You know the risk of a cyber incident when it comes to finances or operations. But what happens if your company’s reputation suffers?
A cyber incident can impact your organization in many ways, including financially and operationally. But there’s another impact that companies are concerned about — reputational risk management.
What is reputational risk management?
Reputational risk management is the process of avoiding or mitigating the potential loss of an organization’s character or good name. It’s something more senior executives — from Board members and those on the executive management team down to the CIO and CISO — are increasingly concerned about. And rightfully so! All these individuals want to know their organizations are doing everything they can to avoid a cyber incident that could cause long-term reputational damage.
How cybersecurity and reputational risk management intersect
To mitigate against the risk of a data breach, it’s critical that you continuously monitor your digital ecosystem so you can quickly identify and remediate security incidents as they occur — helping you to prevent reputation-ruining events.
Continuous monitoring programs are powerful tools for doing this. By managing and measuring your cybersecurity performance and that of your third parties in real-time, you can reduce potential reputational risk.
Why your reputational risk management strategy must include continuous monitoring
Below are four benefits of using continuous monitoring as part of your reputational risk management strategy:
- It protects shareholder value
- It protects company value
- It ensures competitive differentiation
- It lowers third-party risk
Download this guide to explore how monitoring security performance can be a powerful tool against reputational harm.