The CISO’s Guide to Turning IoT Security into a Strategic Advantage

The explosive growth of Internet of Things (IoT) devices has transformed industries, enabling greater automation, real-time data collection, and streamlined operations. However, it has also introduced a new wave of security risks, from unauthorized access and data breaches to supply chain vulnerabilities.

Still, some businesses may be reluctant to prioritize IoT security, perhaps viewing it as an operational expense rather than a strategic investment. Data shows that while 60% of organizations worldwide use IoT solutions, 43% of enterprises need a system to protect their infrastructure. A secure IoT ecosystem has strategic organizational benefits beyond reducing security risks.

By investing in a platform that addresses IoT risk end-to-end, organizations can move beyond a fragmented approach to security—lengthy segmentation projects and sporadic efforts to harden devices— and realize strategic operational benefits that enhance the organization’s overall efficiency.

Improve CapEx by Extending the Lifespan of IoT Devices with Operational Data

One of the biggest challenges with IoT devices is visibility. Traditional active scanning methods of inventorying and categorizing IT equipment are risky for IoT devices. Further compounding the matter, many IoT devices are highly mobile and can be easily misplaced. According to Forrester’s Top Trends In IoT Security In 2024, most organizations aren’t sure how many IoT devices they have. These unmanaged devices are more than a security risk; they cost organizations time and money.

Since security starts with a complete inventory of potentially attackable devices, organizations can reap the benefits of that inventory outside of cybersecurity. Having an asset inventory that incorporates IoT devices, their physical location, and usage metrics leads to increased utilization and extends the lifespan of existing devices. Many Asimily customers own both  Capital Expenditure (CapEx) for new equipment and the cybersecurity mission to protect those devices. This encourages them to both install only secure devices as well as extend their secure lives as long as the device performs its function.  Adding cybersecurity protections to even older, legacy, unsupported devices can lead to huge savings for organizations.

When organizations can effectively track and use the devices they already have, it provides multiple benefits. Increased device utilization helps reduce administrative costs, improve the procurement process, and can allow teams to make effective budgetary decisions using data-driven insights that identify necessary technology investments. 

In Practice: How Security and Utilization Go Hand-in-Hand

An industrial manufacturer has several different types of IoT devices: smart sensors, security cameras, RFID tags, and more to detect issues, measure quality control, and contribute to optimized production. 

After deploying an IoT security platform and conducting a device inventory, the manufacturer realizes that 20% of its devices are underutilized. It can use this data to optimize and reallocate the underutilized devices. Over time, the manufacturer can create a continuous improvement cycle, establishing regular audits for device utilization and ensuring they leverage each device effectively for maximum productivity.

Reduced Operational Risks with Pre-Purchase Assessments

Vulnerable IoT devices create risks for organizations. Intermittently upgrading these devices is necessary. However, upgrading an IoT device can be a complex decision; many IoT devices come with an EOL operating system to minimize manufacturers’ costs, and organizations want to ensure any potential new upgrades or replacements will not introduce new risks. 

IoT security platforms that enable organizations to manage risk end-to-end should provide targeted recommendations about hardening devices as part of a pre-purchase assessment or provide information on FDA recalls, helping organizations make informed purchasing decisions. 

Suppose a business running multiple office buildings is upgrading its smart thermostats, which are old and running poorly. Upon evaluation, it’s discovered the latest smart thermostat runs on Windows 7.0, which could introduce security risks that outweigh the benefits of the upgrade. The business runs a pre-purchase assessment and identifies several compensating controls to mitigate the risk. Additionally, the business’ IoT security platform will monitor all traffic to and from the thermostats. It should also offer targeted attack prevention – quick fixes that make vulnerabilities ineffective during an attack attempt – to avoid the thermostats being compromised in the first place.

These insights enable organizations to understand the most secure configuration for their ecosystem, allowing them to confidently upgrade or replace devices. 

Optimized Efficiency and Performance

Secure, well-managed networks improve efficiency and performance by reducing unnecessary device activity. The devices in your IoT fleet should only communicate with well-known devices, in well-understood ways. These insights can prove invaluable in the event of a cyberattack, acting as early indicators of compromise, but they also increase device efficiency.

Organizations that leverage an IoT security platform can apply strict access and configuration controls to regulate device behavior. The platform should provide information about which devices and IP addresses IoT devices communicate with, as well as create a snapshot of the device’s ideal configuration. This allows teams to ensure that all IoT devices on the network maintain stable, efficient operations and immediately return them to the last known good configuration in the event of anomalous activity. 

When IoT devices maintain stable, consistent operations within predefined parameters, organizations achieve optimal performance for that device. Some devices, like a smart infusion pump, should be configured to prevent it from sending or receiving large amounts of data. By doing so, organizations reduce the risk of straining network resources or the infusion pump’s battery, ensuring that it remains stable and operational for longer.

Moving Beyond Patchwork Security to a Strategic Approach

As an ancillary benefit, creating a secure IoT ecosystem can reduce the need to leverage additional security solutions. Data from McKinsey shows that as of 2023, only 50% of security providers were building holistic solutions for both cybersecurity and IoT due to the inherent challenges. 

With nearly 16.3 billion IoT connections worldwide, it’s critical that organizations take an active role securing both their IT and IoT ecosystems. When organizations invest in a platform that provides end-to-end IoT risk management and security, they reduce the need to invest in specialized, one-off IoT security solutions. 

Asimily: IoT Security That’s More Than Just Protection

For many organizations, IoT security efforts are reactive, focusing on damage control after an incident has already happened. While these efforts are necessary, they are insufficient to support the growing importance of IoT device protection. Creating a secure IoT ecosystem is a strategic, proactive choice that positions organizations to maintain operational resilience in the face of ever-evolving IoT risks. 

The Asimily platform is designed expressly with IoT risk mitigation in mind. We offer organizations the depth and breadth of capability needed to secure all devices on your network under one platform. 

With Asimily, security teams gain better insight into all assets connected to their systems. They can use this information to make proactive risk mitigation and management decisions that ensure uptime and create a stronger security posture. 

Interested in learning more? Check out our platform overview.