COVID-19 changed our day-to-day lives. As customers and employees, we’ve quickly become used to using virtual and digital services in nearly every part of our daily routines. And for many business leaders, they quickly transformed their business models, pivoted to digital channels and accelerated already planned technology rollouts (such as the move to cloud).
But in the flurry of accelerated transformations and agile implementations, organizations may have introduced vulnerabilities and exposed themselves to a growing number of risks across their business.
What’s more, since COVID-19, there’s been a seemingly never-ending stream of organized cyber-crime groups ready to exploit potential weak spots in new and old systems, including ruthlessly playing on uncertainties and fears over the virus.
The pandemic has brought with it the realization that some organizations weren’t as secure as we thought — and KPMG’s recent Global Digital Transformation Survey* highlights how leaders increasingly see business protection as a priority issue and area for investment. Three-quarters of organizations say that increased security risk is an organizational priority following COVID-19 over the next six to 12 months, and two-thirds plan to increase their investments in data security over the next year. In both instances, they were ranked as the number one choices.*
In the past, it was common that organizations perceived their security functions to be obstacles to progress. This perception should be put to rest. With digital journeys happening faster than ever before — and 63 percent put creating intelligent and agile services and technologies as a top priority* — I hope to inspire organizations to embrace security as an enabler.
I’ve seen organizations succeed in taking on this challenge, and the best leaders are pragmatists. They not only treat cyber security as a key to their future success, but also look to engender client and customer trust in their cyber resilience, in their protection of sensitive data and in the transparency of their approach.
In a dynamic global risk environment, organizations should make sure they’re best positioned to succeed in the new reality. Looking ahead, if you’re looking to invest in business protection, there are a few things to consider with an eye on trust and growth:
Ultimately, cyber security has the possibility to support and build lasting trust between people and organizations. KPMG firms can help you create a resilient and trusted digital world — even in the face of evolving threats. That’s because they bring a combination of technological expertise, deep business knowledge, and creative professionals who are passionate about helping to protect and build your business. Together, let’s create a trusted digital world, so you can push the limits of what’s possible.
* Source: A commissioned study conducted by Forrester Consulting on behalf of KPMG, April 2021.