EDITOR ’ S question
KEITH FENNER , SVP AND GM EMEA , DILIGENT
ith 75 % of UK businesses having
W experienced a cybersecurity incident in the last year , company leaders and boards will know that mitigating cyber-risk is an absolute priority . As well as providing necessary defence , cybersecurity also makes good business sense , as Diligent ’ s latest research found that companies with advanced cybersecurity performance deliver 372 % higher shareholder return compared to their peers .
Not only have cyberattacks become more frequent , but they have also become more sophisticated – hackers are increasingly using AI and advanced phishing techniques to infiltrate different areas of the business . The more sophisticated threats are , the more sophisticated your risk management strategies need to be .
To efficiently analyse your cyber-risk landscape and identify trends that warrant action , organisations need a solution that has in-depth analytical capabilities and provides real-time analysis , along
Organisations need a solution that has in-depth analytical capabilities and provides real-time analysis . with an alert system for elevated risk and action items . With timely data in hand , CISOs will be able to generate a wide range of reports and visuals to support decision-making efforts .
In addition to financial and reputational risk , cybersecurity has also become a major compliance issue . The EU ’ s NIS 2 Directive and Digital Operations Resilience Act ( DORA ) set a baseline for risk management and reporting approaches to cybersecurity and digital resilience , and UK organisations that do business in the EU must work towards demonstrating compliance . So , when considering technologies to detect and mitigate cyber-risk , it ’ s important to choose one that will also help facilitate collaboration across risk , legal and audit teams , as well as reporting between CISOs and management , so that the board is up-to-speed on how cybersecurity strategy is meeting regulations .
When considering their choices , CISOs should look for a platform that will integrate with existing systems , including ERP , line of business applications and accounting software , so they can collect and analyse all their organisational data in one place . The solution should also be accessible to the entire risk management team for seamless collaboration , so that different teams can share insights and support one another ’ s work . Finally , it should facilitate streamlined reporting , so CISOs can easily pull their IT and cyber-risk data and organise it into a meaningful , consumable format to deliver actionable insights to the board .
28 WWW . INTELLIGENTCISO . COM