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June - 2013 - issue > View Point

Is IT Security still a Priority in these Uncertain Times?

Kailash Katkar
MD & CEO-Quick Heal Technologies
Friday, May 31, 2013
Kailash Katkar
Quick Heal Technologies is a provider of internet security tools and antivirus technology in India. Founded in 1993 and headquartered in Pune, the company has received a total funding of $13 million from Sequoia Capital.

India is treading a fine line between the cross-sector economic slowdown and an unstable political scenario. Despite the tightened monetary policies to counteract the global factors that are contributing to the overall slowdown, domestic factors are equal contributors. More consumption paired with supply-side constraints has resulted in higher inflation.

Political instability is again a serious malaise that handicaps economic performance. Investors and business decision makers alike hate political instability. In a capitalistic friendly and policy driven economy like India, such a scenario directly translates to reduced chances of normal policy implementation and actual reforms.

Combine both the factors and the bearish tendency to stick to the “risk-off” attitude gets a boost. And from the point of view of chief-level executives like CIOs, it’s often putting the crucial issue of securing the confidentiality and integrity of data associated with business networks on the back burner. It’s a tough choice between cost and benefit. Given the complexity of factors involved (economic, organizational, business and technology) in such decision-making it’s no surprise that there is always some amount of trade-off.

It’s hard to ignore the increasing number and sophistication of cyber attacks on businesses small and big especially under volatile economic-politico situations. Research shows that these attacks are expected to get significantly worse over the coming years. This clearly reinstates the fact that security is no longer restricted to a functional IT area, it is of strategic importance. Here understanding the connotation of security is important. Security within attack sophistications, rise of BYOD, and IT consumerism are things that chief-level officers have to take into consideration while trying to gauge how secure their organizations are.

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