While all facets of the modern business are important, arguably the most important to any retail, manufacturing, or goods-based service is their supply chain. The supply chain serves as the backbone of these companies and has a significant impact on the company’s business strategy which directly affects its operation and operational costs.
Managing cash flow, planning the financial outlay, keeping the balance sheet in order, and ensuring all financial compliances are met are some of the core responsibilities of a CFO. The CFO is also responsible for identifying opportunities to reduce operating costs without sacrificing the quality of the products and services offered by the company.
In some respects, cybersecurity is not that different than protecting your building against fire or flood. For instance, if you choose to construct a building on a floodplain and take no precautions while building, you’re responsible for the damage caused when you get inevitably flooded. Likewise, if you are an apartment owner and neglect to install smoke alarms and sprinklers in the complex, you will not be able to rent the space because it will be deemed unsafe.
In previous posts, I’ve explained how cybercrime is big business (link to post # 1), and the criminals behind the illegal activity run sophisticated online companies. Today, let’s begin talking about how to defend your company against them. We’ll start with the Federal Trade Commission (FTC), the de facto data security and privacy enforcement authority in the United States.
In recent weeks I’ve been talking about the cost to business of cyber theft and the Millennial Mobster. Today’s reality is savvy international businesses make up the majority of cybercriminals. This blog post is the final week of background information before we jump into the practical side of managing your cyber risk in this series called The Anatomy of a Hack.
