The acceleration towards digital business has presented CIOs with new challenges. They must understand the goals of the business, quickly identify and assess the associated risks, and communicate the relevant risks to the business in business terms. By outsourcing your software development many of the risks might not be entirely clear. Who is working on what part and how is your security arranged?
The effects of losing control
Less control and overview on for example security issues can become a major problem. Why? The answer is twofold. On the one hand for your customers, relations and your own business. On the other had because of the law. Law makers in Europe are creating laws on data breach. This means that at this moment weak security measurements can not only result in a major fall down in business, a loss of clients and less credibility in the market like it did in the past but nowadays it means that low security measurements can result in high fines and are addressed as criminal offences.
At this time, we cannot deny that digital risks are increasing as newer data sources and technologies are woven into the fabric of the business. As Gartner tells us: ‘As organizations adopt more cloud technology and explore more digital business opportunities, existing risk management strategies and practices become quickly outdated.’ Risks and complexities that should be expected when transitioning to digital business have to be defined, as well as hazards that occur when mitigating new risk management challenges.
So should we stop innovation to reduce risks? Should we try and rebuild applications to make the perfect protected piece of software? Our answer is no. You definitely shouldn’t. We are convinced that you should embrace your risks, be aware of them and find your solution in other possible ways: Outlining, risk management, control, monitoring and actionable intelligence.
Become the CIO you want to be
What to do? Organizations must move away from trying to achieve the impossible perfect protections, instead organizations must invest in detection and response. How to identify risks and how to qualify risks. Getting back to the source code can give you immediate insights in how your software is maintained, what the possibilities and risks of your software are. Omnext can help you in achieving this, we can help you to become the CIO everyone wants: the recognized business leader, superstar communicator and facilitator and definite problem-solver.