As 85% of Financial Officers view security issues relating to digital transformation as having a large effect on their companies, and 55% of businesses already experiencing a cyber attack in 2019, it is more important than ever to ensure you have sufficient security measures in place.
Why Security is important within Digital Transformation
Expanded Attack Surface Requires More Protection
The more applications and data that an organisation uses, the more opportunities there are for hackers or data breaches. There are more potential points of entry, which increases the vulnerability of an organisation’s network.
Constant Change
Technology is advancing at a rapid speed, which can make it difficult for the average business to keep up with the latest security processes. Cyber criminals are also continuously coming up with new methods of interception, meaning that organisations need to work continuously to find new ways to provide protection. It is a classic game of cat and mouse with very high stakes for every organisation regardless of size or industry.
How to ensure high security
Investment in security solutions
According to new research from insurance giant Hiscox, the UK had the lowest cyber security budgets in comparison with Germany, The US, Belgium, France, The Netherlands and Spain. Organisations need to develop a formal cyber security strategy and invest in security solutions fit for the current level of threat. But security solutions alone will not prevent an attack on a network that is not being well maintained. Ensuring that software is updated regularly gives extra protection directly from the software authors.
Provide training to staff
The biggest threat to any organisation is people. With increased digital transformation, staff may have a growing skills gap that can open companies up to threats. By providing continuous training to staff on security and IT, you can boost performance. By implementing security training in your business, you can prevent breaches that result from human error, as well as preventing attacks from disgruntled employees.
Create best practice
As the complexity of infrastructure platforms increases, the potential for security breaches increases. It is therefore essential to have a strategy and an actionable set of procedures in place for handling various forms of attack. After detecting an issue, employees should be aware of the next steps, including who to notify and when, password changes and learning about the cause of the breach.
There are now more cyber threats than ever before, and protecting against these requires a proactive, integrated and automated approach to cyber security. Organisations need to innovate and change their mindset regarding cybersecurity, thus embedding is into the company culture, as well as implementing effective solutions.
