Complete guide to digital risk management.

Protect your business with an integrated cyber risk management strategy.

Protect your business with digital risk management in an integrated cyber risk management strategy.

Most companies depend on regular internet access in one way or another, whether it’s to check customers out at a POS system in a store or to help provide online support. Most companies could not even imagine going a single day without internet access. At the same time, this internet access also makes companies more vulnerable. After all, if employees and staff are able to access the organization’s networks and servers from just about anywhere, hackers and criminals can do the same if given the opportunity. This is where digital risk management comes in.

Digital risk management refers to the process of managing and reducing the risk organizations face as they undergo digital transformation. Companies are able to manage their digital risk by adopting new practices and technologies that reduce the chance that data could fall into the wrong hands. Digital risk refers to adverse outcomes that companies might experience if they do not take care of their digital information by prioritizing security and protection. Some of the biggest digital transformation risks include:

Secure for the known, insure for the unknown

Your destination may be achieving compliance in industry certifications such as SOC2 or ISO27001, but it doesn’t stop there. With Trava, our modern tools can help you bridge the gap between where you are and where you want to be by giving you the control to assess your risk, repair the most vulnerable areas, and transfer risk through insurance.

Digital Risk Management Software

Feeling overwhelmed by the sheer number of digital risks that businesses can face? The good news is that there are software programs that can make the digital risk management process easier. The goal of enterprise risk management software is to provide companies with the tools and information that companies need to plan for, measure, and reduce their risks. While there are plenty of free risk management software options, risk management software should be viewed as an investment in the future of the company. Before making a commitment to one software tool over another, businesses should conduct a risk management software comparison to determine which solution best fits their needs. Many major risk management software solutions include features that facilitate:

Some of the ways that risk management software might accomplish these tasks include:

Depending on your company’s industry or clients, you may need to consider specialized risk management software. In highly regulated industries, financial risk management software or insurance risk management software may be more beneficial than a one-size-fits-all approach.

Looking for your own digital risk management solution? Try Trava to help you assess, mitigate, and transfer your cyber risk.

Digital Risk Assessment

In order for companies to protect themselves, they need to conduct a digital risk assessment. It is helpful to use a digital risk assessment template to review the risks of digital technology and see how they fit into a digital risk management framework. By using a cyber security risk assessment report sample, companies can build a digital risk framework around an information security risk assessment checklist, ensuring that their information is protected from harm. When building an IT risk assessment template, a few of the most important factors to consider include:

These are a few of the most important parts of common free IT risk assessment templates. This can go a long way toward building a strong digital risk assessment framework.

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Digital Risk Management Jobs

For those who are looking to learn more about digital risk management, there are plenty of jobs available in this sphere as well. It is helpful for people to complete a digital risk management course if they would like to compete for digital risk management jobs. Some of the most common degrees that people in this field have include:

Those who want to strengthen their application might also want to invest in an extra risk management certification such as:

The Institute of Risk Management can also provide resources on the best risk management certification, job outlook information, and training. Those who specialize in digital risk management can compete for a number of jobs. These include:

These are a few of the top examples of digital risk management in action. This is a rapidly growing field with plenty of opportunities for advancement for those with the right qualifications and experience.

Gartner Digital Risk Management

For those who are looking to learn more about digital risk management, Gartner is one of the largest research companies in this space. Gartner has collected a wide array of information on cyber security, IT risk management, and more. When looking at Gartner’s security research categories, the majority of their content is around:

For businesses that are looking to take care of their digital risk management today, it is important to look at some of the major risks that Gartner has identified, including Gartner cloud risk. Some of the biggest risks include:

One interesting and particularly pertinent piece of research from Gartner is on risk-based authentication. There are a number of major steps that companies can take to improve their digital risk management. These include:

These steps can go a long way toward improving the safety of organizations and businesses when it comes to digital risk management.