Cyber Risk Often Overlooked by Organizations
Cyber risk is still not being given proper consideration by many organizations, according to experts. Enterprises often fail to recognize that cyber risks can present a threat to business goals and objectives and should be considered from the outset. They often wait until later stages of development or production to address these risks, which can be both time-intensive and costly.
Lack of Cyber Risk Integration
The lack of cyber risk integration into organizations’ risk management strategies is a growing concern for experts. Oftentimes, cyber risks are viewed as too complex to address, despite the fact that experts encourage early inclusion of cyber security principles into business strategies.
Addressing Cyber Risk Early On
By addressing cyber risk from the start, organizations are more effective in mitigating damage that can occur from cyber security threats. Chief information security officers should be consulted during the early stages of product development to weigh in on staff decisions that may be risky.
Employees in product development should be trained on the basics of cyber risk management. They should also be trained to recognize threats that may impact their task or project, and to be aware of the risks that may arise from their work.
Addressing Cyber Risks An Ongoing Process
Addressing cyber risks should not be a one-time effort. Instead, it should be an ongoing process that is prioritized throughout the organization. By prioritizing cyber risk, organizations can ensure that they are staying up-to-date on the latest threats, and can respond accordingly to threats as they arise.
Despite the ever increasing threats posed by cyber criminals, many organizations are still failing to recognize the significance of cyber risk. Addressing cyber risks will likely be an ongoing process as new threats emerge. However, by prioritizing early on, engaging the appropriate stakeholders, and developing best practices for identification and management of threats, businesses can proactively minimize cyber risks.
It looks like businesses need to get with the program! Cyber risks may seem too complex, but not taking them seriously can be a costly move. Those who know better should speak up during early stages of development and encourage training for employees. The reality is that addressing cyber risks should be an ongoing process and early preparation is key.