It’s only digital until it’s not…
Our world is increasingly digital and increasingly vulnerable to digital attacks.
Today’s corporations are increasingly reliant on digital systems, as are we all. We are all digital citizens, reliant on digital infrastructures, devices, and networks. This means most material business transactions have their underpinnings in the digital world. Your business likely relies on some or all of the following:
- Online financial transactions
- Location-based services
- Cloud storage
- “Smart” office automation
- Networked devices via the Internet-of-Things (IOT)
- Digitally-managed digital and/or physical infrastructures
- Digitally-managed physical infrastructures
- Social media and digital marketing
The list of examples goes on, but you get the point. Disruption to any of the above can seriously impede business operations, safety, and reputation.
What’s more, many business offer platforms, services, software, or physical products entirely reliant on or greatly enhanced by digitization. We have all read about data breaches resulting in customer information getting stolen and abused. The Target hack is a recent painful example. But the outage to Delta’s systems that happened this year caused days of disrupted travel and made front page news in USA Today.
Bottom line, digital disruptions can cause a great deal of frustration, unplanned customer service “triage” activities, loss of wealth — for you and your customers, and reputation damage.
Then there are products that impact health and safety. Medical device companies must worry both about the digital components of certain life saving devices as well as the theft of intellectual property (IP) that is digitized. Recently, Johnson & Johnson warned patients of a (low risk) security vulnerability in one of its insulin pumps that could be exploited by a hacker. Another medical device manufacturing company had to deal with bad press this year from fake, unreliable products being marketed under their brand. Industrial manufacturing companies and automobile makers also must keep in mind both the integrity of “smart” systems as well as IP theft. In all of these instances, failure to guard a brand’s product from a digital perspective can actually cost lives.
So it’s really all “digital” until it’s not.
The digital world doesn’t exist in a silo. Digital risk management activities shouldn’t either.
Consumers are demanding smarter and more integrated products. But the more integrated and digitized products become, the more opportunities exist for exploitation. Companies must keep pace by taking “digital” risk management out of the IT and information security world and elevating it to corporate level risk management conversations. New approaches to IT Governance are certainly in order. But so are new technologies.
With DigitalStakeout’s solutions for Digital Risk Management, you can enhance brand, physical, operational, and cyber threat protection. With a broader reputation risk landscape and a deeper understanding of potential threats to your company and products, you are in a better position to head off major incidents. Our Digital Threat Intelligence software gives you the power to get actionable information without engaging costly vendor services. .