It’s a fact of life, enterprises are facing a growing onslaught of risk every day. Risk is everywhere, from the most visible ransomware attacks to the more subtle changing and growing technology landscape that introduces new challenges. According to a recent article, ransomware attacks have already increased by over 93% since the beginning of 2021.
When it comes to risk management in banks, cloud-based computing offers significant advantages. On the other hand, risk managers will have a tough time making the switch from on-premises to the cloud.
Security is a constant concern for businesses large and small, public and private. Data breaches and software supply chain attacks are occurring more and more frequently. A growing gap in the cybersecurity workforce is hampering security efforts in every type of organization. And with the average cost of a data breach currently at $4.24 million, leaders have significant motivation to look for new and innovative ways to mitigate cybersecurity risk in their organizations.
ServiceNow is proud to be named a Leader, for the second consecutive year, in the Gartner 2021 Magic Quadrant for IT Risk Management (ITRM).1 We’re especially pleased that our ability to execute has been recognized with the highest rating of all vendors evaluated. Gartner also named ServiceNow a Leader in the August 2021 IT Vendor Risk Management Tools.
Throughout my career within the compliance and security space, I’ve seen the practice of proactively managing digital risk move from a nice-to-have to a must-have for enterprise organizations. And over the last 5 years, things have shifted drastically. Personally, it reminds me of the classic “Dry Bones” nursery rhyme song that my son loves so much which points out how all the different bones are connected to make one body.
Digital transformation is vital to business today. However, it can increase digital risks, which can take many forms. To help ensure your organization is protected against business disruptions, noncompliance, and errors, you need a robust digital risk management program. Our three-part Managing Digital Risk and Beyond webinar series is designed to help you prepare for, manage, and address digital risks in your organization: Develop a risk management program.
Emergency risk management (ERM) is the process of identifying potential threats and minimizing the impact of disasters on business operations and people. The process requires leaders within an organization to determine how they will keep stakeholders informed and safe during critical events. Leaders must also craft disaster recovery plans to quickly remedy the effects of a catastrophic event on communities, government agencies and organizations.
