Stay up to date with our latest news and insights
Supporting description on the types of content that feature in the blog.
Digital transformation doesn’t have to mean compromising finance security: the shift to digital can actually reduce the threat to your business
Finance leaders know they must embrace digital transformation – and play a lead in it across their enterprises as a whole. Research published by Accenture last year showed that 70% of chief financial officers (CFOs) believe their influence over the execution of transformation initiatives has increased in recent times. A separate report from Adaptive Insights found 70% of CFOs now think data-driven insights are the most crucial inputs in the strategic decisions they make.
So what’s stopping your business from embracing the opportunities afforded by digital transformation? For many companies, the answer is anxiety about the security vulnerabilities that digitisation could expose them to.
We need to remember though that print-based business processes are also vulnerable. Sensitive documents left on desks or in printer trays, or not properly disposed of, are easy pickings. Paperwork taken out of the office can be mislaid. Keeping track of paper documents, as well as controlling access, is also challenging.
It is possible to exploit digital opportunities while simultaneously confronting security concerns – indeed, moving to digital may actually be the best way to protect your enterprise from such risks.
The bottom line is that finance leaders are absolutely right to worry about cyber security. But shying away from digital transformation is not the right response. Instead, focus on the opportunity for your enterprise to release the immense power of digital and to improve finance security at the same time. Finance leaders who recognise this dual imperative will win acceptance for the shift to digital from across the business – not to mention the gratitude of their peers.
Takeaways:
- 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.
