Businesses today are rapidly shifting towards digital transformation and this move is giving them opportunities to gain a huge return on investment (ROI). Since they aim to keep pace with the rapidly evolving digital economy, many are revamping their internal departments, hiring criteria and the processes to develop and disseminate products, with the comprehensive objective of becoming more versed at quickly retorting to new opportunities in the market. With this evolving face of the industry, they require security approach to stand at their customers’ satisfaction. So, for this, cybersecurity has made its presence and is becoming an essential part of today’s evolving digital business models. Its scope is exponentially expanding and becoming ‘digital security’.

Though, the complexity to accomplish robust, enterprise-wide cybersecurity posture is troublesome not only because cyber threats continue to rise and become sophisticated, but also the escalating footprint of data in the enterprise. Data nowadays is the backbone, new oil and everything both for online and offline enterprises, but the need to leverage it properly is becoming most essential. Hence, modern cloud platforms offer enterprises a wide range of options of data storage and protection that can dramatically improve scalability and flexibility.

While organizations continue to expand their digital footprint, the risks associated with the digital business are also increasing in quantity and complexity and the need to provide continuously available services to customers requires them to become more reliable and more resilient. That is the reason the security teams in an organization shouldn’t look at themselves as the sole implementer and enforcer of security practices, but rather spread security awareness and adoption of clear policies with their colleagues as an ongoing, sustained point of emphasis.

In an ISACA research, over 8 out of 10 respondents reported that establishing a stronger culture of cybersecurity would boost their organization’s profitability, and this will only become more on-target as organizations increasingly embrace digital business models.

Since an organization promises to deliver the value of the digital business to customers, it has typically been seen that security officials are not at the table when critical decisions are being made. As a result, businesses arrest in critical risks that lead damage to them. So, it is increasingly vital to embed security solutions and processes into the very fabric of the business and to secure their digital assets in order to ease the risks.

Safety and security also become an issue within the intersection of technology and the physical world. So, to address these risks to adequate levels, solid shifts in culture, behaviour, and technology would be essential.

With the increasing adoption of digital technologies, every facet of the digital business has significant cybersecurity implications. And, at the core of it, decision-making is essential that proves which information risks to accept and how to mitigate them. In past days, the security teams and their business partners used to make cyber risk-management decisions by blending the expertise, intuition, judgment, and qualitative analysis. But in today’s digital enterprises, the number of assets and processes to protect, and the declining pragmatism and efficacy of one-size-fits-all protections, have radically condensed the materiality of traditional decision-making processes and techniques.

In turn, some of the world’s most sophisticated cybersecurity functions are rolled out to transform their capabilities by embracing the quantitative risk analytics for decision-making, building cybersecurity into the business value chain, and enabling the new technology operating platforms that incorporate innovations.

So, cybersecurity, along with compliance and data usage, eventually has become a key strategic priority in evolving digital business models. And, enterprises need to continuously rethink their business to address new digital needs of their customers and to stay on top of disruptive competitors in the fast-evolving digital world.