In the face of increased ransomware and overall security incidents, weaving the fabric of trust throughout your organization is an opportunity for business differentiation. While the intricacies of each sector and business may vary, one thing reigns true: trust talks, and is key in empowering efficient workflow in every business dynamic. So, where should you begin? The answer lies in establishing a trust-based cybersecurity program.
Security is often siloed and to have a truly holistic program your organization needs to approach security throughout the supply chain and internal processes from a singular standpoint: trust. Facilitating a trustful security posture empowers your organization to align privacy, third-party risk management, ESG, GRC and business needs collectively.
What is Trust-Based Cybersecurity?
Establishing trust-based cybersecurity means organizations must conduct thorough due diligence. This includes everything from identifying key assets and weaknesses in your security posture, to understanding threats to your vendor ecosystem. This strategy will empower individual stakeholders to implement risk-based security measures into their day-to-day processes.
In the wake of increased successful and high-profile attacks, ransomware incidents, and the newfound fragility of critical infrastructure systems, areas like governance, risk, compliance (GRC), and vendor risk management (VRM) are emerging as undeniably necessary components of instilling trust throughout enterprises. This includes a shift in focus to the importance of the individual and requires each of these areas to align with the pillars of an organization’s risk posture: security, compliance, and privacy.
The Silos of Trust and Their Interplay
Siloed business units are not as effective as cross-team collaboration; each area must work collaboratively to facilitate organizational trust. This aligns goals and duties, allowing each facet of an organization to work towards a common goal, giving an organization the autonomy to proactively tackle industry-related issues and showcase dedication to its stakeholders. Business leaders working to build a trust-based organization should emphasize collaboration across the following business units:
- Governance, Risk, Compliance (GRC): GRC enables organizations to analyze risk, scale compliance, and reinforce governance while identifying, tracking, remediating, and monitoring risk across its operations and IT (Information Technology) infrastructure.
- Vendor Risk Management (VRM): VRM serves to enable visibility into all aspects of an organization’s security structure from the ground up, giving insight into vendor inventory, lifecycle, and risk.
- Environmental, Social, and Governance (ESG) & Ethics: ESG and Ethics programs are emerging as key components of cross-organizational strategy. This includes comprehensive monitoring of environmental and social impact, reporting on and reducing emissions, contributing to the creation of environmental regulations, and implementing holistic diversity, ethics, and inclusion training throughout all levels of the business.
- Consent & Preference Management: Consent and preference management allow organizations to prioritize choice and transparency in the user experience across web, mobile, and CTV platforms through the application of a privacy-first approach.
- Privacy and Data Governance: Privacy and Data Governance allow organizations to prioritize appropriate data gathering, usage, and storage practices while staying aligned to industry-relevant regulations.
Overall, it’s key that business units collaborate to address the growing challenge of protecting organizational and consumer data by strengthening trust through each of these workflows.
Trust as a Competitive Advantage and Key Business Differentiator
Enabling your organization to stand up a trust-based cybersecurity model will allow you to provide a seamless, trust-centered experience both internally and externally. Additional benefits include:
- Fiscal Savings: Trust enables your organization to align and work smarter, not harder. Integrating trust and transparency into the internal and external user experience by looking at trust from the bottom up, and opens this opportunity.
- Increased Brand Reputation: Fiscal savings enable your business to work smarter, lessening lift across the enterprise while maintaining a seamless user experience. This improves customer-facing processes and increases brand reputation in the marketplace as trust becomes a key buying decision for global users.
- Consistent Compliance: By and large, standing up a holistic solution will allow your company to prioritize regulatory compliance in a way that’s streamlined for the entire organization establishing trust from the inside out.
Why Cybersecurity Awareness Month Matters to OneTrust
OneTrust’s commitment to trust begins and ends with privacy, security, and compliance. At OneTrust, we strive to not only comply and implement best practices but to stay one step ahead, pioneering the future of privacy and security as technology continues to evolve.
Join us every Monday through October as we define what it means to do your part to contribute to cybersecurity in both your professional and personal life by implementing best practices and learning about topics ranging from emerging adversary tactics, techniques and procedures (TTPs), the evolving security landscape, and cybersecurity education to action trust-based cybersecurity from the individual to the enterprise. Request a demo to learn more today.
Further cybersecurity awareness month reading:
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