Your reputation is tied to revenue. Your risk is tied to resilience.
The next disruption to your enterprise isn’t a matter of “if” but “when.” In 2012, it was estimated that US$140 billion in economic losses were caused by natural catastrophes and man-made disasters. That year, the top five most expensive disasters all occurred in the US. And each of those has worldwide repercussions to the marketplace.
Resiliency is your company’s ability to protect people, assets, data and technology through proactive measures that help mitigate risk. But it’s more than just natural disasters.
Reputational damage caused by IT failures such as data breaches, systems failures and data loss now has a price tag. According to analyses performed by the Ponemon Institute, the economic value of a company’s reputation declines an average of 21 percent as a result of an IT breach of customer data — or the equivalent of an average of US $332 million.
The question is not whether IT risks affect your corporate reputation, but what you can do to effectively prevent and mitigate these risks.The ability to withstand and recover is the ultimate competitive advantage: survive disruptions that your competitors cannot.
More than 600 executive in 23 industries across the globe who took part in the IBM Global Reputational Risk and IT Study agree: managing reputational risk is crucial to their business, and managing IT risk is a major part of their efforts.
What can you do to protect your reputation from IT risks? Read the 2013 report to learn:
1.Swiss Re: Sigma preliminary estimates for 2012. December 2012.
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