Connect with us

E-Business

Taking Enterprise Security to the Board

Published

on

Anton Jacobsz, managing director at Networks Unlimited

It’s that time of year, again, with many companies busying themselves in the art of budgeting and forecasting for 2018.

 

In some companies, this means the Chief Information Security Officer (CISO) having to communicate the importance of including enterprise security in this planning, using a language that the members of the board will understand.

 

“For some, this will mean being given a short amount of time to make sure a group of non-technical people understand the company’s business risks and believe that your plan to mitigate them is comprehensive, necessary and worthy of investment,” said Anton Jacobsz, managing director at Networks Unlimited.

 

“The keyword here is ‘business’ – we have got to translate our on-the-ground security concerns into business terms, risks and outcomes. We’re all very good at listing statistics but the ability to translate this into business outcomes, which is the language your board understands, is what will win the day.

 

“Your board’s time, attention span and ability to consume ‘geek speak’ is limited, but there are steps you can take to ensure the time you spend with them matters,” Jacobsz explained.

 

Time for a few home truths

Is your exco one of the many that thinks their organisation is not going to be of interest to cyber criminals? If yes, then it may be time to explain clearly that every single organisation, regardless of size or business focus, is likely to  experience a cyber security breach at one point or another. The reason for this is data.

 

If your business processes payments of any kind, for example salaries or online payments, or if you transmit or store records, or if you’re developing a cure for a dread disease like cancer, then you have information that a hacker can sell.

 

Ryan Kearney, Executive Vice President of Product Development and Chief Technology Officer of F5 Networks, advised that telling a compelling story about a security breach, preferably in your industry or locale, will help board members understand the risks here.

 

“Give examples from your own company. Identify critical information assets – intellectual property, sensitive customer data – and paint a picture of what would happen and what it would cost if they were compromised,” he said.

 

Use statistics to convince, not just frighten

There are ways to move the statistics conversation from one that leaves exco with a feeling of dread to one where they truly understanding the real potential impact to the enterprise.

 

F5’s Kearney says the following types of statistics could be used to educate and surprise board members:

 

  • 73 percent of companies suffered at least one security breach in the past year.

 

  • About a third of employees targeted for phishing will open fraudulent e-mails.

 

  • More than one in 10 take the bait – and it only takes one.

 

  • Less than two minutes can elapse from the hacker hitting send to your systems being compromised.

 

  • Hackers are inside your organisation, on average, for at least four months before they’re discovered.

 

  • Web apps are the number one entry point for breaches.

 

“As the C-suite leader in charge of cyber defence, it is up to the CISO to explain the impact of this to the board,” says Jacobsz. “This is the point where you should be talking in terms of tangible and intangible losses, which are sure to resonate with them.”

 

Tangible costs as a result of security breaches include fines as a result of breaks in customer SLAs, revenue losses due to downtime, compliance/audit fines, potential legal fees and incident response costs, which incorporate unplanned costs for hiring third party breach experts.

 

Less immediately obvious damage could include issues like the impact a breach could have on your company’s brand; existing and potential customer perception/loss; the loss of your competitive advantage and even the potential for the board’s personal reputation being affected.

 

Introduce security awareness to the company culture

If you talk of such things around the braai, you might have heard somebody complaining about how their company doesn’t allow Dropbox or Wetransfers – how archaic, right? Wrong, said Jacobsz.

 

“These policies are enforced because someone, somewhere along the lines, opened a mail, clicked on a Dropbox link and downloaded a file from an unknown, untrusted source resulting in a cyber security breach. But this can be avoided. A secure business is one where everyone is educated about threats and does their part to reduce risk.”

 

F5’s Kearney agreed, saying it starts with rigorous and repeated training and continues with individual buy in.

 

Furthermore, as a key participant in creating the company culture at the outset, the board members themselves must also be challenged to champion efforts that have no received budget approval, he said.

 

“You have done your homework and secured funds for some of your efforts but if you have risk areas that need addressing but have no budget allocation, board members need to know this and either accept the risk or champion a solution. There’s no better way to get something accomplished than by saying the board requested it get done.”

 

Discuss incident response and cyber insurance

 

As mentioned earlier, the likelihood of organisations remaining untouched by security breaches is minimal. Being prepared is the best line of defence, and employing the services of a good incident response firm is the first step.

 

The second is considering options in cyber insurance, which is the fastest growing insurance in the world and is projected to grow by 300 percent from $2.5 billion today in annual premiums by 2020. Here, show your work and do the maths for your board – calculate how much your business can absorb and insure the rest.

 

“Use your board-facing time wisely,” said Jacobsz.

 

“Make sure you prioritise and focus on the top cyber risks bringing solutions to the table. Above all, demonstrate your burning issues in small, easy to digest chunks. Do this and you and your boards will soon be singing in harmony and protecting the company at the same time.”

 

 

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world.

So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

E-Business

Virtual ‘Hawkers’ Will Soon Send Conventional Shop Owners Packing

Published

on

By Ugwoke Udoka

Stagnancy, well, describes the activities of some shop owners. Moving around in circles and not responsive to the advancement of technology and application of these reforms to their business activities would only mean doom. Hawkers, in this context, virtual are prone to limitless success.

Gone are the days when people scramble to site their shops in the best locations or save up a lot of cash to acquire capital to buy land space and erect structures or even pay a lot of rental fee for shops. People no longer want to go through the stress of paying transportation fares to visit shops, neither do they want to waste too much time walking from department to department in a mall, when a couple of clicks from the comfort of their homes could give them the same desired result and even more. Obviously, rising technology brings a rise in customer’s taste.

Apart from fierce competition coming from mall, honestly, statistics do not favour bricks and mortars shop owners.  A report by BigCommerce.com on ‘Customer location at time of purchase’, shows a quarter of online shoppers (25%) have made an online purchase from a brick-and-mortar store; 43% of online shoppers have made a purchase while in bed; Millennials and Gen Xers are nearly 3x as likely as Baby Boomers and Seniors to have made an online purchase from bed (59% v 21%); 23% of online shoppers have made an online purchase at the office and nearly 3 in 10 (29%) of Millennials and Gen Xers have made a purchase from the office.

The report continued: more than 15% of Baby Boomers and Seniors have made a purchase from the office; 20% of American online shoppers have purchased from the bathroom or while in the car (a +1 for mobile commerce); millennials and Gen Xers are 5x more likely to have made an online purchase from the bathroom (31% v. 6%) than Baby Boomers and Seniors; one in ten customers admitted to buying something online after drinking alcohol; men are more than twice as likely as women to have made a purchase after consuming alcohol (14% to 6%); younger generations are 5x more likely to drink and shop than their older counterparts (15% to 3%) and parents are twice as likely as non-parents to have made an online purchase after drinking (15% v 7%).

As e-commerce platforms in Nigeria move towards maturity, shop owners found in their numerous numbers in Onitsha Main Market, Anambra; Alaba International Market, Lagos state; Ogbette Main Market, Enugu State; Ariaria Market, Abia State; Kurmi Market, Kano State and so many others across Nigeria, should start rethinking.

These e-commerce platforms or the ‘virtual hawkers’ including Jumia, Konga, JiJi, Uber and every other who without shop spaces, uses the digital marketing techniques (technology) to capture the attention of their target audience and deliver quality products and services to them, will eventually send them (shop owners) parking.

Trust me, every business is out to make profit.  As an accountant, I know that profits are made when you reduce the cost of production or increase price. The latter is usually the better option as the former scares the customers to the ever wide-open hands of the competitors.

An article published on THISDAY Newspapers on the 28th August, 2017 by Eromosele Abiodun stated that Nigeria’s E-commerce Market Value would hit #15.5 trillion in ten years, though its current worth is #4.01 trillion. Apparently, the current worth of virtual hawking would triple in the next ten years. Tell me, where would all the shops get their own profit from? Where would all the wealth go?

Who would you think stands a better chance of amassing more customers? A shop owner who spends a lot on land space, electricity bills, adverts and other promotion strategies or a virtual hawker who almost incurs none of these costs? Have you wondered why a lot of shops and malls including Shoprite and SPAR are adopting the technology mode of attracting and retaining customers? They are beginning to take a cue from virtual hawkers and promoting programmes and packages that would not require their malls to be visited by the customer. Looking at the transportation industry, clients no longer have to wait at car parks to get to their destination.

With technology, they get the virtual hawker come pick them at wherever location and take them to their destination at almost the same or a lesser amount than the car owners parks. Transport companies like Peace Mass Transit and God is Good Motors have packages like the online booking system which allows travelers to peruse dates and book tickets with a  couple of clicks. Potentially, this will replace the conventional means of going to the counter to buy tickets and having to struggle with your luggage past the flood of travelers.

Shop owners will continually pay cut-throat taxes to government officials. This has a lot of negative effect on the profitability of the business. Whereas, virtual hawkers do not actually pay as much taxes! Instead they re-invest their profit devoid of tax and continue building their riches while shop owners are muddled up in their mediocrity. Tell me, which would you prefer?

Salvaging this ugly situation lies with the development of applications tailored towards assisting shop owners go online. ICT Editor, Peter Oluka, advises that banks and other financial institutions have key roles to play; especially to encourage more financial inclusion, because it will enhance trust. “If you trust to buy online, potentially you are an online merchant”, Peter adds.

Unfortunately, ignorance is the greatest problem of majority of these bricks and mortars shop owners, and of course it’s not an excuse. There is need for continuous education and sensitization.

In my previous article on ‘the need to ignite technology consciousness in women and girls in the South East’ , I pointed that many females in the stated region are ignorant and continuous education is key; likewise, many shop owners need digital literacy to embrace e-commerce.

 

Ugwoke Peace Udoka, ACA, MNIMN, BSc (Marketing) University of Nigeria, Enugu Campus, 2016. She can be reached via: ugwokepeace@gmail.com

Continue Reading

E-Business

Gartner Says Worldwide PC Shipments Declined 2% in 4Q17

Published

on

Worldwide PC shipments totaled 71.6 million units in the fourth quarter of 2017, a 2 percent decline from the fourth quarter of 2016, according to preliminary results by Gartner, Inc. For the year, 2017 PC shipments surpassed 262.5 million units, a 2.8 percent decline from 2016. It was the 13th consecutive quarter of declining global PC shipments, as well as the sixth year of annual declines. However, Gartner analysts said there were some signs for optimism.

“In the fourth quarter of 2017, there was PC shipment growth in Asia/Pacific, Japan and Latin America. There was only a moderate shipment decline in EMEA,” said Mikako Kitagawa, principal analyst at Gartner. “However, the U.S. market saw a steep decline, which offset the generally positive results in other regions.

“The fourth quarter results confirmed again that PCs are no longer popular holiday gift items. This does not mean that PCs will disappear from households,” Kitagawa said. “Rather, the PC will become a more specialized, purpose-driven device. PC buyers will look for quality and functionality rather than looking for the lowest price, which will increase PC average selling prices (ASPs) and improve profitability in the long run. However, until this point is reached, the market will have to go through the shrinking phase caused by fewer PC users.”

HP Inc. moved into the No. 1 position in the fourth quarter of 2017, as its shipments grew 6.6 percent, and its market share totaled 22.5 percent. The company showed year-over-year growth in all regions, including the challenging U.S. market. For the fourth consecutive quarter, Lenovo experienced a decline in shipments. Lenovo had moderate growth in EMEA and Asia/Pacific, but shipments declined in North America.

Dell’s shipments grew slightly in the fourth quarter of 2017. Dell did well in EMEA, Asia/Pacific and Latin America, but it had weak results in North America. Generally, Dell has put a higher priority on profitability over market share.

PC Market Consolidation in 2017

For the year, worldwide PC shipments totaled 262.5 million units in 2017, a 2.8 percent decrease from 2016. As the PC industry continues to consolidate, the top four vendors in 2017 accounted for 64 percent of global PC shipments. In 2011, the top four vendors accounted for 45 percent of PC shipments.

“The top vendors have taken advantage of their volume operations to lower production costs, pushing small to midsize vendors out of the market,” Kitagawa said.

Continue Reading

E-Business

E-conext Identifies 10 Top Online Courses for Future Jobs

Published

on

The ever-evolving job place, with growing access to the internet has driven E-conext to take a critical look at the nature of work, employment search and online education. The e-learning platform www.e-conext.com recently identified online courses which will help develop new skill sets and alleviate poverty with global opportunities to work from home in companies like Facebook, Amazon in Europe and America while in Nigeria.

Online learning is a form of distance education that uses the internet to promote interaction between students and content, teachers, and other students. E-conext provides top courses ranging from content writing to digital marketing, emotional intelligence, programming, data entry, software development, supply chain, networking and internet security, customer relationship management and safety health.

During an interactive session, Kennedy Ugege, Principal Consultant of Jungu Media and E-conext partner in Nigeria, sheds more light on different courses which are delivered via blogs, podcast, webinars, online chats, discussion boards and virtual study jams:

– Content writing involves producing documents that are suited to the requirements, comprehension level, and background of its readers. The course trains participants how to avoid common writing pitfalls, and structure your writing effectively.

– Digital Marketing provides goals and methods so you can plan the best strategy and mix for different organizations. It surveys a variety of methods and tools for reaching customers at every stage of their decision-making process, with a focus on social media marketing.

– Emotional Intelligence explores the power of emotions and the concept of emotional intelligence via discussions of competencies in the areas of self-awareness, self-management, empathy, and relationship management.

– Programming on various levels of Java Programming for beginners, intermediate and advanced participants. The course is just as helpful for a beginner as it is for systems engineers, web application developers, mobile app developers, software engineers and other potential student with a technical background.

– Data Entry basically teaches the act of entering information into electronic formats by using word processing or data processing software.

– Software Development looks at the common set of methodologies used when creating programs with a variety of programming languages. Here you will explore how to create programs, what decision structures are, and identify the basics of object-oriented programming.

–  Supply Chain demonstrates to consumers the suppliers and sub-contractors that companies engage vis-à-vis favorable human rights practices. The course also sheds more light on corporate social responsibility in this context, confronting exploitation in labor and supply chains against human trafficking activities.

– Networking and Internet Security is the concept of network architecture bringing together network devices, services, models, cabling, topologies and the different WAN technologies to configure network services such as DHCP and DNS.

– Customer Relationship Management helps professional workers find better ways to manage and grow their business while training others to effectively utilize the features of a Free CRM software.

– Health & Safety provides an in depth guide to the responsibilities of employers and employees at work and everyone in the workplace.

The E-conext platform parades a diverse and multinational team of experts across the globe with the central hub in Zurich, Switzerland. The online platform has a software group with over 20 years of industry experience and a client base spanning more than 10 countries on a month-by-month increase.

Continue Reading

Trending

Copyright © 2017 Communication Week Media Limited.