Security affects every area of business and a co-ordinated approach is essential to ensure that your business doesn’t get hacked.
There are number of major business impacts directly related to security:
- Business continuity
- Business Risk
- Reputational damage
- Fines for data breaches and non-compliance
Because security impacts every business function, a specialist coordinator is essential to ensure security and compliance.
Human behaviour and passwords account for 90% of hacking and data breaches.
There are many additional factors which increase the security risk:
- More mobile devices are connected to company systems which may be lost or stolen
- The use of Mobile hotspots for Internet on the go
- Greater integration between online and off-line systems
- Integrated supply chains allow hackers to infiltrate one company, as a route to attack another upstream or downstream in the supply chain
- Increased collaboration by using applications like Microsoft Teams, Slack, Google Drive, Dropbox, Facebook, LinkedIn etc.
Security requires buy in from the Board of Directors (C-Suite) to allow Chief Information Officer (CIO), Chief Technical Officer (CTO), Chief Security Officer (CSO) to work horizontally across business functions.
The different business functions involved are:
- IT department for hardware, software, networks and databases
- Marketing department for website, social engagement, communications and CRM
- Manufacturing for automated control systems
- Logistics for physical and automated security systems
- HR for policies, procedures, training and monitoring
- Legal for internal and external policies, and compliance
The Internet of Things (IoT) is a major issue because:
- There is no internationally recognised standard for security
- Security is left to each manufacturer whose objective is to sell more products
- IoT devices do not fall under existing business functions and are easily missed
- The amount of data is expected to increase by 50 times as the IoT market grows
The shortage of 2 million Chief Information Officers (CIO), Chief Technical Officers (CTO) and Chief Information Security Officers (CSO) who understand all the business functions is increasing the security risk.
Training staff and fixing technical issues will improve security. The final part of the equation is to ensure security does not impact on the customer journey and experience of your business.
80% of security issues are common to every business and OBT Synergy has a global collaborative environment to address the critical security skills shortage.