Operationalize Key Drivers for IT Risk Solutions

Operationalize key drivers for IT risk solutions through strategic and tactical elements and deliver focused reporting. From connecting your digital enterprise, tracking risk and compliance obligations, and implementing automation.

Managing risk and uncertain events to mitigate potential loss, recover from damaging incidents, and minimize business interruptions are ongoing challenges for modern-day businesses. With contributing risk factors constantly changing and impacting organization exposure, maintaining up-to-date insights is increasingly difficult. Whether you are building a new risk management practice or looking for a system to mature and optimize your current programs, it is important to establish a data framework that can support quick adjustments. The ability to re-tool your business over time is critical to keep your key drivers for IT risk solutions current with market changes and shifts in the competitive landscape.

From intellectual property to customer information, the data flowing through businesses today is arguably the most valuable asset within the organization. How companies operate has increased their attack surface from:

• the amount of data your business collects and accesses
• the locations where the data is stored
• how data is transferred and processed, internally and externally

While digital channels have fueled rapid growth and process optimization, the onboarding of new systems and innovative tools have surged at a much faster rate than broad-scale security controls. This imbalance has led to channels of unchecked data exchanges and left many organizations open for cyber-attacks. Technology and motivated threat agents are finding new, seemly hidden, opportunities for vulnerabilities to be exposed. Changes in risk exposure continue to shift and adjust at an accelerated rate. Businesses need to track assets, processes, and company resources to accurately identify and measure risk exposure promptly to keep pace with cyber threats. Digital transformation is well underway, but many businesses have not taken the necessary precautions against cyber threats. Findings from the EY Global Information Security Survey 2020 of roughly 1,300 cybersecurity leaders indicated that 65% of businesses only consider cybersecurity after it’s already too late (Lovejoy, 2020).

Having a system tailored to specialized business structure and operations is essential, but the system needs to be able to adjust in line with your key drivers for IT risk solutions including programs and resources. A system out of sync can leave you exposed to cyber threats, consume unprecedented resources, extend your time to value, and inflate your overall cost of ownership. Many risk management solutions offer a robust catalog of features. Still, if the solution’s basic functions are unable to keep pace with a company’s organizational alignment, the features can quickly become obsolete.

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