Technology Risk Management in Business
Key Aspects of Technology Risk Management
About Technology Risk Management
Secure business continuity with Technology Risk Management (TRM), addressing shadow IT, legacy system vulnerabilities, & ensuring software & hardware integrity.
Technology is a double-edged sword for businesses. It empowers innovation and efficiency, but it also introduces new risks. Technology Risk Management (TRM) helps organizations identify, assess, and mitigate these risks, ensuring they leverage technology securely and effectively.
Curbing Shadow IT Risks
A business technology standard encourages innovation and empowers employees to leverage new technologies. However, this freedom leads to the proliferation of unauthorized software (shadow IT), creating security risks and compatibility issues.
Upgrading Legacy Systems
A manufacturing company relies on critical legacy systems for production processes. However, these outdated systems are prone to failures and security vulnerabilities. Upgrading them carries the risk of downtime and disruption to operations.
Managing IT Integration During Mergers
Two companies with different IT infrastructures are merging. Integrating their systems poses challenges and potential security risks.
End of Life(EOL) Software
It's important to stay informed about the EOL status of the software you use. Many vendors announce EOL dates well in advance to give users time to plan for migration or upgrades.
Mitigating Software Vulnerabilities
By understanding software vulnerabilities and implementing appropriate safeguards, organizations and individuals can minimize the risk of cyberattacks and protect their valuable data.
Addressing Aged Hardware Risks
The decision to replace aged hardware depends on several factors, including budget, performance needs, and security risks. It's important to weigh the costs of upgrading against the potential consequences of continuing to use outdated equipment.
Ensuring Security and Compliance
By implementing strong security practices and adhering to relevant regulations, organizations can protect their valuable data, maintain user trust, and operate within the legal boundaries.