Concentration Risk is the new Vendor Lock-In
Today, more enterprises are reaping the benefits of advancements in technology such as the cloud, machine learning, and data science. Despite this, the age of digital transformation has meant that cyber crime now poses a constant threat to digital organisations.
The age of digital transformation
As more enterprises become increasingly digital, new advances are continually shaping how we work and live. This technological disruption also has the potential to introduce a wealth of system vulnerabilities, however.
While many organisations are already digital, Accenture suggests that the initial process of digital transformation is nearing its conclusion. Indeed, digital technology is now so ubiquitous in the enterprise that it is essential to operating.
According to Accenture, we are entering a "post-digital" era where businesses need to deliver against individual customer demand in real time. While the age of digital transformation presents many opportunities, it also brings a set of significant challenges.
For digital enterprises, security is one of the most pressing issues. In order to understand this intersection between the age of digital transformation and cybersecurity, Nominet analysed the opinions, behaviours, and mindsets of cybersecurity leads at large companies in the US and the UK.
Digital transformation and cybersecurity
According to Nominet's findings, 31% of senior security professionals report that security receives 11-15% of digital transformation budgets. Nevertheless, 55% of respondents said that customers and partners query the robustness of their security stack.
The research also found that IT predominantly lead digital transformation within enterprises. As a result, Nominet insisted that there is an urgent need for board level decision makers to receive "more education" in order to support transformation initiatives.
Nominet also stated that enterprises should consider cybersecurity at the earliest possible stages of digital transformation initiatives. Finally, the company recommends that security teams seek advice from a range of vendors and analysts to ensure a "comprehensive security solution."
What does the future of digital transformation look like? Listen to our podcast with Antonio Grasso, CEO of Digital Business Innovation, to find out