How boards can enable trust, security and compliance in the digital enterprise: all you need to know

Johanna Winqvist

Johanna Winqvist

Microsoft, Modern Workplace

Read Time, 3 min.

In a world where data and technology and are dramatically reshaping business models, trust is more than ever determining companies’ success. However, many Board members and leaders are only just starting to recognize it – and often lack a clear strategy to enable it.

Commissioned by Microsoft and developed by EY, our eBook is all about addressing these challenges. Titled How boards can enable trust, security and compliance in the digital enterprise, it’s here to help you navigate the trust agenda. We’ve packed it with insights, expert advice and case studies. All to help you drive business value with your cybersecurity, compliance and data privacy strategies.

Below, we look at why boards and leadership members should focus more on trust.

Digital transformation and remote work security are bringing new pressures

The past two years have seen a sharp increase in tech investment all around the world, jointly driven by new hybrid working habits and a strive for greater customer engagement.

Indeed, a recent survey has found that 69% of responding companies have accelerated their digital business initiatives after the pandemic.

This is helping many organizations to drive efficiencies, but it’s also exposing them to new and additional threats.

In 2020, cybercrime cost the global economy some $945b. That’s why it’s estimated that more that 50% of all technology spending will be used for digital transformation by 2024.

Country and sector differences exacerbate the problem

Adding to these trends, we see increasingly large discrepancies arising at both a country- and industry-level with regards to trust and compliance.

Different countries seem to have varying levels of regulatory maturity, which is leaving some companies more exposed than others.  Organizations’ different approaches to GDPR regulations is a prime example. While Western companies are constantly evolving to address it, other regions currently have less stringent requirements – bringing further compliance and security threats.

Countries also differ when it comes to perceived confidence in cybersecurity measures. A recent survey has found 59% of Swiss and only 20% of Italian cybersecurity experts feel confident in their risk mitigation and security strategies.

A paradigm shift is required

Figures show that even among boards with highly effective risk management capabilities, only 23% of board time is usually reserved to discussing atypical and emerging risks.

As more pressures and challenges arise, leaders must embed trust into their stakeholder ecosystem, and incorporate it in all aspects of the business. Key to achieving this will be placing more confidence in CISOs, and better involve them in the creation of risk mitigation measures.

Looking ahead, investment in privacy, security and compliance technologies – as well as the adoption of a zero-trust and trust by design approach – will play a crucial role in attracting and retaining customers, building further relationships and driving value.

Five steps Board members can take to embed trust in their business

Embracing trust is often easier than you imagine. In our report, we’ve outlined five key steps Board members and leaders can take to implement trust strategies. From assuring commitment to adopting the relevant tools, they’re the perfect way to get started – and ultimately set your organization up for success.

Drive new value for your business. With trust at the heart. Download our report for free.

Explore trends, advice and insights on the importance of trust, security and compliance at your organization – and how to embrace.

Discover more related articles per industry:

Education

  • a woman using a laptop

    Make remote learning work better for everyone. Find out how.

    Since the COVID-19 outbreak first hit China, our education customers in the country have done amazing things to keep students engaged while they transition to remote learning. From eLearning innovations, to keeping students’ spirits high with photo and cooking challenges – teachers and students have shown extraordinary resilience during this difficult time. Now, as the […]

  • a young boy using a laptop computer

    Escolaglobal: a digital-first school for blended classroom and remote learning

    “This weekend, our preschool teachers created another video for the students – just saying hi and checking everyone was ok at home. Each teacher has their own Microsoft Stream channel, and the feedback from the kids and parents is amazing: “Hi, teacher! How are you? I remember you so well!” Nuno Moutinho, CEO of Portuguese […]

Government

  • How VR Group is using automation to secure Finland’s railways

    How VR Group is using automation to secure Finland’s railways

    “Being at the helm of a critical piece of infrastructure, we have a huge responsibility towards our partners and clients. That’s why safety and security are crucial elements of what we do and how we operate.” Mikke Maronen, CISO at Finnish railway company VR Group, is talking about the importance of protecting his business from […]

  • a man and two women standing in front of a brick building

    Ajuntament de Lleida: transforming the public sector with a modern, virtual workplace

    “At Ajuntament de Lleida, we think differently. We embrace new technology. And when we see that it could add real value to the work we do, we find a way to make it happen.” Carles GinéSabaté, Systems Implementation Planning Manager at Ajuntament de Lleida, is reflecting on his organization’s open-armed approach to digital transformation and […]

Healthcare

  • logo

    Why trust is the essential ingredient in healthcare digital transformation.

    My phone had scarcely stopped ringing for weeks. Now it was ringing again. “Veronica,” said the voice at the other end, “we have an idea!” Immediately, I recognized who it was. I’ve known Carlo Tacchetti for almost as long as I’ve been at Microsoft. He’s a professor at the Vita-Salute San Raffaele University and the […]

  • a woman standing in front of a screen

    Istituto Neurologico Carlo Besta: providing essential patient care from a distance

    “Telehealth was a technology we’d been planning to implement for a couple of years. But then almost overnight everything changed – it became a must-have platform the hospital needed today.” Francesca De Giorgi, CIO of Italian research hospital IRCCS Carlo Besta, reflects on the recent challenges her team faced when social distancing measures imposed by […]

Manufacturing

  • Mais on a sunny day

    COFCO International: How cloud technologies ensured business continuity during challenging times

    “I have worked at COFCO for 12 years, always in an office. But I have spent the last 63 days working from home.” Marcus Seelbach, Chief HR Officer at global agribusiness COFCO International, is talking from his home via video call about the transition he and all his colleagues have undergone since COVID-19 led to the closure of the company’s offices worldwide. “But thanks to the preparation and […]

  • a woman smiling for the camera

    Etex Group: Future-proofing employees to work anywhere across the world

    When COVID-19 spread across Europe in early 2020, businesses entered a new digitally-dependent age. Social distancing measures had asked offices of all shapes and sizes to close their doors, sparking organizations to quickly find other virtual ways for colleagues to meet and collaborate remotely. But for Belgium building material specialist Etex, this was a step they were ready for – having already implemented a cloud-based infrastructure and collaboration tools […]

Retail

Discover more related articles per dossier:

Customer Stories

  • a person preparing food in a kitchen

    Humanitas-DMH: empowering key workers with a secure digital support

    “Our goal is to create an environment where people with mental disabilities can feel safe, secure and happy.” Marcella van Kraaij, Digital Transformation Advisor at Dutch healthcare provider Humanitas-DMH, is discussing her organization’s key objectives – and how the technology her team recently adopted is helping it to achieve them. Every day, the carers and […]

Digital Transformation

Security & Privacy

Tips