As of December 31, 2017, there were 4,156,932,140 internet users around the world. That is approximately 54.4% of the world population (7,634,758,428) at the time.
Basically, every person who can afford to have an internet connection and electronic devices, do almost everything online. It is no surprise, therefore, that organizations around the world need to go through digital transformation.
What is Digital Transformation?
Digital transformation takes place when digital technology is integrated into products, processes, and assets of a business for the purpose of optimizing operational efficiency, improving customer experience, expanding into new markets, and managing risk.
Digital transformation can be difficult for some organizations. However, the increased use of digital technologies such as the cloud, IoT, AI, big data, and mobile in more areas of business and society, in general, have proven that digitalization is the only way to go if companies want to have a competitive advantage.
Although digital transformation is discussed mostly within the business context, all types of organizations need to evolve to adapt to the changing business landscape.
What are the benefits of Digital Transformation?
1. Operations become more customer-centric
The main concern of digital information is the ability to use technology to improve customer experience. Digital transformation helps the organization focus and pay more attention to what customers want since service becomes consistently improved across all channels.
2. Operations are consolidated
New technology helps streamline business workflows and overhead that are typically associated with outdated solutions is eliminated.
3. Customer strategy is enhanced
New technology gives the organization, capabilities that help in acquiring, retaining and assisting customers.
4. Digital Transformation provides universal customer experience
When technology and enterprise-wide systems are connected, customer experience is simplified and becomes universal regardless of when, where, or how customers choose to interact with a brand.
5. Digital Transformation drives data-based insights
Digitalization enables a company to combine data from all customer interactions, allowing them to optimize their strategies and processes to help them achieve better results.
6. Costs are ultimately reduced and sales increase
Organizations need to spend on new technology at the start of digital transformation. However, as stated earlier, operations become more focused on customers and tasks become more efficient. As a result, the workforce is more productive and customers are happy. When customers are satisfied, they do more business with the brand and there is a high probability that they will refer the company to others.
These benefits clearly prove that digital transformation is best for organizations. For this reason, senior management in various organizations in different industries has put this as a priority. However, management should also realize that, although there are benefits to digital transformation, there are a number of risks involved.
Technology improves company operations and this results in improved customer experience but at the same time, may leave organizations open to cyberattacks.
According to a report by Cybint, 230,000 new malware samples are being launched every day. In addition, there is a hacker attack every 39 seconds, affecting one in three individuals in the U.S. alone. Since 2013, there have been 3,809,448 records stolen from data breaches that occurred on a daily basis. That means, 158,727 records per hour, 2,645 per minute and 44 every second of every day. The report also states that approximately $1 trillion is expected to be spent globally on cybersecurity from 2017 to 2021.
According to, “The State of Cybersecurity: 2016” study conducted by ISACA (formerly known as the Information Systems Audit and Control Association), approximately 82% of organizations feel that their board of directors is concerned or very concerned about cybersecurity. However, as the aforementioned statistics show, there seem to be gaps between what many organizations want regarding cybersecurity to what they actually do about it.
Why is cybersecurity lagging in digital transformation?
1. All organizations know that cybersecurity is critical but few people like to be confronted with this requirement
With technology, user experience, performance and agility are crucial. Security, of course, is also important. However, to several users, having to go through other procedures to make sure that network systems are secure, make them uncomfortable. As a result, security has become built-in practically everywhere.
There has to be a change in outlook. The focus of digital transformation in most organizations has been on speed, automation, optimization, innovation and other transitional goals. Digitalization should also focus on cybersecurity and compliance. Instead of viewing cybersecurity as a cost, companies should view it as a fundamental requirement.
2. Many seem to believe that cybersecurity slows down digital transformation
Digital transformation involves change, connectivity, speed, agility, improved service, enhanced customer experience, etc. However, when you add cybersecurity into the mix, many find it boring because of the rules and regulations, training, and everything that is included in the implementation of security.
Much is going on in terms of marketing within the context of digital transformation but cybersecurity is barely mentioned when a company draws up plans for increasing sales. In fact, many users do not want connectivity, speed, performance, and customer experience to be affected by security solutions. This is not the case with new technology anymore. These days, security solutions can even be done in the cloud. Unfortunately, many organizations do not involve their security team at the beginning of the process. In fact, they are often called in too late.
3. Some organizations do not seem to have a sense of urgency to implement security in new technology
According to a survey conducted by Dell, 97% of survey respondents say they have been investing in digital technologies that will transform their business, including mobile, cloud infrastructures and applications, and IoT. However, only 18% confirmed that security has been involved in all of their digital transformation initiatives.
Surprisingly, the same survey showed that 85% of respondents admit that if security teams are involved from the beginning of the project, those initiatives could have been better enabled by security.
4. Cybersecurity is not a simple process
Cybersecurity is not an easy fix to potential cyberattacks. It requires developing a strategy that involves prioritizing the most critical processes and systems within the organization, as well as identifying and protecting potential sources of vulnerabilities or attacks.
5. Making a business case for cybersecurity can be difficult
Unlike other aspects of business where you can project what it can bring into the business (improved customer experience, increased sales, etc.), you cannot predict how much an attack will affect the company. Even if you can factor in potential losses if cybersecurity is not properly implemented, you will only accurately know when an attack has occurred.
6. Mobile technology has changed security parameters
Technology such as mobile and IoT has made security parameters more complicated. The cybersecurity perimeter is practically all over the place. Since there are several channels through which attacks can take place, anti-virus and firewall solutions are no longer enough for today’s mobile user.
7. Data and information are undervalued
Organizations often undervalue data and information. These are the essence of the businesses and a source of revenue and new business models. But this is not reflected in the cybersecurity initiatives of many organizations.
How can organizations address these issues?
Overall, a change of mindset regarding cybersecurity should take place. Security should be involved from the start of digital information in an organization. Cybersecurity should be embedded into the company network. Treat cybersecurity as assets and strengths that is crucial to the success of the company instead of looking at it as an additional cost. It is also important to have the CISO or another executive in charge of cybersecurity to be part of the team.
Cybersecurity is essential for a successful digital transformation. To ensure that your organization’s network is secure as you go through this process, you need to consult cyber experts.
Netswitch has been named by industry analysts like Garner as one of the leading Managed Detection and Response (MDR) Services in the world. The company delivers advanced threat detection through security analytics, with 24/7 monitoring and alerting, and remote incident investigation and response included in the end-to-end service. The services that we provide are available at a price point that is affordable to small and medium businesses.
How does MDR protect digital transformation?
MDR services will protect your investment and core competencies and enable your business to compete as global changes take place. Traditional cybersecurity solutions can only protect your assets while its technology lasts.
The risks in digital transformation are huge. MDR will not only to protect your brand. It will protect all your investment because MDR will also monitor all changes involved.
Your employees play an important role in the success of your company. MDR can help enhance their expertise to make sure that they perform tasks up to par. MDR will help ensure that your investment in people and technologies will work for your company, and your team.
Contact Netswitch today to schedule a consultation. Our cybersecurity experts are on hand to respond to your queries and other concerns.
The post The Importance of Cybersecurity in Digital Transformation appeared first on Netswitch Technology Management.
*** This is a Security Bloggers Network syndicated blog from News and Views – Netswitch Technology Management authored by Press Release. Read the original post at: https://www.netswitch.net/importance-cybersecurity-digital-transformation/