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Your business is global, it’s complex

What are the risks and how can they be simplified?

When it comes to risk management, many businesses have an array of concerns leading to compromised approaches such as inconsistent processes of third party controls, implying that third party risk management is inadequate. Policy compliance and financial exposure are among the top concerns for many businesses, with ~70% highlighting these areas as priorities on their risk registers. Security awareness, regulatory compliance and financial risk/fraud are other factors concerning over ~60% of the professionals interviewed as part of the study. What are your organisational risks and what are you doing to ensure that these are part of your senior level board meetings?

“Every interaction between security and the board is framed in terms of risk. It informs every decision we make, including vendor selection. It is all presented through a traffic-light scoring system.” - CISO of a European pharmaceutical company

Numbers behind the research

IDC conducted a survey of 120 executives from IT, finance, operations, IT, and cybersecurity at organizations with 500 to 10,000 employees headquartered in the U.K. with multiple offices across the globe. This was backed up by additional in-depth interviews with executives across the four roles to gather additional insights and real-life experiences.

The goal was to understand the strategic and business priorities and objectives of the global midmarket, across different functions, and how technology is used to achieve these objectives, and to understand their IT pain points and how centralization and third-party management service providers can help.

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