The software development field is growing rapidly. Many important industries such as Education, PropTech, FinTech, Energy, and even Defense rely on software development services. These services are crucial to execute their plans better and streamline their operations.
Some facts are curious to know: the software development market is expected to grow at a CAGR of 22.54% and will reach the $1 billion threshold by 2027. So it proved that this is of rising importance in the industry. However, with rising needs and growing importance come those who want to ride the wave for all the wrong reasons.
Global Scale of Cyber Threat
Unfortunately, the software industry has been infested with such people from the very beginning. These people are most commonly known as hackers. A hacker is a person who accesses sensitive information or data by breaking into complex systems. There are many reasons for hacking, such as copying, destroying, or disrupting data or even installing malware to disrupt the entire system. Ethical hacking is also a widespread practice for government agencies to maintain law and order and spy on enemies. Since we live in a software-driven technological world, hacking is also a must-have weapon for our Governments to keep us safe.
Now, you may think that even if the Govt’s data isn’t safe with all the resources at its disposal, how can you ensure your data’s security and privacy? Well, the answer is simple, “Cybersecurity!”
There is something knowledgeable in this blog about what cybersecurity is, how it works, and what are its benefits. In fact, you’ll know why Cyber Security in Software Development is important. Curious? Read on, and you’ll find all the answers to your cybersecurity questions.
What is Cyber Security?
Cybersecurity, in simple words, is the use of technology to prevent cyber attacks. It defends computers, servers, mobile devices, electronic systems, and data from cyber threats. Cybersecurity is also known as information technology security. This term applies to a variety of contexts. Cybersecurity can be categorized into the following categories.
1- Network Security: It ensures that a computer network is safe from intruders, targeted cyber attacks, and malware.
2- Application Security: This cybersecurity category focuses on keeping devices and software free of threats. It is crucial as most mobile applications ask for user data, and keeping it secure is paramount.
3- Information Security: In this category, data is protected while in transit and storage. It is crucial to remember that data can be cloned, disrupted, or destroyed not only from storage but also when it is in the transit phase.
4- Operational Security: Decisions for handling and protecting data assets are made in this cybersecurity process. Procedures determining how and where data may be stored and users’ permissions all fall under this category.
5- Disaster Recovery: These are the standard procedures that dictate how an organization should respond to cyber-attacks that may lead to loss of operations or data. The policies in place for disaster recovery give a clear path to how the organization will recover data and restore operations. This helps them get back to the same operational capacity as before the attack. Business continuity is another aspect of disaster recovery. It is a plan businesses can fall back on to operate without specific resources.
6- End-user Education: It is a crucial aspect of cybersecurity that covers the most unpredictable cybersecurity factor in software development: the end-users. The users must be informed about the potential cybersecurity threats that they possess. Anyone can accidentally introduce a virus to the system. This usually happens when a person fails to follow the proper security protocols. Teaching users to be aware of suspicious emails and not to plug in unidentified USB drives is vital for any organization’s security.
Unfortunately, the global cyber threat is growing continuously, and you need to know that RiskBased Security stated that almost 7.9 billion records were exposed to data breaches in the first 9 months of 2019. This is impressive because it amounts to an astonishing 112% increase from the previous year. Among the affected, public entities, medical services, and retailers experienced the most data breaches.
This could be the case with any small and big company, even global tech giants like Microsoft, which have become victims of cyber attacks. You want details, so in 2021, a group of Chinese hackers breached Microsoft’s Exchange email servers. These cyber-attacks are increasing, and this has impacted more than 30,000 US and 60,000 companies globally.
After all these mishaps, global spending on cybersecurity solutions is rising day by day. Gartner stated that “it will reach $215B this year (2024)”. Some government institutes are even investing heavily in cybersecurity to stay away from cyber attackers. Still, The US National Institute of Standards and Technology came up with a cybersecurity framework specially designed to combat the proliferation of malicious code and early detection of security breaches.
So, we guess it is enough to convince you of the power of cybersecurity. Let us share some common cyber threat types.
- Cybercrime: It is run by single actors or groups whose sole purpose is financial gain or disruption.
- Cyber-attacks: This is for sensitive information collection and is generally used in political factors.
- Cyberterrorism: These are used as 5th Gen warfare. They target the electronic systems of a foreign land/country to cause panic or fear and disrupt their systems.
These threats can be countered using cybersecurity frameworks and software technologies.
How Does Cybersecurity Work?
Cybersecurity works by implementing technologies, software systems, and frameworks designed to detect, examine, and fix potential system weaknesses before hackers exploit them. The following steps are crucial for cybersecurity systems to work effectively.
- The first thing is the Risk Assessment you need for cybersecurity measures because it points out the potential risks and vulnerabilities within the system. This involves assessing the likelihood of a cyber attack, the value of digital assets, and other possible threats.
- Preventive Measures are the second step for effective cybersecurity systems. These are crucial to stop threats before they cause harm. The use of firewalls and antivirus as barriers against threats are all preventive measures.
- Having a well-defined Incident Response plan is the third step. It is absolutely crucial in case of a security event. An incident response plan must contain proper SOPs for the teams to coordinate effectively to contain the incident.
- Cybersecurity is not purely a technological challenge; it has a human element to it as well. That is why adequate Education and Training material must be available to users. This helps inform them about the potential risks they may unknowingly cause. Furthermore, regular training programs can help individuals and employees recognize phishing attempts and potential threats. This also prepares them to adopt best practices for data security.
- The last element or step for an effective cybersecurity framework or system is Regular Updates. The software industry, as discussed before, is set to rise at a rapid pace, and so is the global cyber threat. That’s the major reason to stay updated on all your software systems, applications, and operating systems in the first go.
Now that we have discussed cybersecurity in detail, let’s look at some of its benefits.
Cybersecurity is vital for protecting data and ensuring smooth software development
Benefits of Cyber Security
From protecting personal data to minimizing financial loss and improving data management, cybersecurity offers many benefits. Here are a few of them;
Protects Personal Data
Personal data, be it of individuals or users, is the most valuable commodity for a business. However, collecting data from digital apps has become a norm. A simple virus can extract personal information and jeopardize a customer’s privacy.
Minimizes Financial Loss
Cyber threats, especially cybercrime, can lead to direct financial loss. This is because financial gain is the primary motive behind these attacks. Cybersecurity helps minimize financial loss for individuals and businesses by implementing effective data security measures.
Improved Data Management
Data is the base for effective product development and marketing strategies. Organizations must consistently monitor data to ensure security regulations. Besides data security, cybersecurity also improves operational efficiency.
Enhances Business Reputation
Business reputation is the very first thing that gets hit whenever there is a data breach. Customer trust is arduous to gain and extremely easy to lose; a data breach can exponentially weaken this trust. That is why cybersecurity is crucial when it comes to business reputation. An effective cybersecurity system ensures you uphold your customers’ trust and maintain your business reputation.
Conclusion
The software development industry is on the rise, and so is the global scale of cyber attacks. Investing in cybersecurity systems has become paramount for seamless software development. Cybersecurity can be divided into multiple categories, from network security to information security and data recovery. Having an effective cybersecurity system in place not only assists in software development projects but also enhances the overall business reputation. Risk assessment, preventive measures, incident response, regular system updates, and education and training must all be in place for a cybersecurity system to work effectively.
