Digital Shadows, the industry leader in digital risk management, has unveiled a new report called: ‘The Pressing Need for Digital Risk Management’ from top analysts at the Enterprise Strategy Group (ESG) looking at the growing importance and rates of adoption of digital risk management in business today.
The report recognises that most CEOs and corporate boards no longer shy away from cybersecurity strategy as they might have done even 5 years ago. Rather, progressive executives now realise that cyber risk equates to business risk and needs to be addressed as part of their overall business strategy.
Most executives no longer accept ‘good enough’ security, and are willing to invest in best practices and leading security defences to protect their organisations. However, many organisations continue to think of cyber risk in terms of internal network penetration rather than as a more comprehensive strategy that includes all digital assets – websites, social networks, VIP and third-party partner exposure, etc. To address these risks, the report suggests CISOs and risk officers must adopt a thorough digital risk management strategy that includes monitoring, filtering, prioritising and responding to threats across the public Internet and Dark Web.
Jon Oltsik, Senior Principal Analyst at ESG who wrote the report, said: “Many executives are beginning to realise they need to take a different stance on cybersecurity. It is no longer a case of just spending dollars on perimeter-focused cybersecurity but they need to move to a more holistic digital risk strategy designed to analyse threat intelligence, monitor deep web activities, track the posting of sensitive data and oversee third parties.”
“We know that a strong and resilient strategic digital risk management strategy should include policies and monitoring for targeted cyberthreats; infrastructure exposure, data loss; brand and VIP exposure, physical threats and third party risks to be truly effective,’ said Alastair Paterson, CEO and Co-Founder of Digital Shadows. “Digital Risk Management, which combines automation and human analytics, is becoming the critical component in your cybersecurity arsenal.”
Download the ESG report The Pressing Need for Digital Risk Management.
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