Business leaders are becoming increasingly aware of the impact cybersecurity can have on business outcomes. Gartner shared that security leaders should harness this increased support and take advantage of six emerging trends, to improve their organization’s resilience while elevating their own standing.
This blog will be a two-part review of these trends that affect executives across the spectrum.
Trend No. 1: Legal and regulatory mandates on data protection practices are impacting digital business plans and demanding an increased emphasis on data liabilities.
Customer data is the essence of ever-expanding digital business services. Incidents such as the recent Cambridge Analytica scandal or the Equifax breach show the punishing business risks inherent to handling this data. Moreover, the regulatory and legal environment is getting ever more complex, with Europe’s GDPR as the latest example. At the same time, the potential penalties for failing to protect data properly have increased exponentially.
Trend No. 2: Senior business executives are becoming aware that cybersecurity has a substantial impact on the ability to achieve business goals and guard corporate reputation.
IT security is a board-level topic and a vital element of any digital/marketing business strategy. Business leaders have not always been sympathetic to this message, but a recent string of high-profile incidents have changed this sentiment.
“Business leaders and senior stakeholders, at last, appreciate security as much more than just tactical, technical stuff done by overly serious, unsmiling types in the company basement,” said Peter Firstbrook, research vice president at Gartner. “Security organizations must capitalize on this trend by working closely with business leadership and clearly linking security issues with business initiatives that could be affected.”
Trend No. 3: Security products are rapidly exploiting cloud delivery to provide more-agile solutions.
New detection technologies, activities and authentication models require vast amounts of data that can quickly overwhelm current on-premises security solutions. This is driving a rapid shift toward cloud-delivered security products. These are more capable of using the data in near real-time to provide more-agile and adaptive solutions.
Navigating the world of cybersecurity can be daunting for any executive. This is not the realm of the millennial only and executives need to absorb the threats accordingly. Diligent Consulting provides a full review of the risk management landscape and lists management measures to combat identified risk to the organization.