But digital transformation is not without risk. The fact is, the opportunities it creates are matched equally by the attack surfaces it proliferates. The U.S. government has identified cybersecurity as “one of the most serious economic and national security challenges we face as a nation,” McKinsey & Company has quoted1. Whereas its primary targets were once the military and financial institutions, in this era of connectivity, there’s not a single industry that isn’t vulnerable—not even farming.
The Harvard Law School Forum on Corporate Governance and Business Regulation2 recently re-upped its 2016 mandate that corporate boards formulate enterprise cybersecurity oversight with no less than the same level of care than that with which they assess the accuracy of financial statements. Yet only 82%of enterprises surveyed by ISACA (formerly, Information Systems Audit and Control Association) even acknowledge cybersecurity is a serious concern; of those, a mere 21% have a top-level security officer reporting to the board or CEO3.
Here at Exela, we’ve made it one of our priorities to step into the breach, so to speak. As Senior Vice President of Information Security and Risk, Tom Dolan, notes, “Digital transformation is worth only as much to an enterprise as the robustness of its security transformation,” and although that notion is baked into every solution and service we provide our customers, we’ve seen it glossed over or missing altogether from initial RFPs in a surprising number of cases. We get that cybersecurity can seem a less-than-thrilling topic in the context of digital transformation’s promise of better, faster, more efficient business processes. Some see it as a cost, where the benefit can be measured only by avoiding negative consequences. Some see it as chilling to innovation4. Others find it uncomfortably abstract or even, for lack of a better word, boring5.
But not us.
The truth is, we find it fascinating. Consider, for example, these staggering statistics on security, which make it abundantly clear what’s chilling to innovation isn’t security but rather a failure to address it. Not to mention, there’s nothing abstract about security—not when you consider some of the breaches that shaped our world, from ancient times through Watergate through the present day. In the weeks ahead, we’ll be diving in to discover how the “bad guys” get in, how keeping them out isn’t just doable but the essence of what we do every day at Exela, and all the security matters you’ll want to consider when choosing your digital transformation partner. Gotta read it all now? You can download the entire series as a flipping-book here: