Information security used to revolve around securing the locations where sensitive data was stored. Now, with the rise of cloud computing, data can be stored and transferred in an infinite number of ways — making it nearly impossible to protect against data breaches for every single device. The best solution for modern times, then, is a data-centric security model.
At its core, risk management is about identifying risks and guarding against them. It gives organizations a plan of action to determine which risks are worth taking and which aren’t, to assure better outcomes for their bottom lines. In this post we’ll outline the five steps of risk management, which you can use to protect your company against the uncertainties of doing business.
I’ve been working at Tripwire for over two decades, and I’ve acquired a fair bit of swag over those years: branded jackets, hats, shoes, a watch, and of course a drawer full of t-shirts. One thing I never would have predicted owning was a Tripwire-branded face mask to protect me from a global pandemic. Over the past year, I’ve worn that face mask more than any of my other swag. Of course, none of my other swag protected me and others from a highly contagious, deadly virus.
Ransomware groups have generated so much damage that the United States Federal government has made it a top priority to thwart such efforts including, hosting a major international summit on the topic, setting up a ransomware task force and repeatedly urging organizations to improve their cyber resilience.
Today’s business landscape means having various business partners. From contractors to technology vendors, third parties are now part of everyone’s daily operations. However, with every new third-party you onboard, you also add a new risk. Supply chain attacks compromise your data, even if the third-party isn’t providing you a technology solution. To secure your data, you need to identify and classify high-risk third parties.
Security in cloud computing is often a major concern among cloud customers, mainly because of the risk of losing sensitive data and the difficulties of enforcing the organization’s security policies. Despite cloud computing’s potential efficiency for storing and exchanging files, cloud security remains questionable. According to one report from Statista, 81 percent of respondents found security to be the most prevalent challenge in cloud computing today.
Outsourcing is a critical part of business management and an important ingredient in business growth. One business outsources some task to another — but that second firm can also delegate some of its own business processes to yet another company. That last company then becomes a fourth-party to the first. As the role of fourth-party vendors expands, having a vendor risk management strategy in place becomes key to organizational success.
