Top Risk Management Trends for 2022 That Entrepreneurs Must be Aware Of

by Mohammad Asif Content Writer

The digitization of the world has brought about new challenges to businesses. Lots of businesses, which earlier functioned out of the brick and mortar modes or physical modes, are being forced to establish a digital footprint. These businesses have to undergo digital transformation for business. This isn't an easy process. In addition, digital transformation for business is bringing about new challenges for entrepreneurs. While the businesses were earlier aware of different types of risks pertaining to the brick and mortar businesses, they have to face digital risks these days. For this, while going for digital transformation for business, entrepreneurs also have to think about using digital risk management solutions.

Therefore, if you’re planning to go for digital transformation for business in 2022, you must have a proper idea about the current security and risk management trends.

Here’s a quick look at the risk management trends for 2022 that every business owner who are looking to go for digital transformation for business must be aware of.

Ways to Mitigate Surface Risks

Organizations going for digital transformation for business use various technologies, such as cloud applications, digital supply chains that are really complex, open-source codes, Internet of Things (IoT), or even social media. By using these technologies, these businesses are often exposing the surfaces to digital risks. These surface risks cannot be mitigated easily. For this, it is necessary for businesses to go for External Attack Surface Management (EASM) technologies as well as Cyber Attack Surface Management (CAASM). Only then the businesses can remain secure.

Identity and Threat Detection Response Tools in Focus

A large number of cyber security threats these days come in the form of credential misuse. This is done by the creators of these external threats, who target identity and access management infrastructure of a business.

One of the best ways to fight these attacks is by utilizing identity and threat detection response (ITDR).

Businesses are expected to utilize various types of ITDR tools to protect the identity of various systems. These tools can even detect any attack on the identity and access management infrastructure and find out when there is a compromise. They can even undertake necessary steps to remediate the effect of the attack.

Resilience-based Approach to Fight Digital Supply Chain Risks

With every passing day, the attack on software supply chain is becoming increasingly common. This is expected to increase in future as well. To fight this kind of attack perpetrated by the cybercriminals, business owners have to think about something unique.

In 2022, entrepreneurs are expected to mitigate these issues by requesting evidence of security controls. Besides, they have to follow the best practices to use a resilience-based approach.

Distributing Decisions Related to Cyber Security

These days, digital businesses are becoming increasingly complex. Therefore, it's no wonder that the complexity of cyber threats is also on the rise. One of the best ways to fight this is to distribute the decisions, responsibilities as well as accountabilities related to cyber security in the organization. This is a better approach than having every cyber security action centralized, as this reduces the risks of your business falling to cyber attacks.

Conclusion

Businesses need to keep these top risk management trends in mind to design the perfect way to fight cyber threats and attacks.