In the digital era, where information is one of the most valuable assets, cybersecurity has become a priority for companies of all sizes and sectors. In this context, Latin America is not exempt from the challenges posed by cyber-attacks. In this article, we will explore recent cyber threats, highlighting alarming data in this regional context. More importantly, we will highlight the urgent need to protect corporate data and comply with cybersecurity regulations.

A worrisome outlook

Given the most recent episodes in Colombia, Costa Rica and Mexico, among others, the region has witnessed an increase in the frequency and sophistication of cyber-attacks in recent years. Companies from all sectors have become targets for cybercriminals. Statistics reveal that, on average, Latin America has seen an increase of more than 140% in reported incidents in the last three years. This is a wake-up call for companies operating in the region, as it shows that cyber threats do not recognize borders.

The importance of protecting data and complying with regulations

Cyber security is no longer just a technical concern, but a business and legal imperative. Companies are legally obliged to protect the sensitive data of their customers and employees, and this applies throughout the region. Failure to comply with these regulations can result in severe penalties and damage your company's reputation.

In addition, cyber-attacks can have a significant financial cost. According to studies, the average cost of a data breach in Latin America exceeds $2 million. This includes expenses related to data recovery, system repair and loss of customers.

The corporate approach to cybersecurity

It's time for companies to take a more proactive approach to cybersecurity. Below, we list some key measures that can help with this challenge:

1. Education: Training employees in safe online practices is critical. Human error is one of the leading causes of security breaches. Cybersecurity education and awareness are cornerstones in protecting against cyber threats. This is not limited to technology departments; it involves everyone in the organization:

- Training programs: Provide regular training programs for all employees, from senior management to front-line workers, to increase their awareness of cyber threats and teach them how to recognize and respond to potential attacks.

- Awareness testing: Conduct phishing drills and other social engineering exercises to assess employees' ability to detect fraud attempts.

- Security culture: Foster a cybersecurity culture where employees understand that they are a critical part of defending against cyberattacks and feel comfortable reporting incidents.

Invest in technology: Implement robust cyber security solutions, such as firewalls, antivirus and intrusion detection systems. The right technology is essential to protect your business from increasingly sophisticated cyber threats:

- Advanced firewalls: Implement next-generation firewalls that can detect and block malicious traffic in real time.

- Antivirus and antimalware: Use up-to-date antivirus and antimalware solutions to identify and eliminate known threats.

- Multi-factor authentication (MFA): Require MFA for access to critical systems, which adds an additional layer of security in case passwords are compromised.

- Data encryption: Encrypt sensitive data both at rest and in transit to ensure that even if unauthorized access occurs, the information remains unreadable.

3. Constant monitoring: Closely monitoring the network and systems for suspicious activity can help detect and prevent threats before they cause damage. Effective cybersecurity requires constant monitoring and detection of threats:

- Intrusion detection systems (IDS/IPS): Implement systems that can detect unusual or malicious activity on the network and respond proactively.

- Log analysis: Monitor and analyze activity logs for anomalies that may indicate an attack.

- Threat intelligence: Keeping up-to-date on cyberattack trends and tactics used by cybercriminals to fine-tune defenses.

4. Regulatory compliance: Ensure that your company complies with all applicable cybersecurity regulations in your country and region. Compliance is essential to avoid legal sanctions and protect your company's reputation:

- Regular audits and assessments: Conduct internal and external audits to ensure compliance with all applicable regulations.

- Risk management: Identify and assess cybersecurity risks in order to implement proportional measures according to the level of risk.

- Regulatory update: Keep informed about changes in cybersecurity laws and regulations and adjust policies and procedures accordingly.

5. Crisis management: Having an incident response plan in case a cyber-attack occurs is essential to minimize the damage. Having an incident response plan is essential to minimize the impact of a cyber-attack:

- Response team: Designate a dedicated team to manage cyber security incidents and establish clear roles and responsibilities.

- Communication plan: Prepare a communication plan that includes how to inform internal and external stakeholders in the event of a data breach.

- Post-incident evaluation: Conduct a thorough review after an incident to identify lessons learned and improve future response.

Conclusion

Cyber-attacks in Latin America are a worldwide reality that we cannot ignore, especially in Latin America where the publication and consumption of Internet services has been prioritized over cybersecurity. Protecting business data and complying with cybersecurity regulations are imperative for business survival in the digital age. Investing in cybersecurity not only protects company assets, but also strengthens customer confidence and ensures legal compliance. It's time to take action and make cybersecurity a business priority.

With the growing threat of cyber-attacks in our region, Aranda Security Compliance (ASEC) emerges as the essential solution to protect your organization. Soon, we will launch ASEC, a tool that audits the compliance of more than 5,000 applications and security configurations, providing a single point of control, ASEC strengthens the enterprise security posture, ensuring regulatory compliance, risk reduction and optimal technology investment.

Sources:

Report on Cybersecurity in Latin America, Organization of American States (OAS), 2022.

Cost of a data breach study in Latin America, IBM; 2022

In a globalized and highly competitive world, companies face constant challenges. Digitalization, environmental awareness, changing consumer demands and regulatory pressure are just some of the forces shaping today's business environment.  

In this context, companies that prosper in the long term are those that embrace and apply sound business practices. These practices can become a key factor in the success and sustainability of any business, regardless of its size or industry. 

If you have wondered what are those business practices that have led great companies to success, here we tell you: 

• Ethics and Corporate Social Responsibility (CSR):  

Business ethics and CSR are fundamental to building a solid reputation and generating trust in the marketplace. Companies that operate ethically, respect the environment and comply with standards tend to attract customers and business partners who value these principles. In addition, these practices contribute to the well-being of society at large. 

According to the Institute of Business Ethics, 88% of employees believe that a positive ethical culture helps them work more productively. Similarly, an EY study found that 76% of organizations report that ethical considerations are a fundamental part of their business strategies. 

• Constant innovation: 

Innovation is essential to stay relevant in a constantly evolving market. Successful companies innovate not only in products or services, but also in processes and business models. This allows companies to anticipate market trends and offer solutions that meet changing customer needs. 

In addition, constant innovation generates several benefits, including reduced operating costs. In fact, a Deloitte report shows that innovative companies tend to have 30% lower operating costs compared to those that do not innovate constantly. 

• Customer Service: 

Placing the customer at the center of all operations is a fundamental business practice. Actively listening to customers, understanding their needs and responding effectively to their feedback is essential to building strong relationships and fostering customer loyalty; according to Harvard Business Review, a satisfied and loyal customer has a long-term value to an organization that is up to 10 times greater than their first purchase and, in the same vein, a HubSpot report states that 93% of customers are more likely to repeat a purchase with a company that offers excellent customer service. 

In addition, it can also have a significant effect on revenue, market differentiation and cost efficiency. Customer service has become a critical factor for business success in today's era, where positive experiences and customer satisfaction are key to growth. 

• Investment in Human Capital: 

Talented and motivated employees are valuable assets. Companies that invest in the professional development of their staff foster an inclusive work environment and provide opportunities for internal growth tend to have more engaged and productive teams. According to Gallup, 74% of employees believe that on-the-job training and development are essential to their job satisfaction. 

Organizations that recognize the importance of human capital are better prepared to face the challenges of today's marketplace and prosper in the long term; in fact, the World Economic Forum highlights investment in human capital as a key factor for the competitiveness of countries and companies in the global economy. 

In short, good business practices are essential to building a solid, ethical and successful company. They not only benefit companies in terms of reputation and efficiency, but also have a positive impact on society. Companies that adopt and maintain these practices are better positioned for long-term growth in an increasingly demanding and globalized marketplace. 

To conclude, it is worth mentioning that at Aranda Software we are committed to the implementation of best practices such as those mentioned above, which has allowed us to stand out in the market. The combination of constant innovation, customer service, a talented team, a long-term vision and corporate social responsibility has been key to our growth and recognition in the industry.  

I invite you to start reading this article by answering this simple question: Where is the CIO, CISO, or equivalent IT security manager located within the strategic decision-making chain in your organization? If it is at the top of the organizational chart, it is a clear indicator that your company is aware of the importance of information as a key asset to stay relevant in the market. Surely your competitors have been attacked and the security of your technological environment has been breached on more than one occasion (if not directly, through a customer or an external supplier with whom you have a commercial relationship)...

Why do I start with this question? Because the main challenge faced by CIOs / CISOs is in defining, building and sustaining a security posture (their ability to identify as early as possible the occurrence of security breaches, as well as to react to them and take corresponding actions). In an increasingly digitized world, the security posture is highly dynamic and must constantly change, based on new responses to threats and vulnerabilities that appear every day (both from outside and inside organizations). Without going too far, Kaspersky has reported more than 280 million phishing attempts (unauthorized obtaining of personal data to access bank accounts) in Latin America in the last year, 617% more than in the period June 2021 - July 2022. ¹

When trying to implement plans and actions to gradually build a security posture, we encounter a series of pitfalls that make this task more difficult:

- There are multiple security solutions, which are not always updated and configured correctly (e.g. firewall activated for public networks, but not for private networks).

- The organization must comply with regulatory requirements, depending on the legal / industry framework to which it is subject (e.g. PCI DSS for the banking and payment industry, HIPAA for the healthcare industry, GDPR for companies dealing with EU citizens' data).

- Users have administrator permissions on their workstations, and disable security settings without being aware of the effects (e.g. they turn off the antivirus to make the computer "faster").

Aware of this problem and seeking to make compliance with IT security policies simpler and more efficient, at Aranda Software we have created Aranda Software Compliance (ASEC), the solution that helps improve the security posture of your organization thanks to a single point of control that audits the compliance of software and configurations for the most recognized security solutions in the industry.

Why do we believe ASEC will be your new partner in any information security initiative?

- Because it is a 100% Cloud solution, with fast and agile implementation.

- Because it is compatible with hundreds of security solution manufacturers (Acronis, Avast, AVG, CheckPoint, ESET, Fortinet, Kaspersky, McAfee, Microsoft, Symantec, TrendMicro, among others).

- Because it supports from the first day of use the evaluation of compliance with multiple security policies: Antimalware, Antiphishing, Antivirus, Data Loss Prevention (DLP), Encryption, Firewall, Backup, VPN, among others.

- Because it is able to apply immediate remediation actions for equipment that does not comply with defined policies.

- And because it is from Aranda Software, of course. We are the leading company in Latin America in IT management solutions and through our extensive network of offices and business partners in the region, we will accompany you in the use of ASEC, with after-sales support in your language and on your schedule.

Soon you will know more news about Aranda Security Compliance, I invite you to stay tuned to our contact channels to know everything we can do for your company with ASEC!

Alejandro Cañón
Product Manager
Aranda Software

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1. https://latam.kaspersky.com/blog/panorama-amenazas-latam-2023/26586/ ↩︎

We cannot talk about digital transformation in companies without mentioning the technologies that have been evolving over time at an exponentially faster rate, thus generating more efficient companies, with optimized processes in terms of costs and time, and with a reduction in errors. 

Every day more companies have understood the importance of being at the forefront of these technologies, in fact, according to a study by Gartner, this year is expected to increase by 11.5% in the use of enterprise software tools. 

All this is because, in order to compete and survive, companies need to be able to redefine the way they operate and connect with the world, responding quickly and accurately to the new demands of the industry as a whole. Therefore, the implementation of IT Service and Infrastructure Management solutions is the answer to many of the challenges that companies face today. 

Where is enterprise technology headed? 

On the one hand, with all the challenges that organizations have faced in recent years in terms of economics, adaptability and market evolution, among others, companies need technology that allows them to achieve higher levels of efficiency, rationalizing or reducing costs, i.e., doing more with less and faster.  

And secondly, with the unstoppable technological advancement, the role of IT changes to being a primary enabler that has an influential impact on the entire organization and not just a controller of the implementation of technology operations. 

• Greater flexibility and scalability in accessing software tools and functions (Software as a Service). 

SaaS has become a popular choice for businesses and individual users due to its ease of use, low initial cost and ability to access it from anywhere with an Internet connection. This popularity will continue to grow, according to a study by McKinsey, which shows that software obtained by companies from cloud services platforms, open repositories and software as a service (SaaS) is growing at a compound annual rate of 27.5% between 2021 and 2028. 

Instead of purchasing, installing and maintaining software on local devices, users access applications through a web browser. This eliminates the need for local installations and provides greater flexibility and scalability in accessing software tools and functions, which is why it is estimated that by 2024, 70% of companies will employ hybrid or multi-cloud technologies, tools and management processes.  

• Unique and relevant user experiences and increased automation with Artificial Intelligence 

In an increasingly digital and competitive landscape, Artificial Intelligence 

has positioned itself as a fundamental factor driving innovation, efficiency and sustainable business growth. 

Artificial Intelligence not only represents the future of business, it is shaping the future that is already here. From automating routine tasks to making strategic, data-driven decisions, AI is redefining the way businesses operate and compete.  

In addition, thanks to AI-powered personalization, companies will be able to further enhance the user experience through individualization and predictive analytics. In fact, it is estimated that by 2024, more than 50 percent of user touches will be augmented by AI-driven voice, typed word or computer vision algorithms. 

• The power of data and digital trust  

These huge shifts in the focus, power and capability of technology will create many more customer touch points and, as a result, there will be an exponential growth of new user data.  

Against this backdrop, companies must adopt technological tools that have the ability to analyze large data sets to extract valuable information and thus be able to make evidence-based decisions and detect emerging trends. 

On the other hand, with the digital world expanding, IT must expand its capabilities to build trust around security, privacy and the cyber world. According to a study conducted by McKinsey, 57% of organizations suffered at least one major data breach in the last three years and many of these breaches resulted in financial losses, loss of customers or other consequences such as damage to business reputation. 

Therefore, it is of vital importance that companies implement technological solutions that allow them to be at the forefront of cybersecurity issues. In this way, by establishing digital trust in products and experiences that leverage artificial intelligence, digital technologies and data, you will not only meet consumer expectations, but also safeguard the company's reputation, avoid financial penalties and could increase annual business growth rates. As a sign of this, it is estimated that digital trust leaders are 1.6 times more likely than the global average to see revenue and EBIT growth rates of at least 10 percent. 

Given this scenario, from Aranda Software we are constantly working on the innovation of our solutions to offer companies a portfolio of tools that responds to all the above mentioned needs and is constantly evolving to help companies face future challenges in business technology issues. 

The future of business is digital and we are here to drive companies on this journey to success! 

References: 

• https://www.itsitio.com/co/el-futuro-de-la-industria-de-ti-segun-los-analistas-de-idc-y-gartner/ 
• https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/tech-at-the-edge-trends-reshaping-the-future-of-it-and-business 
• https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/tech-at-the-edge-trends-reshaping-the-future-of-it-and-business 
• https://www.mckinsey.com/capabilities/quantumblack/our-insights/why-digital-trust-truly-matters 
• https://hbr.org/2023/01/where-is-tech-going-in-2023 

The use of Artificial Intelligence (AI) tools in ITSM software has become a key element in ensuring efficient operations and increased business productivity. This is because organizations face a constant demand for fast delivery and quality services and, therefore, the integration of Artificial Intelligence in ITSM emerges as a key differentiator. 

For example, an AI-enabled ITSM application offers automated ticket sorting, provides instant responses through a chatbot, and optimizes workload for routine tasks. 

AI service management (AISM), an in-depth look 

If you have wondered what is the difference between traditional Service Management and AI Service Management, the answer is that basically AISM merges service management capabilities with Artificial Intelligence tools to boost efficiency and quality in IT service delivery. 

AISM goes beyond task automation and overcomes the limitations of a traditional ITSM solution by involving advanced machine learning techniques, natural language processing and data analytics to achieve predictive and personalized results, thus improving the speed and efficiency of the tool. 

• More efficient operations  

The adoption of Artificial Intelligence and machine learning considerably reduces ticket resolution times by automatically tagging and routing tickets, as well as enabling their resolution through machine learning models and natural language processing. In other words, it uses certain selected answers and then sends them to the end user in a matter of seconds, thus reducing response times.   

Today, studies show that several organizations have been able to automate approximately 80% of ticket responses (and up to 100% in specific categories), which not only speeds up the process, but also frees support agents to focus on more complex and strategic tasks. 

• Increased Productivity  

Another benefit provided by Artificial Intelligence in an ITSM tool is that through automation it allows the IT service desk team to concentrate their efforts on more difficult calls and tasks, which increases job satisfaction and productivity in organizations. 

As an example of the above, a Forrester study has revealed that employees working with automation experienced a 69% improvement in job satisfaction and 78% of business leaders confirm that task automation increases company productivity. 

This is because automation allows IT support staff to be relieved of repetitive, high-demand requests such as password resets, one of the slowest and most costly tasks an IT department has to manage. 

As an example of this, a Gartner study shows that between 30% and 50% of all calls to the IT service desk are to reset passwords, either due to human forgetfulness or as a security measure, and it is one of the requirements that can occupy up to 40% of the service desk staff's working day. 

Therefore, an ITSM tool with Artificial Intelligence that integrates solutions, such as Aranda PassRecovery, which facilitates the self-management, resetting and management of passwords by the end user, can reduce calls to the service desk by more than 40% and significantly save costs. 

• Increased user satisfaction 

By analyzing user data, Artificial Intelligence can provide personalized recommendations and tailor IT services to the specific needs of each individual.  

Similarly, it improves interaction with users by providing 24/7 virtual assistance, ensuring that users can access help and support at any time. In addition, through an AI-powered chatbot, answers to frequently asked questions can be offered and solutions to common problems can be provided instantly, improving the overall user experience. 

With all of the above, it is worth mentioning that Artificial Intelligence is taking IT Service Management to another level, allowing organizations to be more agile, efficient and oriented to excellence in service delivery. 

Our portfolio of IT solutions incorporates Artificial Intelligence that, in addition to offering all the benefits mentioned in this article, helps companies stay ahead of the curve, analyze IT problems from the root cause, react proactively and solve quickly.   

Discover all that the Artificial Intelligence of our ITSM solutions can do for your company! 

References  

¹ https://itsm.tools/manual-ticket-triage-ai/ 

² https://itsm.tools/automation-reduces-tickets-improves-security/