With businesses’ digital transformation initiatives accelerated during the pandemic, cyber risks are no longer an issue of the IT department. Cyber risks are business risks threatening the very existence of highly digitized and interconnected organizations. Companies are compelled to address those risks before they impact their operations.
Risk management is the process of identifying, assessing and controlling risks to an organization’s business, assets, revenue, productivity and reliability. Risk management informs decision making on the investments, policies and practices to mitigate threats and minimize their adverse effects. A risk management approach benefits an organization in many ways as it strengthens their security posture and helps build trust with their customers.
Read our article to find out more about the importance of adopting a risk management approach to security and privacy.