Success Stories

Help us know you better.

Which industry are you from?

One more quick question.

What solution are you looking for?

Our Experts Will Connect With You Soon.

Don't worry, we hate spam too.

If you agree to continue browsing, you accept the use of cookies on this site and have the option to disable them if you wish.

Accept & Continue