Cybersecurity is an unending challenge for businesses. Just as they catch up, the bad guys innovate their techniques to continuously stay one step ahead. It’s an issue that will persist meaning cyber risk has become a business risk.
Organisations know anything that threatens their IT, threatens their company. It’s a pattern we continue to see – businesses getting breached and reputational and/or financial damage following. As such, cybersecurity is now a board issue and a permanent topic of conversation within corporate leadership teams. Yet, organizations need to take bigger steps towards making their cybersecurity posture as strong as possible – their business depends on it.
Assessing cyber risk
Businesses understand the ramifications a cyberattack can have on the whole company, with research finding that nearly one third (31%) experienced six or more attacks between June 2023-4, compared to the same period the year before.
The impact of an attack is vast, the repercussions of which affect the entire company. As such one of the most crucial tasks of a CISO is to rank cyber risks in order of impact. This requires an equal understanding of the business and its technology stack and isn’t an easy task.
Part of this assessment requires understanding the priorities inside the organization’s value chain and securing them accordingly. The second part of the challenge is to then look beyond the business itself and understand what outside forces may impact it. Among these external forces, we find the compliance framework – laws and regulations necessary to protect human beings, intellectual property as well as innovation.
The duality…
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