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The hidden costs of shadow IT: How unsanctioned tech impacts your budget

Online Computers

In 2013, thieves stole two laptops from Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ), the state’s largest healthcare provider. Using unauthorized laptops illustrates the hazards of shadow IT within a company. Compliance issues Industries such as healthcare or finance have strict regulations regarding data handling.

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Strategies for Digital Risk Protection

Reciprocity

Digital risk protection (DRP) refers to cybersecurity measures that aim to prevent data breaches, malware, identity theft, and other forms of cyber crime. Any hazards associated with cloud architectural changes, the use of new platforms such as IoT devices, or new IT systems can lead to digital risk. What is Digital Risk Protection?

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Risk Assessment vs Risk Analysis

Reciprocity

Various types of hazards must be considered. After identifying hazards and risks, consider how they are harmful and the possible outcomes. This means that risks presenting a higher threat must receive more comprehensive control measures than lower-risk hazards. Economic risk. Operational risk. Third-party risk. Quality risk.