The race to digitally transform is on. Although organizations are eager to transition to digital models, transformation efforts fail 90% of the time.1 Regardless of your stage within the digital
transformation process, as your organization’s cyber security leader, you need to develop a clear digital transformation mindset.
It’s tempting for many organizations to hastily latch onto the nearest solutions without a strong vision, a thorough evaluation of risk and corresponding safeguards, and a detailed list of capabilities to ensure the long-term success of a secure transformation.
Vision: Eyes on the Prize
Your vision can carry your organization forward, making it more competitive and more profitable. However, the first major obstacle to clear before moving ahead with ideas consists of engaging leadership, and building trust in the approach. Without the support of board members and high-level internal leaders, your intended plans may stagnate, or worse, invite criticism.
Vote of Confidence from the Board:
When it comes to cyber risk, boards of directors are more informed than ever before. In 2015, 22% of board members stated that they had little or no knowledge of cyber security. By 2019, that number dipped to 15%.2 Nonetheless, this means that a significant number of board members (three out of every twenty) are still receiving a failing grade when it comes to understanding cyber security essentials. Because board members are responsible for the financial calculations and risk tolerance of the organization, and because these two themes heavily impact CIOs and CISOs, they should feel motivated to educate the board about cyber security.3 The less board members know about cyber security, the tighter the caps on CISO spending. Too often, cyber security can be viewed by stakeholders as an obligation rather than an investment in reducing corporate risk and driving business value.
1 “Competitive Landscape — Threat Intelligence Services,” page seven, Gartner, October 2014
2 “5 Security Questions Your Board Will Inevitably Ask,” Gartner, Kasey Panetta, October 23, 2019