Category Archives: Cloud Servers
ConnectWise releases 2023 MSP Threat Report with insights into … – iTWire
GUEST RESEARCH: ConnectWise, the worlds leading software company dedicated to the success of IT solution providers (TSPs), has announced the findings of its annual MSP Threat Report. Now in its fourth year, the report provides an analysis of the major MSP-related security events and trends from the past 12 months, alongside predictions for the year ahead.
ConnectWise Cyber Research Unit (CRU) analysed over 440,000 incidents that impacted MSPs and their clients and identified the top five ransomware variants used to target MSPs in 2022, some of the biggest vulnerabilities impacting MSPs, and used this data to make predictions about upcoming trends MSP should be aware of.
"The findings of this year's Threat Report highlight the growing importance of cybersecurity for MSPs and their customers. As the threat landscape continues to evolve, MSPs must remain vigilant and take proactive steps to protect their networks and clients, commented ConnectWise chief information security officer Patrick Beggs.
By adopting a zero-trust network architecture, leveraging threat intelligence research and investing in specialised cybersecurity training, MSPs can stay ahead of the curve and build more effective protection for their mission-critical infrastructure and services. ConnectWise is proud to have a foundation of transparency and an integrated cyber infrastructure that supports reports like this. We can develop and deliver cybersecurity products and services while leveraging the latest threat intelligence to protect our partners letting them connect with confidence."
The report includes visuals so MSPs can cross-reference common techniques used and determine which are most likely to impact their business and customers. A heat map of the Mitre Att&ck techniques and sub-techniques observed during 2022 allows MSPs to be more confident in investing in cybersecurity efforts that will have the most impact in defending against attacks.
One of the significant findings in the report is the emergence of a new phishing technique used by bad actors targeting MSPs. It works by exploiting changes in the default behaviour of Visual Basic Application (VBA) macros handled in Microsoft Office documents downloaded online. In 2022, this approach led to a rise in the use of LNK files to deliver payloads, which would then lead to ransomware deployments.
Based on this detailed insight, the report also offers a series of cybersecurity predictions for MSP in 2023 and beyond:
- MSPs will remain the target of supply chain and critical infrastructure attacks. As a result, many MSPs will look to an outside partner with the right expertise to start strengthening their cybersecurity posture.
- Zero trust network architecture is critical for MSPs. The most vulnerable MSPs are those without zero-trust network architecture (ZTNA), which is why governments worldwide will continue to expand their programs to require ZTNA from their vendors.
- Leveraging threat intelligence research and inter-organisational collaboration is essential for MSPs. Understanding current threats can help MSPs prioritise their time and efforts on what will have the most significant impact on their networks and those of their clients.
- Specialised cybersecurity training will increase across the industry, but ramp-up will take time. While diversified skillsets have worked thus far for MSPs, evolving threat landscapes is best addressed with cybersecurity specialists.
About the reportThe ConnectWise 2023 MSP Threat report was created by the ConnectWise Cyber Research Unit (CRU)a dedicated team of ConnectWise threat hunters who identify and research new vulnerabilities and publicly share what they find across the community. The CRU monitors ransom leak sites and malicious botnets for new threats, uses OSINT resources, and utilises data from ConnectWise SIEM to help create content and complete research.
Reducing WAN latency is one of the biggest issues with hybrid cloud performance. Taking advantage of compression and data deduplication can reduce your network latency.
Research firm, Markets and Markets, predicted that the hybrid cloud market size is expected to grow from US$38.27 billion in 2017 to US$97.64 billion by 2023.
Colocation facilities provide many of the benefits of having your servers in the cloud while still maintaining physical control of your systems.
Cloud adjacency provided by colocation facilities can enable you to leverage their low latency high bandwidth connections to the cloud as well as providing a solid connection back to your on-premises corporate network.
Download this white paper to find out what you need to know about enabling the hybrid cloud in your organisation.
DOWNLOAD NOW!
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ConnectWise releases 2023 MSP Threat Report with insights into ... - iTWire
Managing the risks of unstructured data growth – Help Net Security
Locating and identifying sensitive data, including defense-in-depth strategies where a series of mechanisms are layered to protect valuable information, should be a critical component of any cloud data security strategy, say experts at Aparavi.
Data security refers to protecting digital information from unauthorized access, corruption or theft throughout its lifecycle. Cloud data security focuses specifically on protecting digital information in the cloud.
With cyberattacks increasing in both sophistication and frequency, and regulatory requirements regarding the privacy of and access to data more complex (and fines more expensive), organizations need a better way to overcome the challenges of securing their data regardless of whether it resides on premise, at the edge or in the cloud.
Much of the data in the cloud is unstructured and highly vulnerable to cyber threats. Unstructured data can include anything from emails and FedEx receipts to sensor data and social media feeds.
It often contains files with personal or sensitive information, like personnel documents, school records, credit card information, medical history and other personally identifiable information.
With the exponential growth of unstructured data and increases in the number of users and devices generating, accessing and using it, the number of vulnerabilities and opportunities for attack have risen as well.
Whether data resides on on-premise servers or in the cloud, no amount of cybersecurity protection will help if you dont know what you have, said Adrian Knapp, CEO of Aparavi.
Thanks to data silos, shadow IT and other factors, many organizations dont know where their unstructured data resides, what their unstructured data contains, who has access to it or how often its being accessed. To mitigate the risks associated with unstructured data and meet compliance, data security and privacy requirements organizations need to deploy IT security assets to help them find and identify sensitive data in order to overcome threats in their cloud environments, Knapp concluded.
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Managing the risks of unstructured data growth - Help Net Security
Businesses face increasing security threats as cybersecurity … – iTWire
Businesses are confronting the dual challenge of declining or stagnating cybersecurity budgets and escalating and increasingly complex threats in the face of economic turmoil, according to a new survey of global security executives.
According to data from Telstra Ventures forthcoming ClubCISO report, which surveyed 182 global CISOs, 14% of respondents said their budgets had either decreased or been cut completely, with a third (34%) stating these decreases were due to economic downturn/potential recession, while 30% revealed cuts had been driven by profit and loss pressures.
Telstra revealed the results of the survey after bringing together industry leaders from Attack IQ, Cofense and Corvus Insurance to discuss how to tackle the issue.
Cofense says the security challenges come at a time when threats are surging, and in 2022, Cofense Intelligence, which sources insights from the companys global network of more than 35 million people detected 569% more malicious phishing emails, had a 478% increase in the number of credential phishing - related Active Threat Reports published, and identified a 44% increase in malware.
This follows a recent study from AttackIQ, which revealed that the companys cloud customers found that endpoint detection and response (EDR) security controls only stopped top adversary techniques 39% of the time, highlighting the importance of continuous testing to maximise return on investment.
The report notes that compounding the challenge is the fact that threats are becoming increasingly sophisticated, and according to Cofense, 2022 saw a 341% increase in Web3 technologies being used in phishing attacks.
With economic pressures raging, attacks are becoming more financially motivated; some 37% detected by Cofense last year were financial-related, underscoring the risk breaches pose to businesses bottom lines, the report reveals.
This was further supported by Corvus, with ransomware and fraudulent funds transfer being consistent tactics of choice for threat actors in Q3 2022, together representing more than half of all Corvus claims.
Despite this concerning outlook there remains optimism, with 52% of ClubCISO respondents experiencing increases in their security budget in spite of economic headwinds. Of this figure, 39% stated this was due to the evolution of the threat landscape, demonstrating recognition of the need to bolster security capabilities in the face of increasing risk.
Camille Mendler, Chief Analyst, Enterprise Services, at Omdia, who chaired the panel, framed the conversation by discussing the increasingly fragmented security landscape, and how it is vital that security is seen as a business priority and not just a CISO responsibility. Keith Ibarguen, CPO, Cofense, called on the industry to collaborate and share intelligence to mitigate threats, with the company announcing that its global network has enabled it to achieve a 99.996% occurrence on phishing analysis over the last year.
Jonathan Reiber, Vice President at AttackIQ, an independent vendor of breach and attack simulation solutions, stressed the importance of democratising cybersecurity to both mitigate cost pressures and tackle threats - and the importance of leveraging resources already available.
In particular, he called on companies to pay close attention to the MITRE ATT&CK Framework, and how it can help companies bolster their security capabilities against known techniques.
Reiber said: Whats changed the democratisation of preparedness in cybersecurity is this framework that says this is how an attack works. You can then build defences around these methods. We now know what adversaries do. We see the same tactics and techniques repeated over and over. What companies must do is exercise their defences against those known tactics and techniques.
Speaking ahead of the panel, he spotlighted the role of technology not just in terms of threat mitigation, but to help companies secure cybersecurity insurance while reducing premiums.
Drawing on the example of a leading bioscience company, Reiber highlighted how data from AttackIQ had enabled the organisation to work with their underwriter to reduce their insurance costs, helping to save the company money at a critical time.
Lori Bailey, Chief Insurance Officer at Corvus Insurance, further emphasised the need for data-driven risk mitigation, and discussed how insurance can be combined with real intelligence on vulnerabilities to make policyholders safer.
Bailey also commented on the urgent need for insurance coverage to be adapted to current threats, stating: While the cyber attack continuum has been evolving and continues to grow irrespective of the economic environment, with the economic downturn, we are seeing a real increase in activity - and tightening of security budgets.
From an insurance standpoint, were very focused on making sure that if policyholders are facing budget constraints, they are really focused on the areas that are going to make the most impact and have the most robust outcomes. Events such as the banking crisis over the last few weeks create huge pockets of opportunities for ransomware and threat actors.
It's these types of incidents for which we make sure our policyholders are educated, look for areas where they can protect themselves, and ensure they do not fall victim to these threats.
Despite the increasing risk, the industry leaders remained broadly optimistic, particularly given the advent of technology to tackle challenges. However, technology alone is not enough to mitigate threats and people capabilities must be seen as just as important, noted Rob Robinson, head of Telstra Purple, EMEA: Keeping pace with the rapidly evolving threat landscape requires innovative technology, but thats only part of the solution.
Organisations must also focus on people and actively promote a culture that empowers employees to act as the first line of defence against emerging threats. With 29% of security leaders viewing the human element as a key determining factor of cyber resilience, ingraining security into an organisations DNA ensures that security best practices and behaviours become second nature.
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Businesses face increasing security threats as cybersecurity ... - iTWire
Where is Cloud Computing Heading in 2023? | Foley & Lardner LLP … – JD Supra
Foley Forward: Trends 2023
The cloud computing market has grown at a rapid rate and is expected to continue that trajectory for years to come. With this increasing demand, it is important to stay up to date on the latest trends and technologies so you can make the most of the opportunities available. Here are some of the trends in cloud computing that you should look out for in 2023:
Edge computing is quickly gaining traction due to its ability to process data closer to where it is being generated. As more devices become connected, edge computing allows for the processing of an increased amount of data without having to send it to the cloud. This reduces latency and improves performance, making it an invaluable tool for any business.
As a side effect, edge computing allows for enhanced cybersecurity as data never needs to leave the device, providing an extra layer of security for businesses. Furthermore, it also provides cost savings for businesses as data processing can be done locally without the need for expensive cloud infrastructure.
Cloud computing has become an integral part of organizations in the modern digital world, with an unparalleled ability to provide scalability and flexibility to businesses. However, security has increasingly become a key focus of organizations utilizing the technology. Security is and will always be an essential component of cloud computing, and organizations must take steps to ensure that their cloud environment is secure. Security is critically important because it ensures that confidential data is kept safe from malicious actors, and it also helps protect cloud infrastructure from cyber threats.
In the cloud computing environment, organizations must ensure that access to their services and data is secure and that all data is encrypted and stored securely. Organizations must also ensure that their cloud infrastructure is regularly monitored and updated to protect against potential security breaches. Companies need to continue to invest in advanced security technologies as well as to develop policies and procedures to protect data and ensure that their cloud environment is compliant with relevant regulations and industry standards.
The importance of artificial intelligence and machine learning is rising in the field of cloud computing. Companies are now starting to leverage these potent technologies in ways that were previously impractical, thanks in particular to cloud computing. At a fraction of the cost of conventional computing systems, cloud computing offers access to enormous datasets, potent processing resources, and complex algorithms. With the ability to base judgments on the data they have obtained, this has enabled businesses to develop more accurate and effective models. Task automation, increased effectiveness, and cost savings are all now within reach. As cloud computing becomes more accessible and affordable, machine learning and artificial intelligence will become increasingly prevalent in many industries. In 2023, we can expect to see more companies using these technologies in combination with cloud computing to gain a competitive edge in the market.
Applications that are cloud-native are created to benefit from the scalability, adaptability, and affordability of cloud computing. These tools can subsequently be used to build solutions that are specifically tailored to an organization's needs. Cloud-native applications are rising in popularity as businesses turn away from on-premises technology and toward cloud-based solutions. Businesses can swiftly provision the resources required to run their applications as well as scale up and down as appropriate. Additionally, distributed computing's power is harnessed by cloud-native programs, resulting in better resource usage, performance, and availability. These advantages make cloud-native apps a tempting option for businesses wishing to maximize cloud computing.
The way that companies and developers access computing resources is changing thanks to the innovative technology known as serverless computing. Simply said, serverless computing enables companies to execute apps without having to manage any infrastructure or servers. This allows businesses to concentrate on developing their applications rather than worrying about managing the underlying infrastructure. As a result, it is an appealing option for businesses seeking an easier approach to deliver apps.
Over the coming years, serverless computing will continue to gain in popularity as businesses look for more affordable and efficient ways to deploy programs. As a result, there will be less of a need for server provisioning and management, which can be an expensive and time-consuming necessity. Complementary to its other advantages, serverless computing also provides greater security because organizations are relieved of the responsibility of maintaining the underlying infrastructure.
We expect to see companies taking advantage of the synergistic combination of serverless computing, edge computing, artificial intelligence, and machine learning to further drive efficiencies, experience, and performance. While edge computing enables local processing of data, serverless computing enables users to access their data from anywhere. In order to increase the speed, accuracy, and scalability of these applications, artificial intelligence and machine learning will benefit from leveraging both serverless and edge computing. This will lead to quicker decision-making and optimized performance.
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Where is Cloud Computing Heading in 2023? | Foley & Lardner LLP ... - JD Supra
Aussie Broadband adds 5G plans without the speed cap – iTWire
Aussie Broadband's latest Fast Track 5G mobile plan provides 30GB of data at uncapped 5G speeds for $45 a month.
According to Aussie Broadband, its average 5G service speed is around 500Mbps, more than three times the 150Mbps capped speeds provided by entry-level 5G plans from other telcos.
"We believe that 5G customers should get exactly that: the full 5G experience," said Aussie Broadband chief strategy officer Jonathan Prosser.
"As Australians' need for speed and data increases, it's imperative that 5G users get access to the full bandwidth their devices need and deserve. We think this approach will not only better serve the needs of Aussie Broadband customers but also the wider 5G market as more Australians merge onto the 5G network."
The 30GB/$45 Fast Track plan is available immediately to new and all existing Aussie Broadband customers. It also includes unlimited national calls and texts, and $50 credit towards international calls.
For those requiring more 5G data, the $70 Future Now mobile plan now includes 220GB of data instead of 200GB for the same price
The company offers the first month free for all new mobile plans, regardless of whether the customer has an existing Aussie Broadband service.
Reducing WAN latency is one of the biggest issues with hybrid cloud performance. Taking advantage of compression and data deduplication can reduce your network latency.
Research firm, Markets and Markets, predicted that the hybrid cloud market size is expected to grow from US$38.27 billion in 2017 to US$97.64 billion by 2023.
Colocation facilities provide many of the benefits of having your servers in the cloud while still maintaining physical control of your systems.
Cloud adjacency provided by colocation facilities can enable you to leverage their low latency high bandwidth connections to the cloud as well as providing a solid connection back to your on-premises corporate network.
Download this white paper to find out what you need to know about enabling the hybrid cloud in your organisation.
DOWNLOAD NOW!
Marketing budgets are now focused on Webinars combined with Lead Generation.
If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.
The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.
Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.
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Aussie Broadband adds 5G plans without the speed cap - iTWire
Fujitsu completes full integration of Versor – iTWire
Fujitsu has completed the full integration of data, analytics & AI consultancy Versor one year after acquiring the company in April 2021.
Under the integration Versor will be known as Fujitsu Data & AI, Asia Pacific (APAC) under the leadership of CEO Dougall McBurnie (pictured).
Fujitsu says Versor will continue to provide data engineering, advanced analytics and data science & AI services, which is a core capability of its digital transformation consulting services, across the APAC region
Graeme Beardsell, Chief Executive Officer at Fujitsu Asia Pacific said, "We are delighted to announce that Versor has been fully integrated into the Fujitsu family.
This strategic integration strengthens Fujitsu's data capabilities, cultivating new levels of innovation for Fujitsu's customers and accelerating their digital transformations. It addresses the growing demand for advanced data consulting expertise in the APAC market, further cementing Fujitsu's position as a leader in digital transformation.
Dougall McBurnie, CEO of Versor, said, "Since the acquisition, the Versor business has gone from strength to strength with expansion into Asia, New Zealand, Western Australia, and the Australian Capital Territory.
It has also experienced accelerated growth across Victoria, New South Wales, and Queensland. Versor's customers are already benefitting from Fujitsu's broad range of digital transformation services and products. As Fujitsu Data & AI, APAC, our experienced team of Data & AI specialists will continue to deliver exceptional services to our current and new customers."
Reducing WAN latency is one of the biggest issues with hybrid cloud performance. Taking advantage of compression and data deduplication can reduce your network latency.
Research firm, Markets and Markets, predicted that the hybrid cloud market size is expected to grow from US$38.27 billion in 2017 to US$97.64 billion by 2023.
Colocation facilities provide many of the benefits of having your servers in the cloud while still maintaining physical control of your systems.
Cloud adjacency provided by colocation facilities can enable you to leverage their low latency high bandwidth connections to the cloud as well as providing a solid connection back to your on-premises corporate network.
Download this white paper to find out what you need to know about enabling the hybrid cloud in your organisation.
DOWNLOAD NOW!
Marketing budgets are now focused on Webinars combined with Lead Generation.
If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.
The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.
Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.
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Fujitsu completes full integration of Versor - iTWire
Cloud-Based VDI Market 2023 | Worth US$ 16.6 Billion by 2028 | CAGR of 16.07% – EIN News
Cloud-Based VDI Market 2023-2028
The global cloud-based VDI market size reached US$ 6.8 Billion in 2022 and expects to reach US$ 16.6 Billion by 2028, at a CAGR of 16.07% during 2023-2028.
The global cloud-based VDI market size reached US$ 6.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.6 Billion by 2028, exhibiting a growth rate (CAGR) of 16.07% during 2023-2028.
Cloud-based Virtual Desktop Infrastructure (VDI) is a service that allows users to access a virtual desktop environment from anywhere with an internet connection. This model hosts the desktop environment on cloud servers rather than local hardware, providing greater flexibility, scalability, and accessibility. Users can access their virtual desktops through a web browser or dedicated application, and the virtual environment can be customized to meet individual needs. Cloud-based VDI offers centralized management, improved security, and cost savings over traditional desktop computing models. Organizations can also easily provision or de-provision desktops as needed, making it a popular choice for remote work and BYOD (bring your own device) policies.
Request Free Sample Report: https://www.imarcgroup.com/cloud-based-vdi-market/requestsample
Global Cloud-Based VDI Market Trends:
The global market is majorly driven by the increasing popularity of remote work. In line with this, the rising need for flexible, secure, and scalable computing solutions is significantly contributing to market growth. Furthermore, the cloud-based VDI offers benefits such as cost savings, centralized management, and improved security, driving its adoption in various industries such as IT, healthcare, BFSI, and education. Apart from this, the emerging trend of digitization and virtualization is creating a positive outlook for the market. Moreover, the growing integration with artificial intelligence (AI) and virtual reality (VR) across various industrial verticals and the emerging trend of Bring Your Own Devices (BYOD) are providing a boost to the market. Additionally, extensive research and development (R&D) activities are anticipated to drive the market further.
Explore the Full Report with TOC & List of Figures: https://bit.ly/3y7leQO
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
Amazon Web Services Inc. Cisco Systems Inc. Citrix Systems Inc. Dell Inc. Hp Inc. International Business Machines Microsoft Corporation NComputing Co. Ltd. Rackspace Us Inc. Vmware Inc.
Key Market Segmentation:
Breakup by Deployment Type:
Private Public Hybrid
Breakup by End-User:
Small and Medium Enterprises Large Enterprises
Breakup by Vertical:
BFSI Government Healthcare Telecom and IT Education Others
Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
Market Performance (2017-2022) Market Outlook (2023-2028) COVID-19 Impact on the Market Porters Five Forces Analysis Historical, Current and Future Market Trends Market Drivers and Success Factors SWOT Analysis Structure of the Market Value Chain Analysis Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Explore the Latest Research Reports 2023-2028:
India Social Commerce Market Report: https://www.digitaljournal.com/pr/news/india-social-commerce-market-2023-statistics-porters-five-forces-analysis-size-estimation-share-report-2028
India Kraft Paper Market Report: https://www.digitaljournal.com/pr/news/india-kraft-paper-market-price-swot-analysis-2023-2028-major-drivers-challenges-top-marketing-strategies-business-opportunity-report
India Beer Market Report: https://www.digitaljournal.com/pr/news/india-beer-market-2023-2028-major-drivers-challenges-top-companies-share-consumption-research-state-wise-report
India Real Estate Market Report: https://www.digitaljournal.com/pr/news/india-real-estate-market-2023-2028-sales-value-major-drivers-challenges-sector-value-chain-analysis-future-forecast-report
India Extruded Snack Food Market Report: https://www.digitaljournal.com/pr/news/india-extruded-snack-food-market-2023-2028-size-estimation-share-overview-price-analysis-competitive-structure-report
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Elena AndersonIMARC Services Private Limitedemail us here+1 6317911145
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Cloud-Based VDI Market 2023 | Worth US$ 16.6 Billion by 2028 | CAGR of 16.07% - EIN News
NeutraDC and Chinese Mobile International partner for data centre … – iTWire
Data centre arm of Telkom Indonesia NeutraDC has inked a partnership with China Mobile International to explore opportunities for data centre development and expansion in the Southeast Asia region.
Through this Memorandum of Understanding, we will provide Chinese companies with a comprehensive solution to enter the Southeast Asian market, along with knowledge and support to help them navigate the complexities of doing business in the region, said NeutraDC CEO Andreuw Th.A.F.
"It is very exciting to have this opportunity to collaborate with NeutraDC to provide our customers with even more comprehensive and innovative solutions to expand their business to Southeast Asia," said CMI Indonesia managing director Daniel Zhang.
NeutraDC offers a pathway to Indonesia's digital economy. A TDE brand, NeutraDC offers a hub of TDE's data centre resources, a digital ecosystem where any party (including hyperscale players) can tap integrated digital infrastructure with network connectivity.
With over 171 million active internet users, Indonesia represents a huge potential market under the strong economic ties between China and Indonesia.
This first appeared in the subscription newsletter CommsWire on 31 March 2023.
Reducing WAN latency is one of the biggest issues with hybrid cloud performance. Taking advantage of compression and data deduplication can reduce your network latency.
Research firm, Markets and Markets, predicted that the hybrid cloud market size is expected to grow from US$38.27 billion in 2017 to US$97.64 billion by 2023.
Colocation facilities provide many of the benefits of having your servers in the cloud while still maintaining physical control of your systems.
Cloud adjacency provided by colocation facilities can enable you to leverage their low latency high bandwidth connections to the cloud as well as providing a solid connection back to your on-premises corporate network.
Download this white paper to find out what you need to know about enabling the hybrid cloud in your organisation.
DOWNLOAD NOW!
Marketing budgets are now focused on Webinars combined with Lead Generation.
If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.
The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.
Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.
We look forward to discussing your campaign goals with you. Please click the button below.
MORE INFO HERE!
Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites:Tatler Philippines,Manila Bulletin,CNN Philippines Life,Philippine Star,Manila Times, andThe Daily Tribune.Kenn now covers all aspects of technology news for iTWire.com.
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NeutraDC and Chinese Mobile International partner for data centre ... - iTWire
Box: Focus On The Free Cash Flow And Recurring Revenue For … – Seeking Alpha
Justin Sullivan
Yes, there is a lot of volatility out there in the markets right now. That doesn't mean that the right solution is to sit out off the markets or bias our portfolios to index funds. The best way to put our money to work right now is to stock-pick aggressively, and right now, I think value tech stocks are quite an attractive buy.
Box (NYSE:BOX), for example, checks off a lot of my wish list items. The stock is down nearly 20% year to date with losses accelerating after a recent earnings release, indicating there is turnaround potential. It's still achieving double-digit revenue growth from a constant-currency perspective, and it's achieving large operating margin gains. And best of all, Box is also cheaply valued from both a top and bottom-line perspective. It's a great time for investors to re-assess the bull case here.
I remain bullish on Box as a long-term hold and have added more on the recent dip. Box is one of the few cloud stocks of the "first wave" that went public in the earlier half of the 2010s, and it is also one of the few to have graduated from hyper-growth mode into sizable profitability. In spite of this shift and the fact that Box's reliable recurring revenue stream is now spitting out troves of free cash flow, Box has still failed to find much love on Wall Street and among mainstream investors. But with such sizable profits, I'm keen to adhere to a long-time market adage - over the long run, the market is a weighing machine and not a voting machine.
For investors who are newer to Box or catching up on this stock, here is my full bullish thesis for the company over the long run:
The biggest draw to Box, of course, is its ultralow price. At current share prices near $25, Box trades at a market cap of $3.66 billion. After netting off the $461.3 million of cash and $369.4 million of debt on the company's Q4 balance sheet, Box's resulting enterprise value is $3.57 billion.
Box outlook (Box Q4 earnings deck)
For FY24 (the year for Box ending in January 2024), the company is guiding to $1.05-$1.06 billion in revenue (+7% y/y on an as-reported basis, and +10% y/y on an FX-neutral basis after accounting for an estimated 3-point headwind from currency movements). Considering Box exited Q4 at a 15% y/y growth rate in constant currency terms, this outlook may be a tad conservative.
The company is also guiding to a 25% pro forma operating margin, up from 23% in FY23.
From a revenue standpoint, Box's valuation stands at just 3.4x EV/FY24 revenue. Due to its maturity, its cash flow based valuation may be more relevant. In FY23, the company generated $293 million of free cash flow at a 29.5% margin. If we assume Box's two points of operating margin expansion also carries into FCF, a 31.5% margin on FY24 midpoint revenue of $1.055 billion would imply $332 million of free cash flow (+13% y/y). Against this estimate, Box trades at 10.8x EV/FY24 estimated FCF.
Any way you slice it, the theme is clear: Box sits at a fairly low-risk entry point with low expectations.
Let's now turn to Box's latest quarterly results in greater detail. The Q4 earnings summary is shown below:
Box Q4 results (Box Q4 earnings deck)
Box grew revenue at 10% y/y to $256.5 million in the quarter. There was substantial drag from currency fluctuations embedded here: on a constant-currency basis, Box's revenue would have grown at 15% y/y, decelerating only two points from 17% y/y FX-neutral growth in Q3.
Cross-selling multiple products continues to be the bread-and-butter of Box's strategy. Box Suites is now present in 72% of Box's new deals, up from just 65% in the year-ago Q4, while overall churn remained low at 3%.
Box Suites trends (Box Q4 earnings deck)
Deal volume, admittedly, is slowing down due to the macroeconomy where all spend (including and especially IT spend) is getting more scrutiny. For this reason, billings growth clocked in at just 6% y/y (9% on a constant-currency basis).
The company is taking advantage of the slowdown to focus on margin growth. Per CEO Aaron Levie's remarks on the Q4 earnings call:
Finally, over the past year, we have been executing on our strategy to drive long-term sustainable growth while also delivering continued operating margin improvements. As we began to see the impact from the challenging macro, we adapted to the environment and continued to deliver significant gross and operating margin expansion. Even amidst the ongoing macro dynamics, which may pressure top line results at times, we remain focused on continuing to deliver bottom line improvements. We are driving efficiency across the business, making ROI-based decisions across every area of investment from product to go-to-market initiatives, continuing to improve our gross margin by fully moving into the public cloud and driving operational excellence in everything we do."
Gross margins improved 340bps y/y as a result of the company's transition toward using public cloud servers, which will be fully complete by FY24. On the opex side, Box grew its sales headcount by 15% y/y in FY23, but intends to slow that down to the mid-single digits in FY24.
Operating margins clocked in at 26% in Q4, up 520bps from the year-ago quarter. Note as well in the trended charts below that operating margin has consistently expanded each and every quarter in FY23:
Box operating margin progression (Box Q4 earnings deck)
Amid market volatility, it's never a bad idea to invest in an out-of-spotlight and undervalued stock like Box that isn't riding on overly high expectations. Sit on this company and wait for the rebound.
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Ransomware: paying the price … twice – IT-Online
Ransomware attackers extorted $456,8-million from victims in 2022 40% down from $765,6-million in the previous year but, before glasses are clinked in celebration, there are some significant caveats to consider.
The recent hack of Euler Finance where $135-million in staked Ether tokens (stETH) was drained from the protocol is a case in point. How organisations react to these attacks differs vastly and the outcomes will most definitely shape regulation in this beleaguered asset class.
In a recent poll conducted by Naoris Protocol, a decentralised cybersecurity platform, it would appear that businesses are indeed doubling down on ransomware attackers by refusing to pay the price of clawing back stolen/encrypted data.The poll asked the question: If you or your company were a victim of a ransomware attack, would you pay the attacker (including trying to negotiate a lower fee)?.
Interestingly the majority of respondents (70,8%) said that they would not pay the ransom and would report the attack to the relevant authorities. This was surprising, as the findings do not correlate to other statistics on ransomware reporting. According to other reports, just 42% of companies who fall prey to a ransomware attack actually report it.
David Carvalho, CEO and co-founder of Naoris Protocol, says: Its much easier to take the moral high ground when the question is theoretical. When confronted with the reality of a ransomware attack that could cost your business millions per day, along with potential brand and reputational damage, businesses may be more reluctant to take a moral stance.
The next largest group in the poll 16,55% said they wouldnt pay the ransom nor report the attack, but would rely on backups to restore data. Other research shows that out of all ransomware victims 32% pay up, but they only get 65% of their data back with only 57% of businesses successful in recovering data from backups.
So this strategy does not work as an effective measure to retrieve data. To add insult to injury, more than a third of companies who paid a ransom to retrieve their data were targeted a second time and charged even more than the first attack, with 41% failing to recover all of their data.
While the number of successful ransomware attacks is down year on year, attack methods are evolving. Traditionally, attacks are carried out by encrypting target data and perpetrators charge victims a fee for the decryption key. Now, criminals are resorting to double extortion tactics, threatening to sell the data if the ransom isnt paid. They also use Denial of Service attacks and harassment via email or phone.
While the number of ransomware payouts has dropped, the average ransomware amount is increasing. Unit 42, a cyber risk assessment company, reports that the average ransom demanded in 2021 was approximately $2,2-million a 144% increase from the average demand of $900 000 from cases analysed in 2020.
Estimating the number of successful ransomware attacks (attacks that resulted either in data leaks or ransom payments) is challenging as reporting is opaque and inconsistent. Its estimated that between May 2021 and June 2022, there have been 3 640 successful ransomware attacks globally.
Roughly 73% of organisations have suffered at least one ransomware attack in the past 24 months and 60% of companies admitted that cybercriminals had been working inside their company for up to six months before the attack.
Other respondents in the Naoris Protocol poll (5,32%) said they would pay the ransom but not report it, and 7,32% said they would pay and report. Again, figures vary widely. According to a survey of 300 US-based IT decision-makers, 64% had been the victims of a ransomware attack in the last year, and 83% of victims paid the ransom.
There are several top class organisations doing analytics on cyberthreats and their reports have brought home the alarming extent and scale of cyberthreats. However its important to note that the make-up of sample audiences can vary widely, potentially putting bias on some results. For example, surveying a group of enterprise CEOs as opposed to an SME cohort would present material variances in the way they approach cybercrime.
Then there is the issue that no one wants to address: What happens to the data that gets stolen? Criminals will still have the files and could sell the information on the dark web with impunity.
Ultimately, if the company that has been subjected to an attack gets their data back and manages to dodge a reputational bullet by not reporting it, their clients and networks will still pay the price of the breach. Worse still, they wont even know their data is in the hands of criminals.
While ethically wrong, it is understandable why companies dont want to reveal they have been a victim of an attack. A report by IBM and Forbes found that 46% of organisations that experienced a cybersecurity breach suffered significant reputational damage.
A good example of this is Travelex, a foreign exchange company that collapsed into administration seven months after it suffered a ransomware attack. It disrupted the company for more than a month and they eventually paid the attackers $2,3-million.
Its becoming increasingly clear that companies and institutions will not be able to hide a ransomware breach in the future. Regulators and governments are suiting up against ransomware amid escalating attacks. Its a race against time, especially in the areas of critical infrastructure and government.
Currently, there is legislation on the table making it illegal for companies to pay ransoms. A 2020 ruling by the US Department of Treasurys Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) states most cases of paying a ransom are illegal.
The EU has followed suit EU member states can impose fines on paying ransoms under the Security of Network and Information Systems Directive (NIS Directive). Government proposals from leaders in Australia and appeals from Europol are also being tabled.
Ultimately the best cure is prevention and this starts with education of employees and individuals on the role they can play in thwarting the attacks of cybercriminals, says Carvalho. Emerging technology will also play a massive role in mitigating attacks. In an increasingly networked and decentralised world, every device with an Internet connection is a potential point of failure or point of entry for a cyberattack.
Traditional cybersecurity works on the premise that the access points are ring-fenced on their closed infrastructure network, Carvalho adds. However, in an increasingly decentralised and networked business environment the distribution of devices and cloud servers pose a risk as they become single points of failure regardless of current cybersecurity controls employees mobile phones, laptops, servers, for example.
IT architectures are centralised meaning there is a central point of control or authority, he says. This makes it easy for attackers to target and compromise the entire system or take over processes. This heavily impacts resilience to threats and business continuity even if threats are detected and risks are identified and known, its usually too late to stop a major breach.
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Ransomware: paying the price ... twice - IT-Online