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Cybersecurity Solutions for Singapore SMEs

As the digital world becomes a larger part of our lives, cyber threats increase in both impact and frequency. The global trend in the cyber landscape is for attacks to be less profit-motivated. To address this, a Singaporean telecommunications provider is launching a new suite of cybersecurity solutions developed in collaboration with an India-based global IT solutions provider. Cybersecurity consulting, incident response, data protection, vulnerability testing, managed firewall, and managed endpoint are all part of the new suite of solutions

The offering is primarily aimed at Singapore’s small and medium-sized enterprises (SMEs), with the telco claiming that the new suite comes at a time when nearly half of all reported crimes in Singapore are cybercrime-related. Indeed, the Cyber Security Agency of Singapore (CSA) last month flagged an increase in cyber threats, such as ransomware and online scams, during 2020.

Nearly 40% of cyberattacks in Singapore target small and medium enterprises. The most common methods were phishing attempts and ransomware.

Cyber Security Agency of Singapore

The CSA’s latest report revealed that 89 ransomware cases were reported to the agency in 2020, representing a sharp rise of 154% from the 35 cases reported in 2019. These cases affected mostly SMEs and hailed from sectors such as manufacturing, retail, and healthcare.

This is a concerning trend in Singapore, where SMEs account for 99% of businesses and employ more than 70% of the workforce. SMEs play an important role in the expansion of the economic value chain and are a component of the digital economy. Moreover, as subcontractors and vendors to large enterprises and even government agencies, they are the first link in Singapore’s business supply chain.

With more SMEs going digital in the industry 4.0 environment, they may become vulnerable to cyber threats such as phishing attacks, defacements, and ransomware. For many lean SMEs, being hacked would mean that normal operations would come to a halt. This results in a loss of revenue as well as a negative impact on their company’s reputation. A malware attack could be the start of the end for a small business. If personal data is stolen, they may face legal consequences.

SMEs are increasingly shifting to remote or hybrid work environments and, consequently, cybersecurity threats targeting their vulnerabilities will continue to rise. Experience and data on SMEs show that they may be reluctant to adopt modern cybersecurity tools due to their perceived high cost and complexity. SMEs are typically more susceptible to cyber-attacks because they often lack the knowledge and ability to deal with such threats.

The managing director of the telecommunications company believes that all organisations deserve world-class protection no matter their size. The new cybersecurity solutions bring enterprise-grade protection to small and medium businesses, allowing them to focus on their deliverables and giving them one less thing to worry about. This is more pertinent in the context of working in the context of a pandemic.

OpenGov Asia reported that The Cyber Security Agency of Singapore (CSA) has launched a new “Better Cyber Safe than Sorry” national cybersecurity awareness campaign. The fourth edition of CSA’s national cybersecurity awareness campaign continues to focus on raising awareness and driving adoption of four good cybersecurity practices: use of strong passwords and enabling two-factor authentication which is spotting signs of phishing; use of anti-virus software; and updating computer software.

The campaign focuses on drawing parallels between these four cybersecurity practices and our everyday life. For example, the analogy of using a strong lock to secure one’s home parallels the good cybersecurity practice of using strong passwords and enabling 2FA to secure one’s online accounts.

As cities continue to grow and develop in tandem with the digital revolution, cybersecurity is becoming increasingly important for everyone, not just businesses. Cybercriminals have already realised this and have updated their tactics; SMEs must do the same. At the end of the day, all businesses are communities of people working together to achieve a goal, and the security of that goal is shared by all.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.