To put it into perspective, the cost of financing a cyberattack is only US$34, while the cost to the business affected is much greater, reaching upwards of millions of dollars. The financial implications can be staggering, yet businesses view cyber just as an IT issue. This has prevented organizations from realizing the untapped potential a robust cyber program can offer, halting the innovation it can enable to achieve business objectives.
It’s time business leaders view cyber as an enabler of business growth, which leads to endless possibilities and drives innovation.
As highlighted and explored in a recently launched Deloitte Review article, “Cyber, cyber everywhere: Is your cyber strategy everywhere too?” this shift starts from within. Rather than implementing cyber at the IT level to protect existing systems, businesses must explore ways to incorporate cyber at every level of an organization and across technologies. While likely not the innovation strategy business is used to, incorporating cyber into broader, C-suite strategic initiatives will make it a priority and enabler of digital transformation programs, ultimately fostering innovation and leading to continued growth.