Cyberattacks are increasing, but many departments still treat cybersecurity as a purely IT issue. However, it is managers who have a role to play if companies want to arm themselves effectively against digital threats.
The repercussions of a cyberattack can jeopardize the very existence of the company. The latest Allianz Risk Barometer ranks cyber incidents as the biggest business risk for Swiss companies. Understanding and assessing these risks to the business and deciding how to manage them is an essential task of any management. However, many managers continue to delegate this responsibility to the IT department. A dangerous mistake, because cybersecurity is today a strategic task worthy of being addressed at the highest level of the company.
Cyber risks in the viewfinder
It is the duty of management to anchor cybersecurity in the company’s strategy, to give it more visibility and to raise awareness within the organization. Cyber risks should be regularly placed on the management agenda, so that a basic understanding of the threat and its potential impact on the business is developed. Management must also be able to qualify and quantify cyber risks, to facilitate investment decisions and prioritize cybersecurity measures to be taken.
Taking cyber risks into account in business decisions
Businesses should also integrate and manage IT risks in all major decisions, whether introducing a new technology or entering a new market. Such a proactive approach not only prevents harm but also builds customer trust. In reality, however, awareness of the risks is not yet sufficiently entrenched – this needs to change, and quickly! The damage caused by cyberattacks can be devastating, not only financially, but also in terms of reputation and customer loyalty.
The platform approach and artificial intelligence (AI) are part of the solution.
The lack of qualified personnel is a major problem when it comes to cybersecurity. Companies have many tools at their disposal, but struggle to recruit specialists to manage them. By consolidating complex security architectures into a central platform [SL1] and by leveraging AI-powered tools, businesses can maintain a robust security posture despite limited resources. Not only do they optimize their security measures, but they also have a centralized overview of the current state of cyber risks and their security level. Such a platform thus provides the necessary basis for data-driven communication between IT and management, which can thus make informed decisions.
Conclusion: anchor cybersecurity in the strategy
Protection against digital threats is not a luxury, but an absolute necessity: cybersecurity has its place at the management level. The sooner businesses recognize this and act accordingly, the better prepared they are for the future.
Business
