Gartner notes that 62% of CEOs have a management initiative or transformation program to make the business more digital. However, hardly any understand how to manage the security risks that have emerged as a result.
As organizations become more interconnected to their supply chain, customers, and partners, new types of risk have emerged. Unmanaged, these can lead to the loss of sensitive corporate data, violation of privacy laws, and damaged reputations. When surveyed by the Ponemon Institute, 72% of leaders agreed the rush to digital transformation increases data breach and cybersecurity risks, and 65% agreed the digital economy significantly increases the risk to Intellectual Property.
These risks directly impact business leaders: in North America, 32% of breaches lead to a C-level leader, manager, or president losing their job. While 77% of business leaders understand the need to manage digital risk, they face a sizeable challenge to understand the impact of digitization and create a coherent approach to protect against digital risks.
Digital risk, and particularly that which manifests from outside an organization‘s traditional boundary, is a critical missing part of a company‘s overall risk profile. Organizations need to identify their exposure and understand the threats to their critical assets to better manage digital risks. By detecting data loss, securing their online brand, and reducing their attack surface, organizations can reduce the loss of revenue, intellectual property, and reputational damage.
CEO and Co-Founder, Digital Shadows
Download Digital Risk – The C-Suite’s Critical Missing Part of Overall Risk to find out more.