October is National Cybersecurity Awareness Month, which means now is a great time to take stock of your organization’s strategy for managing IT risk and cybersecurity threats.
It’s also important to recognize that cybersecurity is only part of the puzzle in a comprehensive approach to protecting your data, managing and mitigating technology risk, and keeping tabs on your IT assets.
That’s why, for full oversight of your organization’s IT functions, you need a framework that addresses the full spectrum of program management, including governance and policies, risk assessment and management, and regulatory considerations.
More than just defending against cybersecurity threats, IT risk management incorporates proper governance, risk management, and compliance for all IT systems and processes that support business operations.
A comprehensive IT risk management program will equip businesses to efficiently manage and monitor tasks such as:
IT risk management proactively highlights issues that could lead to compromised cybersecurity before they become a significant problem. By building a foundation for smart management with program essentials — documenting information security policies, classifying data, identifying critical IT assets, and conducting IT risk and control assessments, to name a few — businesses build a risk profile and increase oversight of organization-wide IT functions.
According to Deloitte’s 2019 Future of Cyber Survey, which polled C-level executives who oversee cybersecurity, many organizations struggle to keep up with the demands of cybersecurity management and lack a unified framework for effective governance. The survey found that “the challenges are not limited to budget and resources but to a collective enterprise alignment on integrating cyber into critical business strategy and operations.”
Respondents identified specific challenges such as:
Perhaps your organization can relate to some of these barriers to better cybersecurity. If you’re ready to take the next step toward developing a strong IT risk management program, download our free guide:
Concerned About Cybersecurity? Start With IT Risk Management.
You’ll explore four key components of a successful IT risk management program, which in turn help strengthen your organization’s cybersecurity posture.