Despite concerns of a global recession, a new IDC Worldwide Spending Guide forecasts cybersecurity investments will reach $219 billion in 2023, an increase of 12.1%. No doubt, the ongoing rise in cyberattacks and an increase in focus by boards and the C-suite on mitigating risk and building resilience are behind the steadfast commitment to invest in security solutions and services.

With organizations becoming increasingly digitally connected, a lack of visibility into their vendors’ security diligence has made exploiting these relationships a go-to tactic for cybercriminals. Fifty-four percent of publicly reported breaches in the last two years have been due to third parties, vendors, or suppliers, representing one of the greatest cybersecurity risks. Additionally, 98% of organizations have at least one vendor that’s had a breach in the last two years.

Organizations are continually searching for ways to strengthen their defenses against an ever-expanding array of cyber threats. One powerful strategy that has gained momentum in recent years is the collaboration between threat intelligence and cybersecurity automation.