CMR’s CIO Roundtable

 

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With more visibility and vulnerability in today’s business landscape due to social media, online commerce and doing business through mobile devices, it only makes sense that there would be more potential risks to a company’s reputation and brand. In fact, now more than ever, executives are attempting to protect their brands from these security threats by being more proactive and looking for blindspots in their risk management program.Reputation is the reason why people and organizations do business with company. Risk management contributes to improvement of corporate reputation, but much depends on setting the right strategy with corporate-specific framework for a particular company.In today’s digital era, news travels quickly across social media and offers high and immediate visibility to headlines that may affect a brand’s reputation. Product recalls, data breaches, systems failures, poor customer support, compliance failures—it’s all out in the open. As such, reputational risk has become a distinct category within the framework of enterprise risk management. Meanwhile, information technology has a vital role to play in organizations around the world as the driver of the digital era. IT touches all aspects of business operations, communication, customer engagement, and commerce. Risk management is a continuous and iterative process in which you are constantly evaluating your good and bad risks, its probability of occurring and plan what you would do if the risk occurs. If you have not thought about a particular risk and it occurs, then you will immediately switch into a reactive mode and take decisions that you have not thought through. . Risk management is all about being proactive.

Managing IT risk is part of running any business these days. Regardless of the business, understanding IT risk helps increase network security, reduce management costs and achieve greater compliance posture. IT risk can be defined as any threat to your information technology, data, critical systems and business processes.

Failure to identify, assess and mitigate IT risk sets the business up for serious security breaches and financial losses down the road. And those that think managing IT risk is the job solely of the IT staff are in for a big shock.

 

A must attend Forum for:

Our events attract CIOs, CMOs, CEOs, MD, Directors, VP/GM, AVP/AGM from IT and IT/Business decision makers and influencers along with the other Line-of-Business Managers from mid-large enterprises from BFSI and Manufacturing verticals.

 

 

 

 

 

 

 

 

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