When it comes to business risk, one of your greatest area of concern is around your technology. A few of the technology related risks your business is exposed to include:
- Cyber Security Risks
- Governance / Compliance Risks
- Incident Management Risks
- Disaster Recovery Risks
- Business Continuity Risks
- Vendor Risks
- Application Resilience Risks
- Malicious Employee Risks
- Accidental Data Exposure Risks
- Human Failure Risks
"Cyber Crime is the number one global criminal moneymaker"
There are four main options for handling risk:
- Avoidance: Eliminate the cause of the risk so it no longer exists, or is significantly diminished.
- Acceptance: Recognize & document the risk, but take no action. Usually acceptable for small and/or less likely risks.
- Mitigation: Fix the problem causing the risk.
- Transference: transfer the risk onto another party. Insurance and outsourcing are both forms of transference.
Understanding what your risks are is one thing, but knowing how to resolve them is another.
It is impossible to completely eliminate all risks, but it is possible to identify as many of them as possible to measure and monitor the risk in case action may be required in the future.
How We Can Help
As your Fractional CIO, we can:
- Identify key assets to better manage risks.
- Perform risk assessments
- Build incident/disaster plans and lead tabletop exercises with the business
- Identify points of improvement to reduce risk areas.
- Implement programs to reduce human failures
White Clay Technology has years of experience identifying, reducing and mitigating risks. We have managed a number of disasters and know what to look for to help you reduce your risk of experiencing one. Let us see how we can help you.