The past two years have seen many organizations’ risk management programs playing catch-up. Companies accelerated their digital transformation to accommodate a newly hybrid workforce, shifts in customer expectations and the need to make their supply chains more resilient to disruption without full security and risk assessments. Bad actors quickly seized upon the situation, upping the size, frequency and sophistication of attacks.
Now would be a great time to pause and develop a proactive, digital-first risk management strategy that coordinates compliance, cybersecurity and risk management, automates identification, detection and response, and provides always-on risk monitoring.
In this guide, we’ll review the three-stage process – plan, execute and report – for developing and implementing a risk management strategy. We’ll break these stages down into a concrete action plan with a special emphasis on automation to ensure threats are quickly identified and neutralized.