Digital transformations are having structural effects on how businesses operate and how they are organized. Cloud, IoT, Big Data, and major mobility issues are causing a rapid evolution of models, infrastructures and uses. It’s safe to say that we’re more connected than ever before. Interestingly, even though 58% of companies consider digital transformation to be the n°2 issue for businesses, second to company earnings, only 7% of organizations view cybersecurity as a top priority in the digital transformation of companies.
So while the risk of a security breach continues to rise with the digital transformation, why have good practices that improve cybersecurity not been implemented as quickly as the threats grow?
There are many possible answers to this question. Here are a few possible explanations as to why companies are slow to implement good practices for security of company data.
- Monitoring threats using internal resources only. This would be a serious oversight. It is difficult to identify threats using just internal surveillance because of their complexity and changeability. It’s necessary to anticipate attacks rather than simply defending the organization once they happen.
- Overlooking the broader consequences of an attack. Security issues are sometimes neglected because the greater effects of an attack are not taken into account when estimating the damage. When considering a cyber attack, too often it is the direct costs that are considered in relation to the loss or theft of a company’s information (for example, a customer database). However, it is the infrastructure as a whole that is invalidated by the loss or theft of that one component.
- Thinking you are not vulnerable. Some organizations believe they are too small in size to be the victim of a cyber attack. But they couldn’t be more wrong. In fact, the vulnerability of their data makes small and medium-sized businesses the ideal targets for hackers, especially when it comes to ransomware.
On a global scale, there is significant growth for cybersecurity
“The French cybersecurity market is one of the fastest-growing markets in Europe, particularly in terms of large companies and administrations,” explains Mathieu Poujol, Principal Consultant for PAC France, CXP Group, Europe’s leading independent consulting firm in the field of software, IT services and digital transformation. This growth trend is, however, very wide-ranging because 25% of organizations have already adopted a paperless policy for their boards throughout the world.
Cybersecurity, driven by the intrinsic growth of the digital industry, is now an important market. We already know that by 2021, 50% of boards will have opted for going paperless.
But beyond the growth of this industry, it is people, boards of directors and workplace committees who must change their habits. These are the most vulnerable targets in the company because they possess highly confidential information.
Making security a strategic issue for boards of directors
By using virtual and secure environments, we can prevent the consequences of cyber attacks for the entire value chain of the company.
Cybersecurity is a necessity from a professional and business perspective. Look at it this way; the strategy to be put in place is like a roadmap. For example, the data security of the board depends on the common usage of the whole group. Adopting a “secure by design” approach helps to anticipate the risks of cyber attacks. Adopting a management solution for its data, meetings and documentation means anticipating cybersecurity risks.
There are many advantages to progressively evolving toward a paperless board. The effectiveness of the board of directors is strengthened: upstream, the preparation of meetings is simplified at the level of data management and authorizing access. The use of ISO27001 certified servers makes it possible to protect the board from possible breaches. A paperless board also provides a more effective board experience for board members. In fact, access to data, mobility of documents and the use of collaborative tools can result in faster and better decision-making.
In order to ensure effective governance and rapid implementation of decisions, it is essential to have a solution that is appropriate, flexible and easy to put in place. Because the truth is, there is no digital economy without digital security.