It is undeniable that the adoption of digital transformation strategies has helped many companies grow exponentially in their respective business areas with operational efficiency. It is no longer a question of competitiveness, but of survival. At the same time, many of them have been exposed to significant risks because they began their processes in a disorganized manner, mainly without considering issues related to information security and privacy.
Worldwide Spending on Digital Transformation is Forecast to Reach Almost $4 Trillion by 2027, According to New IDC Spending Guide.
The advancement and competitiveness of companies in any segment today essentially depends on how integrated and mature they are digitally. At the same time, the development and application of new technologies has been moving at a speed far beyond the pace of cyber and privacy in ensuring the protection of these new resources.
The strategy for adopting and maintaining digital transformation must be designed together with the cyber and privacy teams, otherwise there may be future problems with data breaches, non-conformities and it may even be necessary to regress actions, jeopardizing the goals achieved. This lack of integration invariably occurs among C-Levels, which generates inefficiency in all stages of a company’s digital transformation. Therefore, for companies to survive this challenge and ensure the resilience of their businesses, it is necessary to align security with the core business, integrating it into the organization’s culture.
It is important to remember that many companies have in their strategic digital transformation plans not only the adoption of new technologies, but also acquisitions of other companies, mainly startups, to be able to accelerate their deliveries with a smaller margin of error. And for this to be possible, they end up choosing to use numerous resources from GenAI, Machine Learning, IoT, data analytics, blockchains and adoption of Cloud Computing providers to accelerate their processes. However, this is another Red Flag, as they end up forgetting to carry out Due Diligence processes with third parties to match the minimum acceptable levels of security and privacy. And at this crucial point, once again the cyber and privacy teams must be involved, seeking balance for the benefit of the business. It is important to remember that in the digital transformation process, cyber and privacy are as responsible for the results and existing risks as the business areas.
Among many points that I could mention for an effective journey, I consider the following to be essential:
1. Develop new skills to work with advanced tools and technologies, including creating workforce upskilling and reskilling programs. There is no point in having a strategy and advanced technologies if the human factor cannot handle both.
2. Develop behaviors for an increasingly digital mindset aligned with the pillars of the organizational culture. This is a point that many organizations face resistance to and end up having a turbulent and incomplete journey.
3. Analyze and use data more strategically to make decisions based on reliable and up-to-date information, but without giving up the security of strategic information or data privacy. An organization with a data-driven culture values and uses information and metrics to guide strategies, operations and performance assessments.
4. Increase resilience, risk management and security of operations, ensuring data protection and business continuity in the face of cyber threats. This point needs to be on the front page.
To reduce impacts, it is important to constantly evaluate benchmarks related to your business to reduce the path to be taken and consequently the errors to be made. This will not only allow your company to provide better and more reliable services but will also provide efficiency and satisfaction.
The success of digital transformation can be achieved based on the implementation of solid governance and management mechanisms. This structure involves the creation of forums and committees, definition of monitoring metrics and initiatives focused on people management, changes and partnerships, including external ones.
Don’t forget that the impact of these accelerated changes has led many businesses to either stand out or disappear, so keep in mind that the success of companies that correctly adopt this strategy will be proportional to their efforts.
