This detailed case study examines how an international clothing retailer with a presence in stores and online tackled the critical task of automating technology risk management. The company faced two significant hurdles: a general lack of knowledge about cyber threats and an insufficient number of staff dedicated to managing those risks. The Chief Information Security Officer (CISO) stepped into the spotlight, leading the charge in educating the company’s tech-focused team on the intricacies of cyber risks. As a result, various departments within the company began to understand the importance of cyber risk management and were eager to contribute to safeguarding the company’s digital processes.
An international omni-channel clothing retailer.
There tailer’s risk management team was alarmingly small, with no sign of additional support on the horizon. Attempts to utilize a system of risk scores proved ineffective; the stoplight colors and numerical scores failed to clearly convey the extend of the threats to the company or how much risk they face. Even more, emerging FAIR-based cyber risk assessment methods were excessively time-consuming and too hands-on, producing results that were difficult for non-specialists to grasp.
There tailer’s approach to overcoming these challenges involved several key steps:
This case study illustrates the successful strategy of a retailer in fortifying its defenses against cyber threats by implementing advanced risk management automation solutions, thereby fostering a deeper understanding of cybersecurity risk throughout the company.