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Home  »  Economic Outlook 2019  »  Economical Outlook 2019: Mark Shaw
Economic Outlook 2019

Economical Outlook 2019: Mark Shaw

Posted onJanuary 10, 2019January 11, 2019
Mark Shaw, president and CEO of Stored Technology Solutions Inc. (StoredTech).

By Mark Shaw

Last year we spoke about everything as a service. That is absolutely the case today. From phone systems to access control you can truly have access to all the latest technology in a monthly service fee.

This eliminates the need to purchase anything. Your business can gain access to the same technology used by the Fortune 500 without any major capital outlay.  This model will continue for the foreseeable future and if you have not already been reaping those benefits, talk to your technology department or company today.

In 2019 the focus is going to be hyper-active around security—security at every level in your business. From physically on the doors and entry points backed up by cameras, to your data on every device. We have been bombarded by news of firms being hacked, held at ransom, or even shut down due to breaches.

The government is taking notice and the same GDPR (rules for personal data use and security in the EU) are being considered here. New York is starting to crack down on vendors selling and installing security and camera systems. It is not often known, but to even touch a camera in a business workplace, the vendor must be licensed to do so. Combine this with talks about a New York State version of the EU rules for data privacy and you have a tornado of new laws set to make security the focus.

This will be the year of cyber security. The government rules alone are nothing but guidelines, they are boxes to be checked. The true ability to protect yourself is to become engaged with your company’s security policies and not just to follow a set of compliance rules.

Cyber Security is no longer something you can check a box with an annual audit and pretend that you are safe. These annual audits are like taking a photo in Times Square at 3 a.m. and saying, “This is how it always looks.” The bad guys don’t line up for a picture or work 9-5. Security will become a new line of defense that starts with training and ends with 24/7/365 monitoring.

When new government laws are produced companies will need to react and respond. Cyber Security will become part of how senior level executives are compensated. Zero breach of their part of the firm, bonus. Security and protection of the company and client assets will be woven in to the fabric of all firms. This is not a technology problem, this is a business problem.

Vendors will be held more accountable and firms will be required to take more than the most basic of security actions.

As a final note, consider this story. A home gets broken in to in your neighborhood. How do people respond? They offer support, advice, and start a go-fund-me. They feel terrible for the those whose home was violated.

There is an outpouring of support and empathy. If your business gets broken in to and stuff is stolen, how do the same people react? They blame the victim. The company did something wrong to get hacked, they were lazy, they made stupid choices. It`s the one crime committed against you in which you lose your reputation.  Think about this when you consider what your plans for 2019 and security are.

Previous Article Economic Outlook 2019: Mayor Meg Kelly and Commissioner of Finance Michele Madigan
Next Article Economical Outlook 2019: Marty Vanags, CEcD
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