According to Statista, 52,000 new security vulnerabilities were discovered till August 2024. And the cost of data breach? A whopping $4.88 million on average! Vulnerability management is more crucial than ever for enterprises but still a lot of businesses ask:
– Why bother with vulnerability management?
– Would cyber threats actually impact my business?
– Who can I trust to handle this?
Assisting New Zealand businesses with cybersecurity for almost a decade now, API Connects understands the challenges posed by malware, system attacks, and breaches. In this blog, we will break down why vulnerability management is a non-negotiable investment for the long-term health and success of your enterprise in 2025.
Let’s start!
What is Threat and Vulnerability Management Critical?
Just like your home is protected by the security system, vulnerability management systems act as your first line of defence against cyberattacks targeted at critical virtual processes of your business. Here are some reasons why it is important to consider threat and vulnerability management:
Proactive defense: Instead of being on the backfoot, this approach lets enterprises proactively identify weakness and problems within their security stance so that timely patches can be made, eradicating the cyberattack possibilities.
Less risk of data breaching: The aforementioned statistics pointed out that data breaches pose dire implications. Enterprises have faced data losses, reputational degradation, and possible legal action. These risks however can be checked with a threat and vulnerability management system.
Having it means you can minimise the data breach risks as it identifies and mitigates vulnerabilities that attackers can use to steal sensitive information.
Better compliance: Many industries and regions have strict regulations regarding data security and privacy. GDPR and HIPAA, for instance. A robust vulnerability handling program will show compliance with these regulations. In simple language, you can avoid heavy fines and penalties in court!
Improved business continuity: Cyberattacks can disrupt business operations leading to downtime, loss of productivity, and financial losses. Identifying and addressing vulnerabilities that could impact your business’ critical systems and infrastructure will guarantee business continuity. There will be less impact of potential disruptions.
Increased customer trust and confidence: According to ExplodingTopics, 85% of global adults want to do more when it comes to protecting their online privacy and data security. Demonstrating commitment to strong threat and vulnerability management practices will build trust and confidence among customers to do business with you.
Cost savings: Preventing costly data breaches, minimising downtime, and avoiding legal penalties will save overall business costs. Hence, implementing and maintaining a vulnerability management program delivers long-term benefits that far outweigh the initial investment.
Check out these recent blogs for added insights:
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Biggest Enterprise Threats and Vulnerability Challenges
Now that we are aware why threat and vulnerability management is important, let’s address another important question i.e. what specific types of security challenges will your enterprise face? Here are some cyber threats faced by big businesses in New Zealand and also rest of the world:
Malware: Malware is a jacket term that includes a broad category of security challenges such as viruses, worms, ransomware, and trojans. Malware can infect systems, steal data, and even disrupt business operations and in hope of ransom payments.
Phishing and social engineering: These attacks involve manipulating human psychology. How, you ask? Attackers manipulate employees into clicking malicious links, downloading infected files, or revealing sensitive information. Businesses can find such tactics in phishing emails, fraudulent websites, and social media scams.
DoS and DDoS attacks: Also called Denial-of-Service and Distributed Denial-of-Service, these threat and vulnerability management attacks aim to overwhelm a target system or network with traffic, making it unavailable to legitimate users. DDoS attacks involve multiple compromised systems coordinated to launch a massive attack.
Ransomware: It is a malware type that encrypts a victim’s files or systems and then demands payment for the ransom before they can be released. Yes, like a kidnapper in the physical world but worse for business owners. Ransomware attacks can severely paralyze enterprises, resulting in huge financial losses and interruptions.
Insider threats: These are threats from within an organisation. Mischievous employees, disgruntled former employees, or even accidental data breaches are pretty common. Insider threats are unpredictable most of the time and can pose great risks to sensitive data and business systems. These types of threats are also the reason why more and more enterprises are investing in vulnerability management systems in 2025.
Zero-day exploits: These are security vulnerabilities in business software or hardware that attackers exploit before a developer can figure out or fix them. These are commonly found in software provided by vendors who are slow with patching and upgrades.
Supply chain attacks: Another popular threat type for which most enterprises set a solid vulnerability management system. Supply chain attacks include targeting the software supply chain which compromises third-party tools used by an organization. Using these, attackers can then access crucial files of the target company and exploit other vulnerabilities.
Cloud security threats: Cloud security threats are becoming very common due to the increase in the number of businesses that have moved to the cloud. The threats include data breaches, misconfigurations, and unauthorized access to cloud resources.
How API Connects Can Help Enterprise With Vulnerability Management?
API Connects has been in the New Zealand IT and cybersecurity industry for almost a decade now. Our team of data and systems security engineers is committed to helping enterprises improve their security posture through diverse offerings. Aware of the unique security challenges and threats faced by enterprises, we provide solutions tailored to each client’s unique business requirements. Here’s a work example for clarity:
One of our client’s systems was facing critical and high-risk vulnerabilities. After a consultation session to understand the major security challenges, API Connects implemented Synk to check critical as well as low-severity risks. All layers of their business systems were scanned to identify loopholes and make upgrades.
Our proactive approach brought to light unknown security issues. Our engineers then guided the client through remediation strategies such as:
– Code upgrades
– Library updates
– Protocol upgrades from HTTP to HTTPS
By establishing a rock-solid vulnerability management system, we not only improved security but also improved their compliance with industry best practices.
Setup a Vulnerability Management System: Final Words
And that’s all!
We covered everything you wanted to know about threat and vulnerability management systems. New threats are emerging, and it’s important to stay ahead of virtual security challenges. So, don’t wait for a crisis to strike. Invest in a robust management program today.
Got any queries to ask about securing cloud, APIs, systems, and processes? Send them to enquiry@apiconnects.co.nz, and our cyber security experts will answer them for you.
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