In episode 66 of the Leadership Minute, Tony Uphoff says that the time has come for CEOs to shift their mindset and view cybersecurity as a growth driver rather than a cost center, then offers five ways that CEOs implement this transformation to drive growth in their businesses today.
To hear more data modernization, AI/hyperautomation, cybersecurity, and growth strategies from CIO practitioners, tune into Acceleration Economy’s Digital CIO Summit, which takes place April 4-6. Register for the free event here.
Highlights
00:40 — As we continue to navigate the increasingly connected world of the 21st century, the role of cybersecurity in business has become more critical than ever, says Tony. No longer can we view cybersecurity as merely a necessary evil or a cost center to be minimized. Instead, innovative CEOs are now seeing cybersecurity as a growth driver for their organizations. The growing threat of cyber-attacks and data breaches is forcing organizations to make bold, strategic decisions to safeguard their digital assets and customer information.
01:29 — Tony shares five ways CEOs can use cybersecurity as a business growth driver: First, building trust with customers and partners is crucial. Today’s consumers are more aware of the risks associated with their personal data falling into the wrong hands. When CEOs invest in robust cybersecurity measures, they send a clear message to their customers and partners that their data is taken seriously and protected. This enhances trust and builds a positive brand reputation, which drives growth and loyalty in today’s increasingly competitive marketplace.
02:09 — Secondly, strengthening compliance and reducing risk is important. As data breaches continue to make headlines, governments worldwide are implementing stringent data protection and privacy regulations. Tony says that a strong cybersecurity posture can help companies stay compliant with these regulations and avoid potentially crippling fines and legal issues. CEOs who understand the importance of cybersecurity can reduce their organization’s risk exposure and protect their bottom line.
02:37 — Thirdly, fostering innovation and speed to market is key. Companies that view cybersecurity as a growth driver are more likely to embrace new technologies such as artificial intelligence (AI) to stay ahead of cyber threats. By integrating cutting-edge cybersecurity solutions into their infrastructure, these organizations are better prepared to adopt and capitalize on emerging technologies and market opportunities.
03:14 — Number four: Attracting and retaining talent is essential, says Tony. A company with a strong cybersecurity culture is more likely to attract and retain top talent. The best professionals in any industry want to work for organizations that prioritize security, privacy, and innovation.
Which companies are the most important vendors in cybersecurity? Check out
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03:42 — And lastly, companies that prioritize cybersecurity can discover new revenue streams by offering their customers value-added services and solutions. For example, a software company can develop and sell cybersecurity solutions tailored to the needs of its clients, creating a new source of income. Tony adds that companies with strong cybersecurity practices are often better positioned to enter into strategic partnerships and joint ventures, expanding their market reach and driving revenue growth.
Register here for your on-demand pass to view all content from Partners Ecosystem Digital Summit. The digital event, which took place on April 20, focused on analyzing the business and IT imperatives around cloud, AI, automation, data modernization, and cybersecurity that define the future of partnerships.
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