More than 90 percent of surveyed senior business leaders agree that strong technology governance contributes to improved business outcomes and increased agility, according to ISACA’s latest research, “Better Tech Governance Is Better for Business.” Despite recognizing the link between governance and outcomes, a governance gap still exists, with 69 percent reporting that their leadership and board of director teams need to establish a clearer link between business and IT goals.
The global findings were released at CSX 2017 North America, a Cybersecurity Nexus (CSX) conference held in Washington D.C. The data delves into corporate governance of all things digital, increased responsibilities and funding priorities as well as asking if boardrooms are doing all they can to plan, train, fund and safeguard their organization’s digital assets. The research summary, related infographic and additional resources can be found here.
“The boardroom must become hyper-vigilant in ensuring a tight linkage between business goals and IT goals, fully leveraging business technology to improve business outcomes while diligently safeguarding the organization’s digital assets,” said Matt Loeb, CEO of ISACA. “The message from our research is clear: there is much work to do in information and technology governance. Committing to a boardroom with technology savvy and experience strongly represented provides the needed foundation for organizations to effectively and securely innovate through technology.”
Research Highlights - Cyber Security
Not all executive teams and boards walk the walk in matters of digital security. Data shows:
As a part of overall governance, cyber security policies and defenses were cited as the number one corporate governance technological challenge and opportunity faced by senior leadership teams globally. Yet:
Many leadership teams are prioritizing and increasing funding for cyber security and risk management programs:
Leadership teams recognize that internal cyber threats are as real as external ones:
Despite the widely recognized importance of cyber security, most organizations are not planning to increase funding for training over the next year:
The majority of organizations are using some type of governance framework to help address areas like cyber security and risk:
Privacy and GDPR
Related to privacy, there is still work to be done to prepare for the EU General Data Protection Regulation (GDPR). Specifically, among organizations affected by GDPR:
Leading in Business Technology Governance
In ISACA’s research, respondents were asked to name organizations whose boards they perceive to be doing an exemplary job of business technology governance. Of the more than 150 organizations noted, Microsoft, Google and IBM were most often cited as leading by example.
In addition, at companies like Sydney, Australia-based financial products and services organization Tyro, governance is already paying off. “Business decisions at Tyro are aligned with technology-based solutions, leveraging technological and governance components to improve Tyro’s overall resilience and confidence in its technology and product stack,” said Sascha Hess, director of operations at Tyro Payments Ltd. “Aligning business and technology decisions has created a culture where leaders and team members alike have already clearly seen advancements toward our overall business results.”
Subscribe to our newsletter for all the latest updates and special offers.
Click Here To view archive additions