Unknown Assets Are Just Risks
Today’s remote workforce is making IT asset accountability difficult and costly. Critical asset data resides in multiple systems and formats, like static spreadsheets and incomplete databases, making the capture and synchronization of meaningful asset information difficult and costly. The risk is high, enterprises cannot defend or manage what they do not know they have.
The status quo is unacceptable, up to 30% of many enterprises’ IT hardware fixed assets are missing and can’t be found.1 IT departments are spending over ten hours per week reconciling data, and about half of organizations have over twelve resources working on asset inventory.2
CISOs and Senior IT security decision makers are challenged by the growing threats of ransomware attacks, a solution for asset management is needed. The global market saw over 493 million ransomware attacks in 2022, with the average ransom payment of $258 million and rising.3
Enterprise customers need an IT asset management tool to effectively track and manage technology assets, improve compliance, optimize IT infrastructure, and reduce costs. Lenovo heard the call from customers and has responded.
Smarter Security from Lenovo ThinkShield
ThinkShield Asset Intelligence gives the enterprise visibility to its assets, even if they are purchased from multiple manufacturers and places. The solution powered by Ivanti and included in Lenovo’s ThinkShield portfolio of cybersecurity solutions, allows IT managers to access their company-wide databases, including purchasing, shipping, warranty, and hardware components, so they can know what devices are where and with whom.
In addition, because all upgrades and any changes to hardware are registered, Lenovo is among the first hardware manufacturers to provide this OEM solution to fully automate the flow of factory procurement data with an organization’s discovery data to enable accurate and feature-rich asset management capabilities. Different from traditional security approaches, ThinkShield Asset Intelligence provides the full picture of knowing both what has been purchased and merging that information with existing endpoint management sources.
ThinkShield Asset Intelligence helps mitigate attack risks by tracking and monitoring devices throughout the life of the asset. By providing a clear set of processes and procedures to verify complete and accurate asset disposal, the solution anticipates and deflects threats before a breach occurs. With ThinkShield Asset Intelligence, enterprise customers can lower security risks by tracking assets, more quickly identify assets that are lost or stolen, and identify devices not being managed.
ThinkShield Asset Intelligence also enables IT managers to assign devices to user and locations, track software usage to avoid the phenomenon of “shelfware,” and gain insights about when to purchase or update assets.
“As the saying goes that you can’t secure what you can’t see,” said Nima Baiati, Executive Director & GM, Commercial Cybersecurity Solutions, Lenovo. “ThinkShield Asset Intelligence enables IT and Security teams to not only gain visibility to their assets but enables them to gain deeper insights into those assets allowing them to more effectively manage and secure those assets.
Hybrid Work and Learning is Here to Stay – But Only if Assets are Secure
The global pandemic was a catalyst for change, the disruption and its solutions taught people and institutions they can work and learn from anywhere anytime. However, this shift in institutional behavior is not without risk. Ransomware attacks worldwide more than doubled from nearly 188 million in 2019.4 But solutions like ThinkShield Asset Intelligence significantly helps reduce threat vectors.
For example, data breaches are the biggest threat to banks and other financial institutions, and the industry doesn’t fully support employees working from home due to high-value data and asset breaches. With ThinkShield Asset Intelligence, financial organizations are effectively armed with a zero-touch data synchronization engine, integrated Lenovo purchase data, and estimated market value. The solution enables more flexibility for one of the most influential workforces in the world.
Schools, on the other hand, have embraced hybrid scenarios. This was first done out of necessity during the pandemic when many schools were closed and then afterwards as a means if ensuring learning continuity through the regular school year. Unfortunately, cybercrime against schools is also rising. The rate of ransomware attacks in education continues to rise dramatically, nearly 80% of lower and higher education providers reported they were hit by ransomware in the last year, up over 50% from the previous year.5
When school systems implement ThinkShield Asset Intelligence, they obtain asset allocation by user, location, and organization. And with Absolute Secure Wipe (optional), every device can be secured should theft occur.
Daily business activity is no longer contained within an office, nor constrained by working hours. Modern business operates around the clock, and data is accessible from anywhere. This means new levels of security are required. Lenovo ThinkShield is evolving with the modern threat landscape to protect business and adapt to the needs of the workforce.
1 Ivanti, Hardware Asset Management – 7 Hardware Asset Management Best Practices
2 Ivanti, Hardware Asset Management – 7 Hardware Asset Management Best Practices
3 Black Frog, State of Ransomware Attacks 2022 and Statista, Annual number of ransomware attempts worldwide from 2017 to 2022
4 Statista, Annual number of ransomware attempts worldwide from 2017 to 2022
5 Sophos, The State of Ransomware in Education 2023