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article imageUnderstanding the cybersecurity risks of digital transformation

By Tim Sandle     May 3, 2019 in Business
Embarking on digital transformation is a journey that many companies are on, at various stages. While the benefits are clear, especially in terms of driving customer engagement, the risks around cybersecurity are sometimes less apparent.
Digital Transformation has become an increasingly common component of the workplace. The process sees businesses continually churning out and adopting new technologies to solve traditional problems. One consequence is that same increase in new technological tools presents a double-edged sword in that more items of technology equals more points of access and a greater potential for cyberthreats.
Cybersecurity risks are becoming increasingly apparent for many businesses according to new data compiled by 1E highlights (the survey is titled "Getting your house in order"). The survey indicates that cybersecurity has become identified as a serious issue by several organizations.
The survey findings have found that company boards prioritize operational efficiency (according to over half of respondents), but the C-level often fails to see how securing the network will achieve this. With one report suggesting that cybercrime damages will cost the world $6 trillion annually by 2021, organizations need to keep controls in mind in order to avoid wasting time and money cleaning up data breaches.
Some of the key findings from the survey are that only 11 percent of respondents indicated that IT security is a top budget priority. This is a relatively low level of companies, given the extent that companies are adopting new technologies.
Looking at some key cyber concerns, the survey focuses on Windows 10 Migration as an example. Adopting Windows 10 raises the security levels. However, more than half of respondents said that this type of technology and data migration was not happening fats enough. Concerningly, within the cybersecurity space, and 58 percent of the slow adopters indicated that this poses a major security risk.
Another concern that derives from the survey data is that 89 percent of respondents admitted that their organization prioritizes at least one other area above IT Security when it comes to budgeting. This appears to occur even when respondents said they were concerned about whether their own organizations were investing in the right level of cybersecurity.
More about digital transformation, Cybersecurity, business optimization
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