Every business, whether large or small, must take action to reduce its risk footprint and mitigate the impact should a cyber attack occur. No one is immune to an attack in today’s digital world.

The Internet of Things (IoT) continues to grow, and so too has its vulnerability to an attack. Just last year, a major DDoS attack was launched using known vulnerabilities of connected devices. So, while IoT has significant benefits for business efficiency and competitive edge, there are risks that must be addressed as part of a comprehensive cybersecurity plan.

Similarly, cloud adoption is growing. As the digital economy matures, the opportunities to use the cloud are accelerating. It is now not a case of when, but how much organisations choose to move to the cloud. We know security perimeters have shifted and, to establish and maintain business resilience, businesses are therefore faced with adapting their approach to security.

And then there is the EU General Data Protection Regulation (GDPR), which we previously reported as bringing significant implications – not just for EU-based organisations, but also for those that are located outside of Europe yet hold data on employees and customers in Europe.

Research suggests that many remain behind the curve in assessing the risks and opportunities of GDPR. Our recent Risk:Value research recently revealed that less than half of global executives believe GDPR compliance is relevant to their business, while a fifth admit they don’t know. This suggests that many businesses do not have clear visibility, understanding and control over the personal data they process and its movement across multiple locations. And this lack of engagement is a BIG risk. With eye-watering fines and requirements for notification that will push more breaches into the public view, GDPR WILL make data privacy a central theme for organisations and this needs a clear focus.

The bottom line is that, while the digital economy provides huge opportunities for businesses around the globe, the associated risks must be managed in an integrated way to ensure business resilience. Digital transformation and risk management must go hand in hand.

And this is how we help. NTT Security is the specialised security company of NTT Group and, in partnership with NTT Communications, NTT DATA and Dimension Data, we deliver solutions to address the business challenges that a changing cyber landscape creates.