The days of IT being a sunk cost are over – at least they are for organisations that want to leverage the full power of digital transformation, while minimising the risks. This new reality applies to many of the ways in which technology supports the realisation of business goals – both offensively and defensively. And as business becomes increasingly digital, both assume ever greater importance.
Digital risk protection is a proactive defensive strategy that organisations pursue to counter threats, avoid unnecessary cost, improve efficiency and recover lost revenue. Significant ROI can be uncovered in all four areas. This makes it relevant to risk and compliance officers, security departments, marketing and corporate communications functions, and the C-suite.
ROI 1 – Risk avoidance
Like most other elements within a typical cyber security strategy, the investment in a solution must be seen within the context of the unwanted costs a security breach will generate. The former is usually a small proportion of the latter. But avoiding resolution costs is only part of the story. One of the most valuable aspects of a good Digital Risk Protection (DRP) solution is the insights it provides into an organisation’s digital footprint. This is a crucial element in establishing the actions required to protect the business and its reputation from risk.
ROI 2 – Cost reduction
Digital Risk Protection solutions automate many of the tasks involved in identifying, monitoring and resolving digital threats to an organisation, around the clock. On-premise off-the-shelf or DIY cyber security measures that provide only partial coverage of these tasks offer poor value when compared with purpose-built, continuously updated solutions, delivered as a service. The best digital risk protection solutions also cover Shadow IT (i.e. unauthorised domains, apps or devices being created or used without informing the IT department) and Forgotten IT (such as old website landing pages and archived content), which provide additional cost reduction opportunities.
ROI 3 – Increased efficiency
The automation inherent to digital risk protection solutions makes identifying vulnerabilities faster and easier, thereby increasing process efficiency. The identification and elimination of the Shadow- and Forgotten IT mentioned above also streamlines each organisation’s digital footprint and saves on the resources needed to maintain and host it.
ROI 4 – Recovered revenue
Successful cyber attacks have an immediate negative impact on organisational revenues. So do phishing websites and online websites selling counterfeit or stolen goods. All of these threats also adversely affect brand reputation, which can drive customers to alternative vendors. Digital risk protection solutions help mitigate these risks to an organisation’s revenue by helping to identify and eliminate illegal or threatening activity as quickly as possible.
Digital Risk Protection has never been a necessary cost. It’s an investment that can repay itself many times over, not just through risk elimination or avoidance, but also through proactive cost reduction and revenue protection.
Cybersprint is expert in helping organisations identify and eliminate digital risks to their data, operational continuity and revenue, wherever they originate online.
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