The disruption of 2020 has had a global impact. For many organizations, this impact is a combination of opportunity and risk. The opportunity to continue operations and provide essential services during the current situation does not come without business, operational and security risks. While some effects are temporary, organizations will feel the consequences of the crisis for some time.
Across the globe, organizations face four major areas of disruption during these unprecedented times:
- Business operations are disrupted in countless ways. Many organizations accelerated digital transformation initiatives as a means of survival to ensure business continuity and resilience.
- The workforce faced several immediate challenges with health and safety at the forefront. Many businesses were forced to quickly shift and enable remote working, which changed traditional usage behaviors in terms of applications and network dynamics. Those without the existing infrastructure had to get the right technology in place to enable their remote workforce.
- The ripple effect across the globe directly impacted supply chains. Organizations with global supply chains were forced to navigate extreme shifts as different regions struggled through the crisis. From finding alternative suppliers to adapting production cycles to demand, organizations continue to adjust in real-time. Digital supply chains have also adapted as companies shift to meet demand or adopt necessary technology solutions quickly.
- Finally, the crisis represents a security and risk management “perfect storm.” With new risk priorities emerging from the current operating mode, organizations are increasingly vulnerable. An expanded risk profile must be met with an evolved security posture. While digital initiatives have propelled organizations forward, the pandemic has applied increasing pressure to be resilient in the face of disruption and has confirmed technology is a foundational element of that resiliency. The organizations that have made digital maturity a priority are positioned for success when business continuity is needed.
There’s no doubt digital transformation will continue to be pervasive. According to the RSA Digital Risk Report, 88 percent of respondents said their organizations were actively engaged in digital transformation initiatives. Six in 10 said they were “extensively engaged.” The current disruption is a turning point in the digital transformation journey. It highlights the critical need for businesses to rely on technology to power the future of their business success.
Author: Steve Schlarman
Category: Blog Post, RSA Point of View
Keywords: Digital Transformation, Integrated Risk Management, Innovation, Risk Managment, Cybersecurity
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