Enabling a Sustainable Digital Business in Times of Massive Global Cyber Risk
Technology is an integral part of our lives, which means cyber risk and cybersecurity are becoming more important. With the ever-evolving digital and globally connected world, new terms for successful and sustainable business emerges. B2C as well as B2B consumers of business services are offered digital services for easy on demand purchase, consumption anytime, and anywhere. Customers use and trust their numerous digital identities with service providers and rely on 24/7 highly effective digital services to have their needs and demands fulfilled. Physical stores and shops gradually degrade to second priority of choice and mostly only when digital services are still not available or not feasible for physical demands. The COVID-19 pandemic has massively accelerated this change and made the challenge an even more urgent matter for any CISO.
Gain Digital Trust by Leveraging Business Opportunity Costs
Along with the growth of digital business, the processing of digital identities, digital exposure of core business assets, new types of motivation grow to gain access to the values generated by the digital business by unwanted external or internal parties. Further new types of regulations and restrictions are introduced to support fairness, transparency and constitutional individual rights. The challenges of meeting these cross-organizational demands call for a new paradigm.
Expenses for security and compliance measures to mitigate cyber risk, which used to be considered unwanted business revenue reducing cost or unnecessary business insurance have changed to now being costs of business opportunity! Successful and sustainable businesses of the digital age owe a mindset which embed any relevant appropriate risk mitigating measure. This will provide the business with a competitive edge that rely on the customers’ trust in the digital business and their continuous willingness to consume new and existing services – that is what we at NTT DATA Business Solutions call “Digital Trust”. Gartner’s Top Strategic Technology Trends for 2021 discuss the subject of Opportunity Cost and include both privacy-enhancing computing and cybersecurity mesh as two out of nine top strategic technology trends for the digital successful business of tomorrow.
Achieve Cyber Risk Resilience with a Holistic SAP Security Strategy
In SAP based digital enterprises, the ERP system represents a highly critical business asset which often forms the core of the digital business strategy. Therefore, the system is highly prone to technological global risk, such as cybersecurity failure and information infrastructure breakdown, as repeatedly reported by World Economic Forum Global Risk Reports. The massive amount of business data must be protected in terms of confidentiality, integrity and availability to ensure a successful and sustainable digital business. It is urgent for business leaders to include SAP security as a high priority investment to ensure sustainability of the digital business.
To do so effectively, a holistic approach is required – covering the entire SAP landscape, measuring all SAP security parameters, identifying threats of user behavior across the entire landscape, providing a risk based SAP landscape security management dashboard, as well as security incident management. Our recommendation to such a holistic approach is the SecurityBridge platform. This solution was designed and build to help any SAP customer – from small businesses to large enterprises – overcome the challenges of the severe gap in their cybersecurity strategy and enable the entire SAP landscape become a fully integrated part of the enterprise cybersecurity strategy. Read more about how the SecurityBridge platform can support your holistic SAP cybersecurity strategy in our next blog post on the topic.