Organizations that have progressed their digital transformation plans are more inclined to work with third-party service providers than companies in the early stages of transformation. This suggests that with digital maturity, a greater appreciation exists for external expertise, especially when managing risk.
Notable differences exist in how business leaders perceive risk management priorities. Those working in government express concern about meeting regulatory obligations. In retail and financial services organizations, respondents prioritize ‘what if’ scenarios of reputational damage and corporate liability.
Compliance and security are not the same. Compliance corresponds to a set of needs that change slowly, not daily as seen in the security landscape. To protect sensitive data, an active, smart and thorough security plan coupled with a solid compliance plan is what organizations need.