Cyber insurance to play critical role in businesses
By MYBRANDBOOK
Ajay Yadav
Head- IT & SAP - SBL
Responsibilities of the CIO
We have been investing in technology for many years and it is time to integrate everything from all IT investment which we have made. We have to move to hybrid cloud so that in addition to our own datacenters we can use Cloud which enables us faster in warehouse and dispatch operations. We are basically reconsidering our all IT investment to get the right technology to cater to our business needs. We are also bringing out RFID, CCTV and QR code based solutions for RM, FG and dispatch process and well connected to dealers and vendors partners.
Adopting Work-From Anywhere
COVID-19 induces company’s masse to adopt remote working. This seems, at first sight, to be quite successful, but there are also many signals that productivity and work-life balance are coming under pressure. It will only be a real success if companies start tackling remote working structurally. It is not advised to take a wait-and-see approach, because after the corona crisis, remote working will become the new normal.
Redesigning IT & Security strategy
Regular Patches Updates in end point and firewalls with frequent penetration testing and cyber insurance will play a larger role in cyber plans from ransomware to BEC, the costs of responding to cyberattacks are relentlessly increasing, and 2020 will be the tipping point for cyber insurance. Many companies, especially smaller ones, are learning the hard way as they do not have the resources to mitigate cyberattacks alone.
The role of cyber insurance will play in businesses that cannot be ignored any longer. Cyber insurance is expanding to mitigate losses
that come from anywhere in the supply chain, including outside of it; it does not matter if you have been breached or if your next-door neighbour has been.
Agenda of 2021
The challenge most IT Heads face is that automation, white-collar work must be replaced by robotic process automation (RPA), the growing need of services to support RPA initiatives. We must recognize the right processes to replace with RPA and priorities.
Finding the right talent is always a top concern, finding the right balance of full-time and part-time talent for a company will be key to succeeding in 2021.
Security threats and data privacy is also a concern which is required to make a plan, get it approved and determine the budget to resolve an issue, there’s always a lag.
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