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Do you know how vulnerable your business is?

21 July, 2019

Do you know how vulnerable your business is?

The first commercial computer, introduced by Lyons Electronic Office, was the start of a revolution in simplifying routine tasks. In recent years, our dependence on modern IT systems has, to a greater extent, also demonstrated how vulnerable society is if things go wrong.

Digitazation increases vulnerability

Our digital journey has in seven fast decades created an everyday life where we are influenced and dependent on computer technology. All computers are now linked and connected to various networks at all times. Our phones now have more power than we could dream of on an office PC some years back. Even the clock, the oven, the washing machine, the fridge, the car and other smart devices we use for everyday tasks are connected to networks. They are interconnected and make us dependent on everything working smoothly at all times. A few seconds of waiting, and we experience stress and small everyday crises.

The rapid digitization has created great opportunity for real crises. Crises that easily put your and my job at risk, and in the end, play Russian roulette with our lives.

Over 90% of executives are not prepared for how to handle a cyber attack, and unable to fully understand cyber security reports. 40% of executives believe they are not responsible for the consequences of a cyber attack.

Antivirus is not enough

When everything is interconnected, and we expect all systems to respond and interact at all times, it is crucial that the people who have competence help the leaders who lack the cyber security skills. While most people seem to agree that one must invest and modernize IT in order to be competitive, the same does not seem to be the case for information security. It seems that most people think that having antivirus and firewall means security. It’s a start, but it’s not enough. A Symantec leader said a few years ago that antivirus is dead.

Profitability, or competitiveness, is dependent of the efficiency of an organization’s processes and routines. IT should provide managers with the tools needed to optimize critical business processes, providing better profits over time and better access to information.

At Pedab we have a large team of experts who work with business risk every day. We see that there is a lack of focus on addressing the potential of cyber threats in our daily digital business with others. A boost in skills regarding areas such as cyber threats, cyber risk and business risk is necessary.

Roger Ison- Haug, Cyber Security Practice Leader, Pedab Group

40% of executives believe they are not responsible for the consequences of a cyber attack.

Do you want to learn more about how our security experts can help you reduce business risk? Welcome to contact us!