As businesses respond to the rapid spread of the COVID-19 virus, their technology capabilities are being stretched to the limit, increasing organizations’ exposure to an array of existing or emerging technology risks.
Technology risk functions, including all technology roles in the company (CIO, CTO, CISO, IT Risk, IT Audit, etc.), must quickly focus and engage to manage during this dynamic situation, bringing critical value to the business in driving an effective and risk-informed response. Government actions to impose “social distancing” have forced more people than ever to use remote access and alternative working arrangements to do their jobs or transact their personal business. This spike in access to companies’ networks is creating immediate challenges and risks for companies.
Responsibly helping technology teams to resilience, recovery, and a new reality
In managing through the COVID-19 response and beyond, many companies can follow a model resembling “resilience, recovery, and a new reality.” Right now, many are making progress through the “resilience” phase, taking immediate steps to address employee safety and business operational concerns. Soon, companies will recover and stabilize operations around potential ongoing conditions for weeks (if not months) to come. Based upon reliable signals, companies will eventually develop plans and emerge to a new reality of business operations playing a role in the economic rebound.
Discover more on issues and challenges technology risk teams will face as they move through the three stages of resilience, recovery, and a new reality, and recommendations for how they can manage these issues successfully.
Visit the COVID-19 resource center for analysis, insights and perspectives across industries and business functions.
In this article published in InformationWeek, Nicole Lauer, Vivek Mehta, and Josh Galvan reveal guidelines that can help tech risk managers in successfully addressing the many challenges companies are facing today and tomorrow.