Conspicuous security consumption
January 1, 2019
RESEARCH REPORT
In brief
In brief
- Accenture conducted security research to understand how Consumer Goods and Services (CG&S) organizations can achieve cyber resilience.
- Understanding how to direct security spending to deliver the greatest effectiveness to strengthen customer trust and shareholder value.
- Identifying and prioritizing the high-risk areas to build a more resilient business for a positive impact on a CG&S organizations’ risk posture.
Infusing security
Decades of mergers, acquisitions, or partnerships have left their mark on the CG&S industry. Many companies find themselves with large, decentralized organizational models—opening the door to increased cyber risk. While security executives are spending time and money on protecting traditional IT services and assets, many are not addressing new threats that are emerging internally and across the areas of the value chain—areas which, if breached, could have a material impact on the business.
Business and manufacturing functions are embracing digital technologies, and as their organizations transform, so too must their cybersecurity strategies and how they are handled. It is time to elevate the role of the security executive, from IT security leader to a trusted business enabler. CG&S organizations can build a cyber resilient business—one that can operate effectively despite persistent threats and sophisticated attacks, embrace disruption safely, strengthen customer trust and boost shareholder value.
Related: Accenture Security CG&S Cyber Resilience
Defending attacks
Organizations are investing in cybersecurity on an unprecedented scale—but current spending priorities show that much of this is misdirected toward security capabilities that fail to deliver the greatest efficiency and effectiveness. Often security executives do not have either the visibility into the non-IT asset landscape, nor the authority to impact risk outcomes in these areas of the business, despite having a broad risk-reporting responsibility. CISOs need “a seat at the table” during business planning, strategy and design processes to inform decisions, de-risk innovation challenges, and build a more resilient business.
Secure the journey to cloud
Rather than simply moving assets “as-is” to the cloud, organizations need to see this as a chance to review risk and prioritize security around their core assets.
Build trust in direct-to-customer initiatives
A well-articulated security discipline can aid in building market trust by advising how the business can enable customers to be informed while protecting themselves.
Manage operational technology risk
As OT networks become less isolated from IT networks, vulnerabilities grow. Security executives then have a unique set of challenges moving attention from the IT to the OT environment.
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Being resilient
1. Organize
Establish visibility and influence on business outcomes, rather than solely on IT outcomes. Institute mandatory security checkpoints to anticipate or identify new risks before they can arise.
2. Identify
Understand and account for existing assets across the organization and determine risk-based priorities. Do not underestimate the amount of digital assets that may reside outside of control and influence.
3. Invest
Become brilliant at the basics by tackling security hygiene and risk management programs. Provide stakeholders with the appropriate tools to understand and mitigate risk.
4. Institutionalize
Embed security disciplines that address today’s needs and have the potential to serve tomorrow’s demands. Make security part of the innovation, engineering, business planning, and procurement processes.
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