Insight

Navigating the risks of IoT with an effective governance model

Navigating the risks of IoT with an effective governance model

There simply isn’t much guidance for organizations to follow about protecting the internet of things (IoT). While certain trade and sector groups have published best practice guides or created security frameworks, most business leaders find these recommendations difficult to apply in their own companies—especially those in highly regulated industries like healthcare and automotive.

In our recent report—Enduring the IoT storm to unlock new paths to value—we discuss how an effective governance model helps protect you from the many risks associated with IoT. A strong and responsive governance foundation allows organizations to reasonably harness and unleash innovation to create new paths to value.

In our experience, we have learned that all effective IoT governance functions—regardless of how they are established—play an instrumental role in critical activities focused around building consumer trust and driving desired business outcomes. Successful IoT governance functions…

  • Are strategic. They shape the overall direction and goals of the IoT program.
  • Empower collaboration. They enable cooperation and teamwork between cross-functional stakeholders.
  • Drive consistency. They promote process standardization and reliability to increase ROI.
  • Provide guidance. They share best practices for IoT development and implementation.
  • Mitigate risk. They establish controls and define key metrics and indicators to monitor and optimize business outcomes.

The IoT governance function will be integral in helping to navigate the strategic, delivery and operational risks of IoT, so the program can stay on track and deliver long-term value. For more information on the risks of IoT download the full report here.