Maximizing Your Company’s Digital Risk Management Efforts

In the modern era, there has been a myriad of changes throughout our society that has largely been led by the rise of technology. Tech has increasingly changed the world that we live in for the better, leading to greater cohesion throughout numerous facets, including the economy. Our economy runs on tech in 2021, and it is imperative to understand all aspects of the technological revolution. There are numerous positive elements that corporations have experienced due to the rise of tech; however, one of the negative facets is the growth of digital risk. Digital risk has become a threat to companies of all sizes, which is why they need to learn how to effectively mitigate these risks. This concept, known as digital risk management, is helping to protect businesses from malicious hackers who want to damage their companies for a variety of reasons. There is a multitude of different facets related to digital risk management, and it is imperative to learn about these numerous elements in order to get the greatest protection for your enterprise. 

Digital Risk Explained

In order to fully comprehend the concept of digital risk management, it is first essential to learn exactly what digital risk is. Digital risk can come in a variety of different forms; however, the main driving force behind it is that companies can lose sensitive corporate data, violate privacy laws, and have damaged reputations if they are hacked. There are a variety of different methods that cybercriminals take, including the exploitation of exposed social media, shadow IT, file-sharing sites, code-sharing sites, and much more. There are three main aspects of managing your digital risk, including data loss detection, online brand security, and attack surface reduction. Data loss detection involves determining when your business’ data is being breached; online brand security is about protecting your company’s reputation on social media and other outlets, and attack surface reduction includes decreasing any possible ways that you could be exploited in your IT infrastructure. Understanding these facets is the first step towards learning how to defend against threats.

Defending Against Digital Risk

If you want to ensure that your company is protected from digital risk, then you need to take four main steps to ensure safety. The first step is to identify your critical business assets; this includes figuring out what sensitive data your company has, including people, organizations, and other supporting applications. Next, you need to understand the threats that can harm your business, through tactics like examining behavior, and understanding opportunities available to threat actors. Third, you must monitor for unwanted exposure across numerous platforms, including criminal forums, dark web pages, paste sites, git repositories, and more. Finally, you must take action to protect against digital risk with tactics like operational mitigations, tactical mitigations, and strategic mitigations, all of which help to ensure the safety of your enterprise.

Final Thoughts 

It is critical to learn how to effectively protect your company and manage your business’ digital risk. Understanding the best methods to do so will prove to be imperative for your enterprise.