Why #CyberSecurity is critical to successful #DigitalTransformation projects

The role of the Digital Security officer is emerging to help board members translate business risks & opportunities

The age of the customer : Customer obsession + Security obsession = trusted digital experiences

Today more and more organisations(from private & public sectors) fundamentally look at shifting their business model to digital channels and modernising to survive, disrupt, specialise and above all to engage there end-customers at a deeper level through digital products & experiences(services).

These efforts are forcing fundamental changes to exist within the organisational chart and elevating the role of enterprise cyber security. Its purpose is fuelled by safeguarding critical assets associated with enterprises digital transformation such as financial, customer data, brand reputation, intellectual property, and employee information. Breaches to any of these could disadvantage the business and in some cases increase the chances of losing customer/market confidence when it comes to their ability as a service provider delivering a secure & safe experience.

Organisations can no longer look at security as an afterthought, they will need this to become a strategic priority for them.

Just look at some of the biggest disruptors in recent times Uber, Amazon, Netflix, and Ebay , who have reinvented themselves from traditional business models to digital and today have a similar makeup to most software companies. As they invest and deliver intelligent digital products to deliver and get more insight into their customer journey.

”Digital transformation is driving companies into becoming software houses – where security is paramount to customer confidence”

From cost to Revenue – understanding and sharing the business case for security is essential

Ensuring that senior executives and board members understand the costs associated with a breach is essential to productive risk management, as is being able to communicate the resources required for effective security.

The consequences of security teams getting involved in digital transformation projects late could mean the difference between future business, failure or losing market share in a very small period of time.

”The Consequences of not involving security teams early in your Digital transformation projects can be dire”

The mission of securing digital experiences is a constant, ongoing and continuous regime which drives assurance for businesses to roll out digital services to new markets and scale to meet demand.

Globally there are inundated regular stories about major data and cybersecurity breaches and there after effects. For hackers, digital transformation opens-up a virtual playground of opportunities to disrupt. A wider attack surface creates myriad ways for threat actors to gain access to data, critical systems, finances and other assets.

According to Cyber security Ventures’ 2016 Cybercrime Report, Every 40 seconds a business falls victim to a ransomware attack. This billion-dollar industry is exploding, with attacks growing at a yearly rate of 350%. And by 2021, cybercrime will cost the world more than $6 trillion annually.

”Every 40 seconds a business falls victim to a ransom ware attack”

CISO’s help create the culture and path to addressing cyber security – Helping the organisation become customer (security) obsessed when it comes to securing the digital experience(s).

So, it’s no surprise, that today the CISO (Chief Information Security Officer) is becoming a key part of the C-suite and boards are relying on them to help translate business priorities into cyber security strategies and plans to mitigate risk, innovate and provide continuous assurances for business investments that are critical & agile by nature.

Security is no longer just about protecting end-points or networks, it’s about ensuring s a multi-layered strategy that serves the enterprise and its customers. CISO’s are faced with addressing threats that can arise from various organisational security areas such as, physical, digital, process, and people oriented threats.

Enterprises are waking up to using AI and automation to help learn and respond to known and unknown risks, which are critical in the fight against protecting internal and external end customer digital experiences. Good security hygiene and threat intelligence has be a key part of a CISO’s toolkit to help anticipate and respond to attacks by understanding motivations, methods and intentions of the hackers. How they’re getting in ? who are they ? what are the looking for ?

Diagram above shows multi-layered security with deep Security 10 is powered by XGen™ Security, a blend of cross-generational threat defence techniques.

Establishing the right cyber security culture requires key stakeholders across the enterprise from Executive leadership, management to front line staff have an equal part to play in cyber security.

Those organisations that encourage and adopt this culture will bolster their business resilience from cyber criminals.

The cloud is a catalyst to digital transformation

According to Markets and markets report on Digital transformation market, the digital transformation market is projected to grow from USD 205.99 Billion in 2017 to USD 493.39 Billion by 2022.

The cloud segment is expected to witness the highest growth rate during the forecast period. Cloud computing enables easy access to data and information from anywhere and anytime. It also involves pay per use, which is cost effective for an organisation.

”Multi-cloud approach has a range of benefits, but it also presents significant challenges when it comes to security”

Nearly every business is now running some type of Hybrid cloud and adopting a cloud-first strategy in order to obtain speed to market for digital capabilities. The integration of public, hybrid cloud is creating huge opportunities for organisations at the same time creating more points of failure if the right security layers are not applied. The changing face of cloud now requires beyond traditional mindset in understanding security, network, storage and other workloads. True enterprise security is when an organisation has SOC(security operations centre) capabilities across the hybrid cloud instances, allowing them to implement, govern and manage security through a single pane of glass. Whether you are running a heterogeneous environment with workloads across private, hybrid, virtual and public clouds (AWS, Microsoft , google..).

Article bridging the hybrid cloud (Trend Micro)

Where to start ? some starting advice and principles ….

  • Build cyber resilience in to the your business culture. Don’t bolt this on or just align against technology only
  • Ensure your Cyber security team/partner/consultant is involved in digital transformation projects from the beginning
  • Build a layered approach to security across , physical, data, technology, process and people layers
  • Help the business realise Cyber security is not a cost but an enabler to differentiate and assure customers, employees and partners
  • Invest in the right technology which empowers to build security hygiene and threat defence across hybrid and public multi-clouds.
  • Use automation and AI technologies to add additional layers in your defence in finding anomalies and leveraging intelligent sand boxing
  • Work with experienced partners/consultancy that understands your industry and can help deliver security services as a utility or purely for advisory

Talk to experts at Trend Micro and learn how Trend and our partners can help you build your security strategy to bolster your Digital transformation project(s).

Speak to us today and meet with @Bharat Mistry Trend Micro’s Principal Security Strategist on how enterprises are preparing and adopting best practices and strategies to secure their digital world. Visit Trend Micro website @ www.trendmicro.co.uk

Read more on Trend Micro Blog :

  1. Bank of America loses $10 million in data breach
  2. Morgan Stanley data breach affects 34,000 investors
  3. Equifax data breach what do I do next ?
  4. Trend Micro’s Data Breach Report: “Follow the Data: Dissecting Data Breaches and Debunking Myths”