Security has always been a top concern for companies undergoing digital transformation but in the cyber security part of digital transformation? The answer might seem like a given, but the two concepts are not always so clearly defined.
There can be some overlap between the two – and some areas where they differ. Let’s take a look at what cyber security is.
Is Cyber Security Part of Digital Transformation?
The rise of smart gadgets and shifting client demands have accelerated worldwide digital transformation. As a result, companies are discovering new prospects and high-end capabilities for competitive advantage and development.
Because of the epidemic, firms did compel to adapt to remote work, which accelerated the introduction of new technology. This was when digital transformation went from a long-term goal to a reality.
As a result, CISOs and security teams must manage digital transformation risks by supplementing and improving IT and cyber risk management operations to meet this new paradigm.
Let us now look at how digital transformation affects IT and information security strategies.
Rising Cyber Risk
The growing use of digital transformation has altered cybersecurity as we know it. This is due to increased cyberattacks, data breaches, and other cyber incidents as the danger surface expand.
Organizations embrace more digital technology in many aspects of their industry, searching for new business models and improved consumer experiences.
Most security teams claim that their corporate executives are unaware of the magnitude of risk that unprotected digital assets offer to their brand assets.
According to Ponemon’s Digital Transformation and Cyber Risk survey, 82% of IT security and C-level executives encountered at least one data breach when integrating new technologies and growing the supply chain. It increases the effectiveness of such cyber assaults, resulting in enormous expenses and a significant impact on corporate activities.
This is why the job of the CISO and the risk function, in general, elevate so that they may develop an organization-wide cybersecurity plan that coincides with your company’s objectives. They must effectively communicate to maintain the security of all digital assets while also improving collaboration at the senior and operational levels.
Dependence on Third-Party Services
As corporations accelerate their digital transformation, they rely on third-party suppliers such as cloud providers, robots and process automation, and IoT to enable these programs. Because of how business units outside of IT may embrace new technologies, shadow IT has grown, making measuring the organization’s risk profile increasingly more challenging.
While third-party goods and services may considerably improve digital organizations, the additional risks might be more hassle than the advantages are worth without a comprehensive third-party/vendor risk management policy.
Conflicts Between Information Technology Security and C-Suite Executives
When it comes to protecting the security of digital assets, we are seeing a rise in confrontations between IT security employees and C-level executives as digital transformation accelerates.
On the one hand, the primary role of security leaders is to secure the company. Historically, this function has been viewed as an obstacle for CEOs who are measured on the company’s growth. Risks do require for growth and innovation. However, as the bottleneck of corporate technology adoption weakens, we see an increase in shadow IT as business units no longer need to go via IT to acquire and implement new technologies.