Digitalization as a Risk: Security and Business Continuity Management Are Central Cross-Divisional Functions of the Company

Abstract

Digital transformation’s essential characteristic is the innovative use of information technologies with direct business benefits for the company. As we have already pointed out repeatedly in this book, the digitalization of the business world offers numerous opportunities through IT-based value creation, as well as product and business model innovations. However, even in this context, the benefits are not without associated risks. With an increasing diffusion of information technology, companies in the digital world are more and more dependent on the availability of their IT systems. The easy accessibility of systems via the Internet also leads to increased vulnerability. Accordingly, IT security is becoming the “ugly sister of digitalization,” as Ralf Schneider, Group CIO of Allianz, expressed at the Hamburg IT Strategy Days in early 2016 [1].