Steve Durbin is Chief Executive of Information Security Forum. He is a frequent speaker on the Board’s role in cybersecurity and technology.
Trust is at the heart of every business relationship. Consumers won’t do business with you and employees won’t work with you if they don’t trust you. And while trust can comprise a number of elements (including product quality, honesty, integrity and goodwill), security is quickly emerging as one of the key pillars of trust. Per a recent PwC survey, consumers, employees and business leaders agree that data protection and cybersecurity are the number one foundational elements of trust.
As issues surrounding data security, privacy, breaches, espionage and misinformation come to the forefront, businesses are at an increased risk of losing both their revenue and reputation. According to Deloitte, a negative trust-related event can erode an enterprise’s market cap by 20% to 56% and has the