As digital transformation catapults, supply chain security risks will continue to rise.
According to Anne Petterd, Partner at Baker McKenzie, speaking at CyberArk’s recent executive panel event. “You might be introducing IoT devices to actually perhaps address a compliance issue and the moment you can’t go to your factory in another country and get boots on the ground and check whether someone’s complying with modern slavery issues or sustainability requirements. What do you do? You put in more monitoring to address that compliance issue. But in doing that, there is the potential that maybe you’re opening another risk with cyber security.”
According to panellist Jim McKerlie, CEO of Kendo, the magnitude of risk has increased exponentially in the last year and is broader than just considering supply chains.
“We’ve had 10-years’ worth of digital transformation in a year last year because of COVID, so the whole world is networked. And I think it’s bigger than the supply chain and digital identity is absolutely fundamental to getting it right,” says McKerlie.
This article and video was produced as part of Which-50’s Digital Intelligent Unit, the company’s paid content arm.