Digital risk management (DRM) has become an essential practice for organisations in the modern era. As businesses increasingly rely on digital technologies, the potential risks associated with cyber threats, data breaches, and system failures have grown exponentially.
This is according a new report on digital risk management by Market by Transparency Market Research.
DRM involves identifying, assessing, and mitigating risks associated with digital assets and operations to protect organisations from adverse impacts. This comprehensive approach encompasses various strategies and tools to ensure the security, privacy, and resilience of digital environments.
Digital risks encompass a wide range of threats that can affect an organisation’s digital assets. These include cybersecurity threats, data breaches, operational disruptions, compliance risks, and third-party risks. Cybersecurity threats such as malware, ransomware, phishing attacks, and hacking attempts are common threats that can compromise sensitive data and disrupt operations. Data breaches involve unauthorised access to confidential data and can lead to significant financial losses, reputational damage, and…
