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HOW TO REDUCE YOUR COMPANY’S BUSINESS RISK?

22 lokakuun, 2020

Digitization has led to major skill gaps around organizations’ awareness of IT security. Managers have been hampered by their own and the organization’s competencies when it comes to raising awareness of the individuals’ responsibilities. This responsibility lies with the general manager and the directors. Responsibility cannot be delegated, but the job can be done by others. 

This lack of competence regarding own responsibility leads to create large gaps in organizations. It thus becomes possible and easy for threat actors to break in. We are not just talking about the usual cyber criminals, but national states, which have the time, money capacity and know our vulnerabilities.  

At Pedab we have a team of experts who work with business risks every day. We see that there is a lack of focus on addressing the potential of cyber threats in our daily digital dealings with others. There must be a skill boost in areas such as cyber threats, cyber risk and business risk. 

 
More awareness around IT security is needed  
While investing in information infrastructure, where it is efficient to optimize business processes and to meet customer demand, awareness is not very high for the digital dangers you are dealing with. Not only does this jeopardize the viability of the company, but also our data.  

Companies that have a well-thought-out cyber security agenda appear to be pros, even though they lose great value in cyber-attacks. Like the 2017 Maersk incident, Yahoo lost over $ 300 million for not having a good strategy on secure data and being honest with its customers that they had leaked all of their data.  

Together with our partners, we work in Pedab’s IT security division with clients across Europe to raise awareness of the importance of safeguarding digital assets. This is not a revolution, but a systematic and fundamental strategy to help leaders, developers and delegates with responsibilities. We monitor alerts and help when things go wrong. Our European customers operate worldwide, and we support them 24/7. 
 

Our three focus areas when preparing an agenda for IT security  

  1. Business risk – we look at the possibility of direct or indirect losses, which are due to errors in important business systems, processes, procedures or in people.  
  2. Reputation – focusing on the potential for loss or damage, caused by damage caused by the organization’s reputation or public image. 
  3. Legal and Compliance Risk – Potential for loss or damage, due to legal action being taken against an organization for breaking the law or regulations. Something that applies to the full of increasing vigor when GDPR is a reality.  

Want to learn more about how our security experts can help you reduce business risk? Then you are welcome to connect with us.