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Digital Trust

trust  ˌ/trəst/ noun

  1. Firm confidence in the reliability, security, truth, ability, or strength of a system.


Trust starts with a belief. A faith your customer’s have in your company to be reliable, trustworthy, certain, and provide assurance in what you promise. You promise to keep data safe and secure, to respond to change, and to exceed your customer’s expectations.

Keeping those promises and building trust with your customer begins with well guided risk anaysis. This risk analysis focuses on trust. Thinking beyond traditional risk management strategies is key. Use digital to redefine a risk from an action resulting in uncontrollable consequences to one of predicatable outcomes.

In a vertical marketing system, distinct pieces in the distribution channel, typically producers, wholesalers and retail online outlets, work together as a unit to deliver products to customers. Companies now more than every have to strengthen their digital trust for all types of risk services in this vertical market system. And, at the same level of importance, companies need to evaluate their horizontal marketing system. As more and more organizations (at the same level) join together for marketing purposes to capitalize on a new opportunity, embedded digital trust becomes more complex.

 

The Future We Can See

The central issue facing companies today is how to respond to digital disruption. If you handle the disruption well, you end up on the winning side of the field. The wrong play and your product, service, and even your company may end up obsolete.

Risk management moves along with your company’s digital transformation. Incorporating risk analysis in all aspects of a business is not really new. What is new is using digital to perform beneficial analysis. Understanding the right type of risks, staying compliant, capable, and protected across your company – with a digital mindset – we make risk analysis more valuable.

How to Model Trust

Companies start to begin to look at digital trust in the important areas of value, strategy, implementation, and operations. To develop your digital trust model, look at what other leaders are saying they want to consider:

  • Manage preventable risks like, reputational damage, business interruption, data breaches, and unintended legal consequences.
  • Mirror their risk management practices and their organization's digital transformation.
  • Use strategic risks to your advantage and create business value.
  • Understand external risks and prepare for their negative consequences.

Trusted Strategy

  • Create an investment process focused on risk adjustment. Know when to invest in the right digital projects.
  • Identify the risks impacting your business.
  • Develop a in-time response to at risk levels of your business.

Trusted Implementation & Operations

  • Build security and controls into digital program implementation.
  • Maximize technology to more effectively implement and manage solutions for continuous monitoring of all your operations.
  • Optimize organizational structure and risk management policies and processes to create flexibility and growth.

 

In Practice

DE Case Study


Manufacturing Digital Trust

Digital Trust Framework Operating Reference Model (DTRFORM)


The Engagement

The client, an Electronics manufacturing company, has a vision to be the global leader in their industry within three years. Considering the recent cyber related incidents, they had committed to embed cyber security into their safety culture and modeling other industries like banking and airlines to accelerate and secure their digital journey. Per prior enjoyment with Digital Enterprise, a series of strategic investment was planned to achieve this goal.

The Opportunity

After series of Cyber Maturity Assessments, Cyber Technology Assessments, in depth discovery workshops, Digital Enterprise experts have identified the following as the immediate areas of the opportunity need to be addressed:

  • Determine the cyber threat scenarios affecting the most valuable assets, information and systems
  • Identify critical preventative and mitigating controls for high risk scenarios
  • Understand and assess the current state of Cyber maturity
  • Complete risk analysis to determine treated cyber risk
  • Assess transformational programs to determine forecasted risk Analysis
  • Determine future acceptable risk level and draft cyber strategy and roadmap to reach desired profile

The Solution

Digital Enterprise served as the client-side partner in building and executing a unified operational strategy that was in line with the client's corporate goals. The value the client realized from the project included the following:

  • Threat and Risk assessment
  • Critical Control Identification
  • Cyber Maturity Assessment
  • Treated Cyber Risk Profile Assessment
  • Forecasted Cyber Risk Profile
  • Target Cyber Risk Profile & Strategy
  • Immediate action plans for protecting the critical manufacturing infrastructures
  • Addressing the overall current Cyber Maturity level of "Low" to "Medium" rating within one year
  • Foundation investment in first year to enable continued cyber risk reduction in years two and three.
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In Digital We Trust

In simple terms, you build a framework that everyone can trust.

Digital Enterprise

The Digital Enterprise Approach

Digital Enterprise draws from a wide range of digital risk capabilities, tools, and accelerators to create and maintain digital trust.

Together, we educate your company on the complexity of the new risks you face. We explain how to protect your business operation, establish a continuous approach, and respond to risk triggers. How do we do this? Using predictive analytics is just one way to insulate your organization and you move from a risk response that is reactive to one that is proactive.

This approach focuses on building a trustworthy philosophy.

In simple terms, you build a framework that everyone can trust.

 

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