How to keep your organization secure with increasing digital risk

Digital Risk

It’s no surprise that the world has quickly evolved into an almost entirely digital one. More and more businesses and organizations are operating strictly online or with internet-connected technologies. Plus, a great deal of the population has easy access to the internet. There are a lot of benefits to a fully digitized world—especially for businesses. But a reliance on internet-connected technology means an increase in digital risk and cybersecurity incidents, too. While we’ve been successful at rapidly expanding our technological capabilities, we have left behind an integral part of the process—risk management.

In a 2018 report, IBM stated that:

  • In a study of cyber resilience, 77% of respondents didn’t have a formal cybersecurity incident response plan (CSIRP) applied consistently across their organization.
  • 57% of business leaders said it’s taking longer to resolve cyber incidents and 65% said attack severity is increasing.

And, in 2019, an EY Global Information Security Survey outlined the top 10 largest cyber threats against organizations. Here are the top 5:

  • Phishing (22%)
  • Malware (20%)
  • Cyberattacks to disrupt (13%)
  • Cyberattacks to steal money (12%)
  • Fraud (10%)

Organizations know that there is a heightened cybersecurity risk, but are failing to mature their programs quickly or adequately enough to keep up. Furthermore, a recent study at the University of Maryland sited that there is a cyber attack as frequent as every 39 seconds. Further, since the onset of COVID-19, the FBI in the United States has reported as much as a 300% increase in cybercrimes. With those statistics, it’s fair to say that stopping every single threat in its tracks is unrealistic. But, that doesn’t mean that the safety of your organization and its data is a lost cause.

A  mature digital risk management program abides by these steps:

  1. Anticipate
  2. Prevent
  3. Respond/Recover
  4. Adapt

These steps are made far easier through the integration of workflows and automation—technology that can help you identify and prioritize threats based on their potential impact. ServiceNow offers all of this on a single, powerful platform that has been expertly developed to keep your organization resilient against increasing digital risk.

With our newly combined team including Highmetric, Fishbone Analytics and NewRocket, we bring unparalleled experience to the table—with over 300 employees to help your organization navigate it’s digital transformation projects. Our expert management consultants can help your organization mature its digital risk management program today.

Start your GRC journey.
We’ll be your trusted partner.

Start your journey