1. The company has spent a lot of time focusing on the threats that exist in the cyberspace. Why is this such a big deal for KPMG?
Every business competing in today’s market is undergoing a digital transformation. Customers’ expectations and a multitude of evolving technologies are forcing companies to reorganise their business and operating models. These factors have swayed companies to improve connectivity to their customers through digital channels, which increases the volume of sensitive data accessible on the Internet.
Even though this transformation leads to increased opportunities, it also escalates the cyber-risk profile of the organisation.
In recent years, KPMG has seen a significant increase in cybersecurity incidents affecting companies, governments and other public entities. The majority of these cybersecurity incidents resulted in large financial and reputational losses to the affected organisations, due to their under-preparedness for a cyber-attack.
Analysis of these incidents and CEO surveys conducted by KPMG revealed that organisations need to adopt an extensive approach that views cybersecurity as a strategic issue and not just a tactical problem.