Digital Transformation and Security for the Modern BusinessPart 1 – Finance

Digital transformation doesn’t have to mean compromising finance security: the shift to digital can actually reduce the threat to your business

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EY’s 2015 Global Information Security Survey warned that

of businesses worry that the security they have put in place does not fully meet their needs.

88%

Source: http://www.ey.com/GL/en/Services/Advisory/ey-global-information-security-survey-2015-1

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Is the fear of security a barrier to the enormous opportunities of digital transformation for finance functions?

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Process automation improves efficiency, reduces error and frees up

staff for more productive work.

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With data analytics and improved visibility of end-to-end processes, forward-thinking finance leaders can now fine-tune their operating models and work more collaboratively with both internal and external stakeholders.

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But the fear of security breaches is casting a shadow over these benefits. Research from PwC shows that

of companies are more worried about cybersecurity threats today than they were a year ago.

Source: http://www.pwc.com/us/en/increasing-it-effectiveness/cybersecurity.html

76%

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Digitisation gives businesses the means to control data access much more tightly.Using permissions and management rights, businesses can restrict access appropriately. An audit trail helps to track and monitor business activities across the enterprise.

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Digital technologies also incorporate security solutions covering the entire business and its document infrastructure.

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These solutions require user and device authentication, firewalls and other forms of protection to guard

against malicious attackers.

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Data can be encrypted so that even if a breach does occur, the information stolen will not leave the business exposed.

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The best way to secure sensitive data is to do the basics well (like blocking and tackling in football). Understand what is sensitive in

your data, set rules for handling it, implement technical controls to ensure it is actually

handled properly, and educate your users about their role in keeping it safe.

Jonathan Gossels, President, SystemExperts

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Smart companies are putting security issues front and central as they plan their digital transformation, building data security and risk management policies in advance, and communicating best practice to all users.

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Third parties such as Managed Print Service (MPS) providers will deliver important support, in critical areas such as document security policies, to manage the risks of digitisation and process automation.

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In a survey by market research analyst Quocirca,

of companies said security was an important driver for their move to MPS.

75%

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Digital transformation does not have to compromise

finance security.

By putting security at the heart of your digital

transformation strategy you can actually reduce risk.

Put security at the heart of your plans for digitisation.

Key Takeaways

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