Last year, our head of Cybersecurity advisory services, Daniel Ferreira, PhD, in collaboration with Henrique S. Mamede and Nuno Mateus-Coelho, released an article titled “Risk Management in the Current Digital Reality of Organizations” (2023), as part of the book “Contemporary Challenges for Cyber Security and Data Privacy” (Mateus-Coelho and Cruz-Cunha, 2023).
In this article, the authors focus on risk analysis and management, exploring a methodology that allows the development of a user-friendly risk management model that supports “the assessment of the methodological aspects of an organization”(Ferreira, S.Mamede and Mateus-Coelho, 2023). Find below the abstract of the published work.
“The most recent notes and observations from the broadest spectrum of cybersecurity specialists, including software companies, CIOs, CISOs, and others, indicate that proactive risk analysis will become more widespread in the foreseeable future. However, the way it is done right now means that this proactive stance is more than just an additional level of controls. It will require the addition of the data that was gathered from the monitoring and aggregation platforms. To turn all of that data into information, it will be essential to translate or otherwise change the data.
The movement towards a more stable digital world has advanced, and is continuing to advance, which has resulted in the proliferation of threat vectors. The increased reliance on third-party suppliers brought on by new initiatives within an organisation (such as digital transformation), such as OT and IoT, elevates the level of risk that is associated with that organisation. The reality of continuing business operations notwithstanding the presence of a pandemic is unchanging. As a result, the question becomes: Why is preventative cybersecurity so important for businesses?
The fact that 65% of firms still need to identify the third-party vendors that have access to the organization’s most sensitive data brings up some of the most important concerns about security and cybersecurity. The poll was conducted by the 2021 Ponemon Institute.
Conducting periodic audits, conducting risk assessments that are clear and succinct, and building an effective strategy for responding to cybersecurity breaches are critical obstacles that all firms must overcome in today’s world. On a daily basis, a number of occurrences take place, and occasionally, an appropriate response is given. Because of this, it is necessary to employ prediction models that are based on evidence and data.
In order to achieve the objective of always having the most effective response possible, a significant amount of money is being invested in research to identify the major factors that contribute to these accidents and to enhance both the efficiency and the capacity of reactions.
This study proposes a model that is previously built on prior frameworks, which enables its application to predictably evaluate those events and/or incidents that take place, correlating them to be able to be followed and accompanied, and to stop any future negative influence on the organisation.
With this method, more confident choices may be made regarding strategy, investment, and the distribution of future resources.” (Ferreira, S.Mamede and Mateus-Coelho, 2023).
Do not miss the chance to read this insightful piece. Access it at https://www.igi-global.com/chapter/risk-management-in-the-current-digital-reality-of-organizations/332714
In the ever-evolving landscape of cybersecurity, staying informed and vigilant is crucial. Contact us today for personalized advice on safeguarding digital assets. Security is the key to navigating the digital realm with confidence.
Source:
Cruz-Cunha, M.M. and Mateus-Coelho, N.R. (2023) Contemporary challenges for cyber security and Data Privacy. Hershey, PA: IGI Global.
Ferreira, D.J., Mamede, H.S. and Mateus-Coelho, N. (2023) ‘Risk management in the current digital reality of Organizations’, Contemporary Challenges for Cyber Security and Data Privacy, pp. 31–50. doi:10.4018/979-8-3693-1528-6.ch003.