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Cyber-Savvy Boards and the Dependency of Scope of Maneuver and IT Security Architecture

The number of high-profile, massive data breaches and cyberattacks continues to grow at an alarming rate and shows no signs of slowing down. This, of course, often leads to increasingly more complex IT security architectures that can be difficult to understand.

As organizations focus more attention to cybersecurity, they recognize its tremendous risk to the enterprise that inefficient or confusing cybersecurity can bring. Thus, they are becoming more cyber-savvy as they form dedicated committees to discuss cybersecurity matters. These committees are often led by a board member that has security experience, for example, a former CISO or a third-party security consultant.

More Focus on Managing Risks

Cyber-savvy boards are becoming more aware of their cybersecurity risks and the need for managing those risks. Boards are more likely to begin placing increased scrutiny on their CISOs. But there is also the good news that goes along with these higher expectations. CISOs are more likely to see an increase in support and resources to meet the needs for better cybersecurity. However, they will also need to be prepared for the tougher questions and demands that cyber-savvy boards with dedicated cybersecurity committees are more likely to bring to the table.

Plenty of Room for Harnessing Opportunities

Choosing the right open IT architecture is critical to harnessing opportunities for continued growth. There are three very valid reasons why an open and decentralized IT architecture is the right option for many organizations:

  • 1. Reinforces their core by integrating third-party functionality into their architectures
  • 2. Creates new distribution channels, thus bringing opportunities for growth
  • 3. Launches innovative meshes that allows the creation of new disruptive business models with APIs and third-party relationships outside their core operation

A Need to Align Governance and Technology

An open and decentralized IT architecture requires an alignment between governance and technology across its ecosystem. Some of the most successful open-business portfolios encompass a mix of business-branded and third-party services, distribution networks, and independent ventures. Governance is needed to ensure that all elements, especially those that may be in competition with one another “play nice.”

There is often a tendency to manage initiatives that reinforces the organization’s core from within its existing business units. However, to ensure efficient management and oversight of such activities, it is typically a better strategy to put them on a common technology platform. Of course, this presents a challenge for organizations because they need to modernize their application environment. However, by providing more efficient data sharing across the mesh, organizations benefit from:

  • Improved transparency
  • Unlocked commercial opportunities
  • Better support for monitoring and analytics

For an organization to be successful with their strategy for an open IT architecture, they must:

  • Lay out a vision based on their current position
  • Identify and prioritize commercialization opportunities and use cases
  • Define their operating model and technology requirements
  • Develop a clear plan for implementation

A security-savvy board understands there are risks and a lot of hard work needed to implement an open architecture. However, they understand the wealth of opportunities doing so can bring to their organization. By executing well-rounded and far-reaching strategies, it helps build important channels for growth.

An open architecture helps:

  • Strengthen existing offerings
  • Attracts desirable partners
  • Builds disruptive business ventures internal and external to the core business

Organizations need to create the basis for implementing their cybersecurity strategies with a more open, unrestricted IT architecture. This should be a prerequisite to implementing business strategies, especially as more and more are implemented through meshing services across companies. However, they must take precautions to ensure their initiatives include the utmost in cybersecurity.

Utimaco products provide compliant, flexible and innovative solutions, bringing to businesses and critical infrastructures the reliability of an advanced and resilient architecture in compliance with stringent security standards.

For further information, visit Secure Digital Transformation.

Blog post by Dawn Illing

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