Ensuring proactive protection to secure customer data in a digital world
The digital customer experience transformations are compulsory and not optional in the impending digitized world to match the competition. Customers require state-of-the-art digital experiences, delivered on all platforms, through any computer, wherever they want. Companies transform their digital systems, processes, and practices that incorporate emerging technology, such as machine learning and artificial intelligence, and adopt lean techniques that facilitate design thinking to satisfy these customers.
However, while digital transformations are essential, they are not risk-free. These transformations are built on a vast range of new cybersecurity threats. New automated processes produce customer data heaps that demand cybersecurity services. Many of these data are retained in the company; others are exchanged with business partners. More data stored in many locations offer a wider, weaker target for foreign hackers and bad actors.
There are high stakes. The cyber intelligence systems determine any violation or leak of customer data that could cost considerable money. It can also incur the wrath of regulators and seriously harm the credibility of a corporation.
As a result, any company that undertakes digital transformation for enhanced customer experience must make cybersecurity an integral part of its corporate culture.
Here are four reasons why companies cannot rely on more of the same when it comes to cybersecurity:
1. Reactive solutions aren’t enough. Cybersecurity experts have generally concentrated on identifying issues and then counter-measuring them. This tactic is no longer enough in the modern world, as there are more cybersecurity attacks than ever. Hackers are riding on the unrestricted work from the home network. They can now do faster damage and have become more adept at covering their tracks.
2. Data is everywhere, and it is mostly unstructured. Legacy cybersecurity models are designed to secure structured data within a corporate database. But still, data remains unstructured, and a vast range of enterprise expertise comes to play. There are all kinds of data available at the enterprise’s end – ranging from word files and tablets to images, videos, audio, and more.
Also, vital business data now exists in the cloud and on billions of computers worldwide. What modern solutions need in the hyperconnected world is data structuring. This also includes enabling cybersecurity risk management services for all the devices in use, coupled with driving cloud security.
3. Companies no longer own the devices that hold their data. Cybersecurity teams should focus on hardening defenses around a select group of internal IT systems, data centers, and networks before IoT. But today, there are a plethora of IoT devices, with each device acting as a possible entry point for the attacker.
There are instances of, for example, suffered a damaging breach when hackers breached its payment systems and stole login credentials from an internet-connected HVAC system.
4. Existing strategies cannot meet new regulatory requirements. The regulatory environment is changing. Untouched by the vast attacks on US credit office Equifax, which revealed personal information for approximately 145.5 million Americans. It disturbed how social media platforms sold user data without their customers’ awareness or consent; governments promulgated ever more stringent privacy rules and regulations.
5. Blending risk analysis into the design
Too few organizations, when deciding which digital systems to introduce, use a risk-based approach.
Instead of attempting to wrap a security blanket around an inherently insecure infrastructure, businesses should ensure that cybersecurity experts play a key role in developing, constructing, and evaluating digital systems and processes used to protect IP, protect consumer data, and maintain regulatory enforcement.
The days are gone where businesses might relegate cybersecurity policy to their IT departments; it’s a business problem. Organizations must use a strategy that incorporates cybersecurity into all company facets, from employee preparation to sales to funding to operations.
Complying with Regulations and Cost Evaluation
As noted, the latest EU GDPR put new obligations in privacy and data protection on businesses.
Businesses in the jurisdictions where they do business must comply with all relevant laws and regulations. But as new cybersecurity regulations multiply and enter into effect, businesses will have to make some hard choices as to whether doing business in those countries makes financial and strategic sense.
For instance, some countries are now passing laws stating that their citizens’ data must be located within their borders. Companies must determine the costs and benefits of compliance with those laws to ensure customer data security.
– First, the security engineers need to navigate the new distributed data centers cost for setting up within the predefined finances.
– The next question involves gauging the organizational values and make substantial improvements to its cybersecurity policy or protocols to switch from a few centralized data centers to several remote systems.
– These data centers distract the cybersecurity team from others with more critical risks to its core systems by the technical and business difficulties of securing them.
In certain cases, it may be beneficial for a business not to bear the extra expense, uncertainties, and distractions regarding particularly challenging legislation and reverse the non-core markets or countries.
Begin with Security
Today, corporate security leaders face a major challenge that includes enabling access +and availability to necessary data. This includes and bad actors were always searching for ways of defeating the defenses—but what is fresh is the increased opportunities for maladministration and crime. We live and work in an evolving universe of vulnerabilities, with data residing everywhere—and progressively beyond the company’s four walls—with every point in this universe linked. This is the strength and weakness of the state-of-the-art technology market.
This increasingly robust and useful network of connected systems and devices provides companies a tremendous opportunity to create innovative customer experiences to meet standards and satisfy customers. But it also requires businesses to integrate cybersecurity concerns into the design, production, and testing of these new experiences and the digital products and services that support them.
The best and most cost-effective time to understand the cybersecurity implications of all these creative goods, services, and interactions are at the start when they are only a glimmer in the eye of the company and before the mishaps occur. This is where cybersecurity experts can help better plan business expansion without compromising consumer data security.