Covid-19 – Digital IT News https://digitalitnews.com IT news, trends and viewpoints for a digital world Mon, 27 Sep 2021 19:55:06 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.15 Tips to Avoid Remote Work Disconnect https://digitalitnews.com/tips-to-avoid-remote-work-disconnect/ Wed, 25 Aug 2021 12:04:19 +0000 https://digitalitnews.com/?p=4718 In our new remote work era, it’s more important than ever to employ best practices and strategies to keep employees engaged and productive. The movement from the prestigious and extravagant corporate office environment to the relaxed and comfortable “wear your pajamas as regular work attire”, has been the norm for so many employees thanks to [...]

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In our new remote work era, it’s more important than ever to employ best practices and strategies to keep employees engaged and productive. The movement from the prestigious and extravagant corporate office environment to the relaxed and comfortable “wear your pajamas as regular work attire”, has been the norm for so many employees thanks to COVID-19. Managing employees in-person requires a completely different set of skills than remote management.

There are numerous “Work from Home” (WFH) employee challenges and solutions that are talked about again and again to give comfort and encouragement to the employee. We’ve all had the Zoom call with a surprise screaming child screeching in the background. Or the obnoxious continuous barking of a beloved dog at the approaching package delivery to the doorstep. These embarrassing interruptions to our ‘LIVE’ deep collaborative brainstorming session have become all too familiar.

Organized time-management is important when working from home to cultivate a balanced work-life balance. Creating an agenda for work and sticking to it will develop necessary boundaries that are particularly difficult when your laptop is planted so conveniently next to you while enjoying a movie with your family.

Many employees, even the most introverted, have also experienced loneliness and feelings of isolation.  In the age we live in, technology gives us the means to utilize tools for collaboration and communication with others.

Inefficient communication, absence of metrics, and lack of leadership development are all barriers to remote work options.

How to Avoid the Remote Work Disconnect and Retain Your Workplace

  1. Create Social Communication Online
  • Connect with Technology – Continue to keep connected with employees through technology and use video conferences, when possible, to foster feelings of being a part of the team.
  • Plan for Meeting Time – Internal communications about projects, goals, and team accomplishments are necessary to help keep employees up to date. Scheduling time for both one-on-ones and team meetings to share will empower workers and support feelings of being connected and engaged.
  • Acknowledge Great Work – Communication will create a strong growing relationship so asking for and listening to feedback can continue to grow trust. A positive company culture boosts feelings of sharing thoughts and ideas. Acknowledge what you heard from them, as this is fundamental to keep remote employees engaged.
  • Show Recognition – Pulling in a nice paycheck is always great, but employee recognition can be an even more effective, but simple, way to show appreciation. An online recognition platform can be advantageous for employees to see, comment, and encourage one another. Employee recognition from leadership as well as peers promotes value, connectedness, appreciation.
  • Develop Deeper Connections – Promote social communication through team connections, games and activities to continue to grow your relationship. By asking about family and what they like to do outside of work, or how their mental and emotional stresses are during these unprecedented times will help feelings of loneliness and isolation.
  1. Metrics
  • WFH Employee Productivity Measuring Tools – Measuring productivity can be as simple as output per unit of time. Therefore, policies and processes created for each individual job that are clear and concise as to how your company will measure your productivity is crucial. Employees will know what will be expected of them and will establish trust.
  • Generate Phases for Tasks Assigned – When tasks are laid out clearly employees and employers can visibly report daily, weekly, and yearly. Additionally, planning for future projects will be straightforward with this clear-cut reporting of tasks assigned in phases.
  • Use of Project Management Software – Everyone can be on the same wavelength if all employees are trained to invariably report detailed explanations of tasks that are still in progress and others finalized on a cloud-based software tool. With clear expectations already in place, it will help employees prioritize work and again build trust.
  • Put Into Action a Strong Reporting System – Prompt reporting keeps everyone informed on work status, pinpoint possible obstacles, and when take prompt action. Depending on the leadership team and what each leader prefers, will establish which reports that will be generated at end of day, weekly, and monthly.
  1. Leadership Development
  • Adjust Your Perspective of Work – In the past, companies and leadership have based performance measurement on what they can ‘see’.  Remote work removes this direct visibility to the actions and performance of employees. This flawed expectation must be adjusted to bridge the gap between company practices and the working conditions that employees want.
  • Train Managers – Many companies do not realize that their new working arrangement is unproductive because they have simply sent staff home, rather than giving employees and managers the proper training or resources to successfully work remotely.
  • Fill the Toolbox – To ensure your employees are confident and empowered to perform at the top of the game, make sure your team is ready to succeed and has a full toolbelt on with all the necessary training to be productive and engaged.

Help your team succeed with the toolbelt and training required to engage and retain a satisfied remote workforce. It will keep your teams connected and productive.

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Survey Finds 76% of Enterprises Have Already Adopted a Multi-Cloud Strategy According to HashiCorp’s Inaugural State of Cloud Strategy https://digitalitnews.com/survey-finds-76-of-enterprises-have-already-adopted-a-multi-cloud-strategy-according-to-hashicorps-inaugural-state-of-cloud-strategy/ Mon, 16 Aug 2021 16:54:47 +0000 https://digitalitnews.com/?p=4645 HashiCorp®, a leader in multi-cloud infrastructure automation software, released its first State of Cloud Strategy report, which surveyed over 3,000 IT professionals about the state of cloud adoption, challenges and inhibitors, COVID-19’s effect on cloud adoption, and more. “The era of multi-cloud is here, driven by digital transformation, cost concerns and organizations wanting to avoid [...]

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HashiCorp®, a leader in multi-cloud infrastructure automation software, released its first State of Cloud Strategy report, which surveyed over 3,000 IT professionals about the state of cloud adoption, challenges and inhibitors, COVID-19’s effect on cloud adoption, and more.

“The era of multi-cloud is here, driven by digital transformation, cost concerns and organizations wanting to avoid vendor lock-in. Incredibly, more than half of the respondents of our survey have already experienced business value from a multi-cloud strategy,” said Armon Dadgar, co-founder and CTO, HashiCorp. “However, not all organizations have been able to operationalize multi-cloud, as a result of skills shortages, inconsistent workflows across cloud environments, and teams working in silos.”

State of Cloud Adoption: Most Organizations Have Already Adopted Multi-Cloud
The survey showed that multi-cloud is overwhelmingly the standard operations model for IT organizations of all sizes, in all regions, and every industry, with 76% of survey respondents stating their organization has already adopted a multi-cloud strategy. Survey responses also indicate that this number is expected to increase to 86% in two years. Fifty-three percent of respondents believe that a multi-cloud strategy has helped to achieve the organization’s business goals, with large enterprises currently recognizing the most value from multi-cloud.

Digital transformation (34%) was cited by respondents as the number one most significant driver for multi-cloud adoption, followed by avoiding single vendor lock-in (30%) and cost reductions (28%). Digital transformation ranked highest among large enterprises, Latin America, Asia-Pacific, and within the financial services vertical.

Of the big three public clouds, AWS was the leading cloud provider used by respondents (88%). However, respondents expect their use of AWS to remain the same during the next two years. Microsoft Azure ranked second in terms of use or intended use (74%), while Google Cloud was third (64%).

Cloud Spending — and Overspending
Cloud budgets vary by organization size, vertical, and geographic region. Forty percent of respondents’ organizations have an annual cloud spend of $100,000 to $2 million, while 27% of organizations spend less than $100,000 annually. Eighteen percent of organizations spend between $2 million and $10 million, and 15% spend more than $10 million annually.

Thirty-nine percent of respondents said their organization overspent their planned budgets on cloud, most often because of shifting priorities (29%) or because of unexpected needs related to COVID-19 (21%). Organizations with larger cloud budgets were more likely to have a Cloud Center of Excellence (CCoE), with 66% of organizations with an annual cloud budget of $5 million to $50 million having one, compared to 40% of organizations overall surveyed.

Cloud Program Challenges and Inhibitors: Concerns about Costs and Skills
While the survey shows that the cloud — and multi-cloud in particular — is critical to meeting business goals, it also revealed several areas of concern for organizations.

Cloud inhibitors and challenges varied across regions, industry, and company size, as well as by component of the technology stack. Respondents stated the top inhibitors to multi-cloud programs are cost concerns (51%), security concerns (47%), and lack of in-house skills (41%). Similarly, organizations are struggling to operationalize multi-cloud. Top reasons include skills shortages (57%), budget constraints that affect headcount (27%), inconsistent workflows across cloud environments (33%), organizations and teams working in silos, and poor collaboration or processes that are too complex (29%).

Security: A Driver and Inhibitor for Cloud Adoption
Survey results showed that cloud security was both a driver and an inhibitor for multi-cloud adoption. Respondents agreed that the top cloud security concerns were data and privacy protection (40%), data theft (33%), and regulatory compliance (31%).

Staffing and skill shortages (26%) topped the list when respondents were asked about the most significant cloud security challenges. That was followed by insufficient tooling and no real-time visibility and insight (12% each).

Cloud Is Not Just a Response to the COVID-19 Pandemic
There were some surprising results related to the effects of COVID-19 on organizations’ cloud adoption. Forty-six percent of respondents stated that the COVID-19 pandemic had not accelerated cloud adoption, while 54% of respondents stated that COVID-19 had some effect on their cloud adoption timelines. Nineteen percent said it had a low impact, accelerating efforts by six to 12 months, and 26% said it had a moderate impact, accelerating efforts by one to two years. Nine percent of organizations said the pandemic had accelerated their efforts by more than two years.

The top infrastructure initiatives that were accelerated as a result of COVID-19 were infrastructure as code (49%), container orchestration (41%), compliance and governance, and network infrastructure automation (33% each). However, it was notable that COVID-19 increased the use of open source software for 39% of respondents.

Methodology
The 2021 HashiCorp State of Cloud Strategy Survey was conducted in February 2021. HashiCorp reached out to approximately 300,000 people for whom we had opt-in email addresses. To encourage responses, we offered an incentive drawing. We received 3,205 responses from around the world, though not all respondents answered all 34 questions. Responses by location were North America (39%); Europe, Middle East, and Africa (34%); Asia-Pacific (20%); Latin America (6%), no response (1%).

Resources
State of the Cloud Strategy Survey: https://hashi.co/3yCjG27
Blog: https://hashi.co/37AuD8C

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AI Adoption Accelerated During The Pandemic But Many Say It’s Moving Too Fast: KPMG Survey https://digitalitnews.com/ai-adoption-accelerated-during-the-pandemic-but-many-say-its-moving-too-fast-kpmg-survey/ Tue, 09 Mar 2021 19:29:30 +0000 https://digitalitnews.com/?p=3743 The COVID-19 pandemic has accelerated the pace of artificial intelligence (AI) adoption, but many say it’s moving too fast, according to a new KPMG survey. Despite concerns about the speed of adoption, business leaders are confident AI can help solve some of today’s toughest challenges, including COVID-19 tracking and vaccines. In the new study, Thriving in [...]

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The COVID-19 pandemic has accelerated the pace of artificial intelligence (AI) adoption, but many say it’s moving too fast, according to a new KPMG survey. Despite concerns about the speed of adoption, business leaders are confident AI can help solve some of today’s toughest challenges, including COVID-19 tracking and vaccines.

In the new study, Thriving in an AI World, high numbers of business leaders from the following industries say AI is at least moderately functional in their organizations, including those in:  industrial manufacturing (93 percent), financial services (84 percent), tech (83 percent), retail (81 percent); life sciences (77 percent), healthcare (67 percent) and government (61 percent).  In addition, several industries saw a significant increase from last year’s report: financial services (37-percentage point increase), retail sector (29-percentage point increase) and tech sector (20-percentage point increase).

According to Traci Gusher, Principal of Artificial Intelligence, “Leaders are experiencing COVID-19 whiplash, with AI adoption skyrocketing as a result of the pandemic. But many say it’s moving too fast. That’s probably because of current debate surrounding the ethics, governance and regulation of AI.  Many business leaders do not have a view into what their organizations are doing to control and govern AI and may fear risks are developing.”

Specifically, half of business leaders in industrial manufacturing (55 percent), retail and tech (49 percent in each) say AI is moving faster than it should in their industry. Concerns about the speed of AI adoption are particularly pronounced among small companies (63 percent), business leaders with high AI knowledge (51 percent), and Gen Z and Millennial business leaders (51 percent).

Leaders confident in AI solving industry problems, including COVID-19
Business leaders from both small (88 percent) and large (80 percent) companies say AI technology helped their company during the COVID-19 outbreak. As we continue to navigate the pandemic, life sciences and healthcare business leaders are overwhelmingly confident in AI’s ability to monitor the spread of COVID-19 cases (94 percent and 91 percent), help with vaccine development (90 percent and 94 percent) and distribution (90 percent and 88 percent), respectively.

Beyond the pandemic, business leaders are confident in AI’s ability to solve major industry problems. Specifically, these include:

  • Financial services business leaders surveyed are confident in AI’s ability to detect fraud (93 percent), higher than last year’s report (85 percent).
  • And government decision-makers surveyed are confident in AI’s ability to improve bureaucratic efficiency (79 percent).

Business leaders optimistic about new administration, want more regulation
Business leaders across industries believe the Biden administration will do more to help advance the adoption of AI in the enterprise: industrial manufacturing (90 percent), tech (88 percent), retail (85 percent), financial services (82 percent), life sciences (81 percent), government (79 percent) and healthcare (73 percent).

Additionally, younger (Gen Z and Millennial) business leaders are more likely (90 percent) than older (Gen X and Baby Boomer) business leaders (79 percent) to be more optimistic about the potential actions the Biden administration will do to help advance the adoption of AI in enterprise.

Even with the optimism, business leaders are conscious that controls are needed and overwhelmingly believe the government has a role to play in regulating AI technology: industrial manufacturing (94 percent), retail (87 percent), financial services (86 percent), life sciences (86 percent), tech (86 percent), healthcare (84 percent) and government (82 percent). Business leaders with high AI knowledge (92 percent) are more likely to say the government should be involved in regulating AI technology in comparison to total business leaders (87 percent).

Compared to last year’s report, business leaders are more interested in government involvement, with financial services increasing by 27-percentage points, retail increasing by 24-percentage points, and tech increasing by 17-percentage points.

“We are seeing very high levels of support this year across all industries for more AI regulation.  One reason for this may be that, as the technology advances very quickly, insiders want to avoid AI becoming the ‘Wild Wild West.’ Additionally, a more robust regulatory environment may help facilitate commerce. It can help remove unintended barriers that may be the result of other laws or regulations, or due to lack of maturity of legal and technical standards,” said Rob Dwyer, Principal, Advisory, specializing in technology in Government.

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Global Study: C-Suite Execs Experienced More Mental Health Challenges Than Their Employees in Wake of Global Pandemic https://digitalitnews.com/global-study-c-suite-execs-experienced-more-mental-health-challenges-than-their-employees-in-wake-of-global-pandemic/ Tue, 09 Feb 2021 21:02:55 +0000 https://digitalitnews.com/?p=3579 Mental health challenges created by the COVID-19 pandemic have impacted workers differently depending on their seniority, generation, and location according to a new report by Oracle and Workplace Intelligence, a HR research and advisory firm. The study of more than 12,000 employees, managers, HR leaders and C-Suite executive across 11 countries, found that C-Suite executives [...]

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Mental health challenges created by the COVID-19 pandemic have impacted workers differently depending on their seniority, generation, and location according to a new report by Oracle and Workplace Intelligence, a HR research and advisory firm. The study of more than 12,000 employees, managers, HR leaders and C-Suite executive across 11 countries, found that C-Suite executives struggled to adapt more than their employees, younger generations experienced the most burnout, and that India, UAE, China and the U.S. had the most workers reporting the pandemic has negatively impacted their mental health.

C-Suite Executives See the Biggest Challenges in Remote Work

C-level executives have struggled the most with adapting to remote work realities and report they are suffering from mental health issues more than their employees, but they are also the most open to finding help in AI.

  • C-Suite execs (53 percent) have struggled with mental health issues in the workplace more than their employees (45 percent).
  • C-Suite execs also had the hardest time adapting to virtual lifestyles with 85 percent reporting significant remote work challenges including collaborating with teams virtually (39 percent), managing increased stress and anxiety (35 percent), and lacking workplace culture (34 percent).
  • C-Suite execs were also 29 percent more likely to experience difficulties learning new technologies for remote work than employees; once they adjusted to the new normal, C-Suite execs were 26 percent more likely to find increased productivity than employees
  • C-Suite execs are the most open to using AI for help with mental health: 73 percent would prefer to talk to a robot (i.e. chatbots and digital assistants) about their mental health over a human compared to 61 percent of employees.
  • C-Suite execs are 23 percent more likely to see AI benefits than employees; 80 percent of C-Suite leaders noted AI has already helped their mental health at work.

Gen Z and Millennials are Hustlin’ Harder, Suffering More, and Seeking AI Relief

Younger workers are feeling the most burnout due to the mental health effects of the pandemic and are more open to asking AI for relief.

  • Gen Z is more likely to be negatively impacted by the pandemic than any other generation. Nearly 90 percent of Gen Z workers said COVID-19 has negatively impacted their mental health and 94 percent noted workplace stress impacts their home life as well.
  • Gen Z workers are 2X more likely than Baby Boomers to work extra hours during the pandemic, and Millennials are 130 percent more likely to have experienced burnout than Baby Boomers.
  • Younger generations are the most likely to turn to robots for support: Gen Z workers are 105 percent more likely to talk to a robot over their manager about stress and anxiety at work than Baby Boomers. 84 percent of Gen Z and 77 percent of Millennials prefer robots over humans to help with their mental health.
  • Gen Z workers are 73 percent more likely than Baby Boomers to benefit from AI at work: 90 percent of Gen Z say AI has helped their mental health at work and 93 percent want their companies to provide technology to support their mental health.

Employees in Different Countries are Experiencing Very Different Realities

Just like COVID-19, the mental health crisis has impacted people differently across the world. People in India and China are being hit the hardest and are the most open to AI support, while workers in Italy, Germany, and Japan are seeing less of an impact.

  • India (89 percent), UAE (86 percent), China (83 percent) and the U.S. (81 percent) had the most workers reporting the pandemic has negatively impacted their mental health. Workers in China (43 percent) and India (32 percent) are also the most burned out from overwork as a result of COVID-19.
  • Italy reported the lowest number of people experiencing a negative impact on their mental health from the pandemic (65 percent). Workers in Germany were the least likely to report that 2020 was the most stressful year at work ever (52 percent).
  • 29 percent of people in Japan say they have not experienced many difficulties at all working remotely or collaborating with teams virtually. In contrast, 96 percent of people in India admit it has been challenging to keep up with the pace of technology at work.
  • People in China (97 percent) and India (92 percent) are the most open to having a robot as a therapist or counselor. People in France (68 percent) and the UK (69 percent) were the most hesitant.
  • People in India and China are 33 percent more likely to talk to a robot than their peers in other countries: 91 percent of Indian workers and 91 percent of Chinese workers would prefer a robot over their manager to talk about stress and anxiety at work.

Despite Demographics, People Need Help from Their Employers. It’s Time to Step Up

Despite seniority, generation and geographic differences, people all over the world agree: The pandemic has negatively impacted the mental health of the global workforce—and they want help.

  • 78 percent of workers say the pandemic has negatively affected their mental health.
  • 76 percent of people believe their company should be doing more to protect their mental health.
  • 83 percent would like their company to provide technology to support their mental health.

Supporting quotes

“Diving deep into the differences between demographic and regional groups highlights the significant impact of the pandemic on the mental health for employees in various age groups, roles and regions,” said Dan Schawbel, Managing Partner, Workplace Intelligence. “Amidst the challenges of the pandemic, companies can use this moment as a catalyst for positive change in their organizations. While the pandemic raised the urgency for companies to start protecting the mental health of their employees, the efforts they put in now will continue to create happier, healthier and more engaged workforces in the decades to come.”

“The pandemic put employee mental health in the global spotlight, but these findings also showed that it created growing support for solutions from employers including technologies like AI,” said Emily He, senior vice president, Oracle Cloud HCM. “The way the pandemic changed our work routines makes burnout, stress and other mental health issues all too easy. Everyone has been affected in different ways and the solutions each company puts in place need to reflect the unique challenges of employees. But overall, these findings demonstrate that implementing technology to improve the mental health of employees needs to be a priority for every business.”

Learn more about this global study and download the new report here. 

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Independent Study Links Rise in Remote Workforce with Considerable Security Risk in Post-COVID Era https://digitalitnews.com/independent-study-links-rise-in-remote-workforce-with-considerable-security-risk-in-post-covid-era/ Tue, 19 Jan 2021 14:42:33 +0000 https://digitalitnews.com/?p=3404 BeyondTrust, the worldwide leader in Privileged Access Management (PAM), released the results of a commissioned study conducted by Forrester Consulting on behalf of BeyondTrust titled, “Evolving Privileged Identity Management (PIM) In the Next Normal,” November 2020. The study was commissioned to evaluate PIM challenges in the “new normal” created by the COVID-19 pandemic. The online [...]

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BeyondTrust, the worldwide leader in Privileged Access Management (PAM), released the results of a commissioned study conducted by Forrester Consulting on behalf of BeyondTrust titled, “Evolving Privileged Identity Management (PIM) In the Next Normal,” November 2020. The study was commissioned to evaluate PIM challenges in the “new normal” created by the COVID-19 pandemic. The online survey was conducted with 320 IT and security decision makers in North America, Europe, and Asia.

The COVID-19 pandemic imposed an immediate and massive shift to a remote workforce. This created new vulnerabilities by expanding organizations’ attack surfaces. The pandemic has created a situation where virtually all remote employees need privileged access to perform their jobs and has hastened the “identity as the new perimeter” paradigm.

This survey uncovers the requirements for creating a secure remote workforce that protects the business with PIM in the post-COVID era. Key findings include:

The impact of COVID-19 on the acceleration of the remote workforce

  • 91% forecasted increase in size of remote workforce, versus 45% before the pandemic
  • 53% of US workers reported wanting to work from home more, even after the pandemic is over

The inadequacy of perimeter-based network security and legacy remote access technologies, like VPN, in securing remote workers

  • 83% believe the increase in remote workers increases the risk of a security incident
  • 47% rank “Preparing for an Increasingly Remote Workforce” as a Top 5 security priority for 2021

A comprehensive PIM solution mitigates threats by protecting privileges across accounts, endpoints, and access pathways

  • 91% of respondents agree that PIM plays a crucial role in securing remote workers
  • 86% of respondents say their organizations will invest more in PIM over the next two years to address the risks related to remote working
  • 56% report that improved IT administration efficiencies are the top benefit of PIM

“The findings of this global survey confirm the fact that the pandemic has accelerated the borderless enterprise and brings identity to the forefront of the new perimeter,” states Morey Haber, CTO and CISO at BeyondTrust. “To protect their assets, enterprises must secure their data throughout their IT estate. This requires comprehensive PIM solutions that enable uncompromised access to applications and data from anywhere, by any user or device.”

The definition of who requires privileged access can no longer be reserved for IT administrators; it must include use cases related to remote working. Having robust access controls allows employees to conduct their jobs wherever they are, without incurring risk. PIM strategies must go beyond traditional password management and include a holistic approach, including endpoint privilege management and secure remote access.

Key Recommendations

Privileged users are critical to the operations of digital business, yet they also present a substantial security risk. Organizations need effective PIM controls to limit the attack surface while enabling regular business operations. The survey results point to the following best practices:

  • Plan for dramatically more remote privileged users

The rapid increase in the need for privileged access by remote workers will open many security holes and compliance violations. To avoid this, set up tools and processes to discover and categorize privileged users and activities to determine appropriate access rights. Apply security controls that best fit the needs of various privileged user types and situations.

  • Establish a strong governance model for PIM

Traditional PIM tools don’t effectively meet the rules and governance of privileged users. Evolve and expand your solutions to secure changing environments and attack surfaces.

  • Implement strategies to reduce the attack surface and prevent lateral movement

Adhere to the principle of least privilege (POLP) by granting privileged users just enough access to resources, and just enough permissions to perform actions required for their jobs.

  • Apply just-in-time (JIT) access approaches for dynamic business use cases

Privileged access must be agile within business areas that have a high rate of change and where personnel or machine identities must access resources. Limiting access to time-bound requests with context-aware workflows for approval removes standing access while enabling the business to move forward.

  • Balance UX with security controls for remote privileged users

Make the authentication and access request process as frictionless as possible. Employ unobtrusive security controls, like session monitoring and threat detection, that run in the background and alert you to high-risk activities.

  • Provide centralized, consistent administration with an integrated PIM suite

Malicious actors target privileges to gain access to and move laterally throughout an organization. Comprehensive PIM tools and approaches will help protect your enterprise. A holistic PIM solution will provide full visibility of threats across the privileged landscape. An integrated platform will provide consistent administration, reporting, and response capabilities.

The full survey report is available for download at beyondtrust.com/next-normal. In addition, on January 2y at 11:00 EST, join independent research firm senior analyst Sean Ryan for a webinar titled, An Analyst’s Take: Securing Privileged Identities & Remote Access in 2021.

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CFOs Need Greater Real Time Data to Pivot from Measuring to Creating Value Amid COVID-19 https://digitalitnews.com/cfos-need-greater-real-time-data-to-pivot-from-measuring-to-creating-value-amid-covid-19/ Fri, 01 Jan 2021 21:30:23 +0000 https://digitalitnews.com/?p=3309 As chief financial officers (CFO) continue to grapple with ongoing business disruptions from COVID-19, a new report from Accenture found finance leaders need more real-time data to pivot from measuring to creating value. The new report from Accenture surveyed 450 CFOs and other finance leaders at companies with at least $1B in annual revenue. A [...]

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As chief financial officers (CFO) continue to grapple with ongoing business disruptions from COVID-19, a new report from Accenture found finance leaders need more real-time data to pivot from measuring to creating value.
The new report from Accenture surveyed 450 CFOs and other finance leaders at companies with at least $1B in annual revenue. A key finding: While nearly all (99%) respondents believe operating with real-time data is critical to navigating disruptions, such as COVID-19 or the threat of a recession, just 16% of respondents are being informed by such data at the scale that’s needed.

“CFOs have more data at their fingertips than anyone else in the company,” said Manish Sharma, group chief executive of Accenture Operations. “Operating with real-time data puts the CFO in a unique position to drive positive change for the business, pivoting the finance function from measuring value to creating value and driving growth.”

When asked about the greatest areas of concern to their business for 2021, CFOs most often cited the potential impact of rising interest rates (cited by 49%), disruption from the pandemic (47%), economic recession (47%), and hiring and retaining the right talent (42%). Given the complexity of these challenges, the majority (68%) believe that a real-time financial model — which makes use of AI, machine learning algorithms and real-time, diverse data sets — will be critical to enabling better business decisions, more-accurate forecasting models and improved data accuracy.

Even during the pandemic, respondents said they’re investing, on average, 33% of their finance department’s budget this year to building real-time operations and processes. Large U.S. companies — i.e., those with at least US$10 billion in annual revenue — appear even more committed to such a capability, saying they intend to invest at least 50% of their (2020-2021) finance-department budgets in this area. Roughly two-fifths (44%) of respondents said they plan to have nearly all finance processes and operations in real-time over the next three years.

 “If recent history has taught us anything, it’s that businesses that thrive in an unpredictable environment do so by being agile and swiftly adapting to change,” said Dr. Christian Campagna, Ph.D., who leads Accenture’s CFO and Enterprise Value network. “Not only do finance leaders need to outmaneuver uncertainty, but also leverage an intelligent finance operating model that draws upon data, applied intelligence, digital technologies and human talent to give them the speed they need to make the enterprise succeed.”

While these advantages are well-known, finance leaders also face a variety of challenges in implementing these processes. For example, real-time scenario planning topped the list of CFO priorities for 2021 (cited by 34% of respondents), but 58% of respondents expressed concern about identifying or hiring the right talent to implement this capability. While roughly a fourth (24%) of respondents cited real-time insights as highest priority for their company’s finance function, roughly two-fifths (43%) believe that technology is the most significant barrier to implementation, with slightly fewer (39%) citing the same for strategy know-how. Technology was also seen as a barrier to implementing continuous close (43%) and continuous accounting (40%).

“Implementing real-time processes isn’t easy, but CFOs today must move at the pace of their business to minimize risk and uncertainty and open up new opportunities for business growth,” said Manoj Shroff, who leads Accenture’s intelligent finance operations offering. “By embracing change and pivoting to intelligent operations, the role of the finance function is increasingly elevated while positioning the company for growth.”

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Most Consumers Want Insurers to Handle Personal Cyber Threats as Pandemic Drives Digital Consumption https://digitalitnews.com/most-consumers-want-insurers-to-handle-personal-cyber-threats-as-pandemic-drives-digital-consumption/ Fri, 01 Jan 2021 21:29:46 +0000 https://digitalitnews.com/?p=3314 Three out of four consumers (76%) would welcome assistance from their insurer in dealing with cybersecurity threats as the pandemic drives more consumers online, according to a new report from Accenture. The new report, titled “Three ways COVID-19 is changing insurance” and based on a survey of more than 47,000 consumers globally, aims to understand how [...]

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Three out of four consumers (76%) would welcome assistance from their insurer in dealing with cybersecurity threats as the pandemic drives more consumers online, according to a new report from Accenture.

The new report, titled “Three ways COVID-19 is changing insurance” and based on a survey of more than 47,000 consumers globally, aims to understand how consumers’ experience with, and expectations of, insurance products and services during the pandemic may drive permanent changes in the industry.

With consumers spending significantly more time online, the pandemic has increased the risk of cyberattacks and fraud. This is driving consumers to go beyond traditional identity theft solutions and turn to their insurers for personal cybersecurity needs, even though cyber insurance has traditionally been offered primarily as a commercial product. At the same time, however, the report found that consumers are concerned about identity and personal data protection issues, with one in five (20%) saying they worry their data will be stolen if they share it with insurance providers.

“We’re at the beginning of a new movement in personal cyber insurance,” said Kenneth Saldanha, who leads Accenture’s Insurance industry group globally. “The pandemic had a profound impact on customers’ lives, which will likely realign their expectations of insurers to help them in a more vulnerable and digital world. Insurers are reimagining their role in their customers’ lives by helping them deal with cyber incidents and build on their long-standing trust with customers to ensure them that they feel their identity and personal data are protected.”
The report also finds that as COVID-19 has significantly disrupted work under stay-at-home restrictions, consumers expect long-term changes to their lives that make new demands of their insurer. More than half (56%) of respondents who can work from home said they expect to do so more frequently in the future. And as homes are now the epicenter of their working life, more than half (53%) of respondents said they would be interested in home cybersecurity insurance where premiums are tied to using the latest virus protection software.
“With more people now working remotely, insurers must protect their customers’ homes not just as physical assets, but as digital assets as well,” Saldanha said. “Insurers should play an active role in helping prevent cyber threats in the first place. Consumers tell us they want to be rewarded for good behavior and have their premiums more accurately reflect how they live their lives and stay safe.”
 The pandemic and resulting financial fallout have shifted consumers’ priorities when deciding whether to stay with their insurer. Two years ago, consumers’ top priorities regarding their insurance provider focused on customer service, including fast and efficient issue resolution. However, consumers now cite “value for money” as the main reason to stay with an insurer.
“Consumers want to be in more control of their cashflow and feel that their insurer understands their new world,” Saldanha said. “While financial relief, like the rebates offered by U.S. auto insurers during the pandemic, had a positive influence on consumer perception of insurers’ performance during the crisis, insurers shouldn’t get caught in a race to the bottom war on price. The battle for the consumer still remains in offering trusted, personalized customer experiences, adapting to new risks, and really being there for them to protect their best interests.”

More insights from the consumer survey will be released early next year in Accenture’s Insurance Consumer Study 2021 report, which will cover longer-term consumer trends for the industry.

Methodology
Accenture surveyed 47,810 respondents across 27 countries: Australia, Belgium, Brazil, Canada, China (including Hong Kong), Denmark, Finland, France, Germany, Ireland, Israel, Italy, Japan, Malaysia, Mexico, The Netherlands, Norway, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, United Arab Emirates, the United Kingdom and the United States. Respondents were required to have an insurance policy. The survey was conducted online during July and August 2020.

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AAAC: 2020 State of AI in Advancement Report https://digitalitnews.com/aaac-2020-state-of-ai-in-advancement-report/ Wed, 16 Dec 2020 21:06:19 +0000 https://digitalitnews.com/?p=3220 The AI in Advancement Advisory Council (AAAC), published the State of AI in Advancement report. The study builds on the benchmark report, first issued in 2019, and examines the accelerating need for AI to address workforce efficiency, the emergency of “digital” gift officers, pipeline generation, and more, in the context of a year of crises. “Advancement leaders in [...]

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The AI in Advancement Advisory Council (AAAC), published the State of AI in Advancement report. The study builds on the benchmark report, first issued in 2019, and examines the accelerating need for AI to address workforce efficiency, the emergency of “digital” gift officers, pipeline generation, and more, in the context of a year of crises.

AAAC Releases 2020 State of AI in Advancement Report

“Advancement leaders in 2020 acknowledged the need reassess our true North. The tried and true methods we used in the past to secure philanthropic support for our nonprofit organizations must adapt and innovate,” said Reed Sheard, Ed.D, CIO and Vice President of Advancement for Westmont College and Chair of the AAAC. “Finding a new model for successful fundraising and artificial intelligence presents an incredible opportunity to move significant donor relationships forward at scale. I’m incredibly proud to present this year’s State of AI in Advancement report along with my fellow AAAC members because it lays the foundation for transformative change in our industry.”

During the COVID-19 crisis, the landscape of advancement changed dramatically. From staff and budget cuts to developing a new understanding of donor relations in a purely digital format, to reimagininig how to significantly grow new pipeline in order to offset revenue disruption — in many ways advancement professionals are increasingly being pushed to transform how fundraising operates. The 2020 AAAC State of AI in Advancement report specifically examines these industry shifts and finds that 82 percent of advancement professionals believe AI is a part of the long-term solution.

“This year, more than any other, advancement as a whole has been forced to face the uncomfortable and adapt to ensure future growth. The intersection with artificial intelligence is inevitable,” said Adam Martel, CEO of Gravyty and AAAC member. “This year’s State of AI in Advancement not only proves the leaders are already adopting AI to solve their largest challenges, it also is an amazing guide that shows three exciting areas where AI is yielding tangible results.”

The AAAC’s top-line findings from the 2020 State of AI in Advancement include:

AAAC Releases 2020 State of AI in Advancement Report

AI adoption is becoming a priority

  • 82% believe that AI will be part of the solution for challenges facing fundraising teams as a result of COVID-19
  • 66% of nonprofit organizations are considering investment in new tools and technologies to address challenges as a result of COVID-19

AAAC Releases 2020 State of AI in Advancement Report

There’s a new and accelerated need for workforce efficiency within advancement

  • 73% of nonprofit organizations faced budget reductions and/or hiring freezes in 2020

AAAC Releases 2020 State of AI in Advancement Report

New roles within advancement are emerging

  • 62% believe that some personnel will be shifted to the role of a digital gift officer

As need for pipeline development grows, so does belief in AI

  • 82% believe that AI can effectively prioritize and reach more prospects

The full AAAC 2020 State of AI in Advancement report is available here. The 2020 State of AI in Advancement report was compiled from the AAAC’s volunteer members. The data used for all sections of this report comes from surveys of advancement professionals conducted between March 3, 2020, and July 29, 2020. In total, 337 advancement professionals participated in these surveys.

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DNSFilter Protects WFH Employees During COVID-19 https://digitalitnews.com/dnsfilter-protects-wfh-employees-during-covid-19/ Tue, 01 Dec 2020 18:59:25 +0000 https://digitalitnews.com/?p=3064 AI startup company DNSFilter provides a DNS security threat and content filtering solution for enterprises. Their industry-leading solution detects if a page contains malicious or inappropriate content in real-time. As companies have swiftly shifted to working from home and worldwide stay at home orders and lockdowns continue, many are looking for solutions that keep their [...]

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AI startup company DNSFilter provides a DNS security threat and content filtering solution for enterprises. Their industry-leading solution detects if a page contains malicious or inappropriate content in real-time. As companies have swiftly shifted to working from home and worldwide stay at home orders and lockdowns continue, many are looking for solutions that keep their employees safe while working online.

The global COVID-19 pandemic has brought more businesses online, which has also increased opportunities for cybersecurity threats. DNSFilter is backed by powerful artificial intelligence that can detect cyber threats and phishing attacks faster-offering an extra layer of security for operations shifting to remote systems.

Disrupting the $2.7BN Content Filtering Market
According to a July 2020 market research report by ReportLinker, the Global Web Content Filtering market was initially estimated to reach $2.7 billion in the year 2020. With the global COVID-19 crisis continuing to spread, the market size is expected to reach $5.7 billion by 2027 growing at a CAGR of 11.5% over the next seven years.

DNSFilter Co-founder and CEO Ken Carnesi created the company from his frustrations with existing web filtering solutions. He recognized many of the options available were either overpriced, outdated, or simply ineffective. His solution? Create the fastest DNS solution on the market.

Increased Protection and Productivity
The global COVID-19 pandemic has brought more businesses online, which has also increased opportunities for cybersecurity threats. DNSFilter is backed by powerful artificial intelligence that can detect cyber threats and phishing attacks faster—offering an extra layer of security for operations shifting to remote systems.

Regarding the move to WFH, Carnesi said, “Since the start of the pandemic, we’ve seen the need for remote protection grow by nearly 300% on our network. Companies are looking for solutions that transition easily from traditional offices to work-from-home environments.”

With DNSFilter, organizations can prevent access to unwanted and malicious content on all devices, both inside and outside their network. Some of the benefits include the ability to:

  • Deny access to tasteless/adult content
  • Keep employees on track by blocking time-wasters like YouTube & Netflix
  • Protect off-site company devices from malicious domains

 

“At the start of the pandemic, phishing sites increased by 350%, and 55% of those sites mention coronavirus,” said Carnesi regarding the increase in online attacks during the pandemic. “A lot of these sites are set up to mimic informational sites about coronavirus. Our Data Scientist trained our AI back in March since these threats were becoming so common. We were able to protect our users from threats while they began working remotely and were blocking them from receiving misinformation about COViD-19.”

DNSFilter’s global reach is trusted by brands and organizations, from small business owners to larger corporations. NVIDIA, a Fortune 500 company and leading manufacturer of computer GPUs, picked DNSFilter after a stress test revealed DNSFilter’s AI engine’s speed and accuracy.

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Salary.com Survey: 87% of Organizations Have Met Production and Delivery Timelines Despite Pandemic https://digitalitnews.com/salary-com-survey-87-of-organizations-have-met-production-and-delivery-timelines-despite-pandemic/ Mon, 30 Nov 2020 21:59:19 +0000 https://digitalitnews.com/?p=3060 The shadow cast by COVID-19 on corporate America may not be as dark as anticipated, according to Salary.com‘s 2020 Pay Practices and Compensation Survey*, conducted in August-September of 2020. While 64 percent of organizations have taken more than two employment actions due to the pandemic, the most prevalent by far was asking employees to work from [...]

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The shadow cast by COVID-19 on corporate America may not be as dark as anticipated, according to Salary.com‘s 2020 Pay Practices and Compensation Survey*, conducted in August-September of 2020. While 64 percent of organizations have taken more than two employment actions due to the pandemic, the most prevalent by far was asking employees to work from home, reported by 92 percent of organizations.

This action was followed by layoffs (30 percent) and furloughs (27 percent), with reduced hours and salary freezes both reported by 22 percent of organizations. Almost three-quarters of organizations experienced layoffs, furloughs, and/or facility closures.

Salary freezes have been prevalent, with 61 percent of survey participants reporting that 100 percent of their employees experienced a salary freeze. Salary reductions were much less prevalent. Less than half (47 percent) of organizations reporting that a quarter, or less, of their employees experienced salary reductions.

Despite this sobering range of employee actions, efforts to minimize the impact on headcount appear to have helped mitigate operational disruptions: only 13 percent of organizations reported their current level of turnover has led to missed production and delivery timelines.

Conducted by Salary.com, the leading SaaS provider of cloud-based compensation market data, surveys and analytics, the survey had 1,300 participants, representing 21 industries and multiple ownership types and sizes.

“While the pandemic’s unprecedented impact on corporate America cannot be denied, this survey demonstrates that the mix of employee actions taken, and no doubt tremendous resiliency among employees, has led to a relatively low level of production delays,” said Chris Fusco, Salary.com’s Senior Vice President of Compensation.

 Download the report.

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