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Tuesday, May 22, 2018
 

Cyber Security as a Business Enabler

Information Security
Author: Mark Dixon
Thursday, April 19, 2018
11:28 am

Enable business

This morning, I reviewed a proposal for improving a company’s security against data breach.  The main reasons giving for the investment in security technology were:

  • Improve security posture
  • Reduce risk for internal and external data breach
  • Increase compliance reporting capability
  • Increase confidence by locking down data

These are all valid reasons for making the proposed investment, but shouldn’t there be more? Doesn’t good security support good business results in a positive way?

By happy coincidence, just before I reviewed the proposal, I read a thought-providing article, “Reframing Cybersecurity As A Business Enabler,” published by Innovation Enterprise.  The introductory paragraph states the obvious:

Innovation is vital to remaining competitive in the digital economy, yet cybersecurity risk is often viewed as an inhibitor to these efforts. With the growing number of security breaches and the magnitude of their consequences, it is easy to see why organizations are apprehensive to implement new technologies into their operations and offerings. The reality is that the threat of a potential attack is a constant.

But rather than dwelling on the problem, this article challenges traditional thinking:

Though the threat is real, instead of viewing cybersecurity in terms of risk, organizations should approach cybersecurity as a business enabler. By building cybersecurity into the foundation of their business strategy, organizations will be able to support business agility, facilitate organizational operations and develop consumer loyalty.

The article explores each of these three business value areas in more detail. I have included a brief excerpt in each area:

Security supports business agility

Instituting strong security measures enables organizations to operate without being compromised or slowed down. Companies that invest in cyber resilience will be better able to sustain operations and performance – a definite competitive advantage over those caught unprepared by an attack.

Security facilitates business productivity

One survey of C-level executives revealed that 69% of those surveyed said digitization is ‘very important’ to their company’s current growth strategy. 64% also recognized that cybersecurity is a ‘significant’ driver of the success of digital products, services, and business models. 

Security develops customer loyalty

PricewaterhouseCoopers’ 21st Global CEO Survey found that 87% of global CEOs say they are investing in cybersecurity to build trust with customers. 

I recognize the need for strengthening security defense mechanisms for the sake of risk mitigation. However, if we restrict ourselves to the traditional “security as insurance policy” mindset, we are missing the greater value of good information security in supporting positive business success. 

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