Session Title | The role of cybersecurity in breaking the digital transformation deadlock “THE UNSPOKEN TRUTH“

Data is growing in both value and volume. That is inspiring businesses to digitally transform, in order to tap the value of data and compete in the changing marketplace. However, digital transformation also exposes data to greater security risks, and cyber criminals are also keen to exploit its value through theft, fraud, ransomware and many other kinds of cyber-attacks. This gets organizations trapped in a “digital deadlock”, which keeps them from successfully transforming. So, how can organizations em¬brace the opportunities of digital transformation, while keeping themselves, their data and their customers protected?

The answer is, naturally, through effective cybersecurity. Yet designing and implementing a security strategy and architecture to meet the needs of the data-driven organization might be more difficult than many realize. Are organizations prepared to meet the security challenges of digital transformation?

Digital transformation brings many security challenges. Whether you are planning your journey or have already started it, this presentation can help you take the next step.

We are living in an era of digital disruption. Multiple industries are being disrupted, or fear being disrupted in the near future. Business models are evolving to cater to the dynamic markets and digital transformation that seems to be the answer to changing business models. Digital transformation is rapidly becoming a key priority in most industries, as organizations adapt to changing markets by leveraging technologies to build IT-centric business models. In general, organizations are using digital transformation to reach their goals of achieving greater agility, improving operational efficiency, improving customer experiences, and developing new revenue streams.
“Speed” is the name of the game now. Customers want services to be delivered seamlessly, quickly and efficiently with minimal human intervention. Technology is maturing to be able to deliver these services online and organizations are restructuring their business to remain relevant in their markets. Customer experience is a primary catalyst for organizations undergoing or planning a business transformation.
When we look at industry-specific examples, we see that governments and public sector organizations are working to re¬design citizen, resident and tourist experiences in transformation-ripe sectors such as transport, public safety, and utilities. Smart parking initiatives, smart meters to improve resource efficiency, and smart video surveillance to improve public safety are typical examples.
In banking and finance, where improving back-office process efficiencies through increased automation is the priority, trans¬formed digital experiences are delivering results; mobile applications are enabling customers to perform fast online trans-actions, while virtual assistants allow customers to use natural language instead of IVR menus. Many sectors, e.g. government services, banking and finance, are pushing for paperless offices, reducing numbers of physical locations and front desk employees to by delivering more services online. Organizations are also striving to reduce time to market for new products or services, improve efficiencies, reduce errors and optimize their operations.

As well as being at different stages in their digital transformation journey, organizations are not all at the same level of digital maturity. Many are able to execute relatively small digital projects within departmental or functional silos; a large proportion of organizations are unable to move beyond these ad hoc digital projects and achieve scale. They are stuck in a “digital deadlock”, which is a common occurrence and is estimated to affect nearly 60% of organizations. The key technology barriers that lead to digital deadlock are:
1. Lacking the agile, secure technology infrastructure
2. Information silos
3. Manual, misaligned, and outdated business processes
Security is a critical component in all these technology barriers, and with this whitepaper our aim is to highlight the role of cyber¬security in digital transformation and to explore how security helps break the deadlock and accelerate organizations’ transformation journeys. And with this whitepaper our aim is to highlight the role of cybersecurity in digital transformation and to explore how security helps break the deadlock and accelerate organizations’ transformation journeys.