EDITOR’S LETTER
Say Hello to Illuminar, The Digital Enterprise Digest
The Digital Paradigm has been in the news for all the right reasons – from being a catalyst in organisational growth to actively reducing operational costs. The benefits of the Digital revolution are plenty-fold and everyone has rightly taken cognizance of the same. In the recent past, however, enterprises are also waking up to the possible risks of the Digital Revolution and seeking effective steps in risk mitigation.
Organizations are now actively looking to identify and manage the emerging risks associated with digital. Recent conversations with some of the consumers reveal that opportunities for the risk mitigation function to partner with their business are immense, and a lot of the success in digital will be determined by the strength of such partnerships.
This is interesting, because the risk function that used to be distinct from core business is now a strategic mandate for the board and investors. Processes are being set up for assembling a core risk management fuction within organizations.
But, for this function to be truly effective, organizations would need a working group and a progressively reviewed blueprint in place. Risk management needs to have a practical vision for both future trends and potential applications of technology to to be effective in the agile digital economy we operate in.
Gartner states that by 2020, 60% of digital business will suffer major service failures due to the inability of the IT security team to manage digital risk in new technology and use cases. In the 2015 Gartner CIO survey, 89% of CIO’s agree that the digital world engenders new, vastly different and higher levels of risk, and 69 percent acknowledge that agility is increasingly important relative to risk management. Digital risk management is the next evolution in enterprise risk and security for digital businesses that are expanding the scope of technologies requiring protection.
Digital Risk Management is the next phase in enterprise risk mitigation that is increasingly leveraging the digital paradigm to grow their business. Enterprises are putting in place effective mechanisms to build ongoing digital robustness in their business and protect themselves from digital threats that could cause irreparable loss to the business.
What are the primary risks and how are organizations preparing to respond to these risks. This issue of Illuminar features an interview with Mr. Rudra Murthy K G, Chief Information Security Officer – Digital India at Ministry of Home Affairs who shares some compelling perspectives on this topic.
As always, we look forward to your feedback. Happy reading and wish you good health always!
Best Regards,
Srividya Kannan,
Editor, Illuminar
editorials@avaali.com
