While CEOs and presidents grapple with the complexities of business, marketplace, industry, strategy, and their board and stakeholders, they are left with little time or inclination to deal with the details of the incredibly dynamic technology landscape. Keeping one’s eye on the myriad of technology changes and how they can and will affect the business takes a specialized, dedicated, and experienced professional. That is exactly the role of the virtual CIO or CTO.
Congratulations, you have made the decision to engage a fractional or virtual CIO/CTO. You likely arrived at this decision due to significant challenges facing your organization and time sensitive opportunities that will define your future. You may also have concerns about introducing a new personality into the leadership team and you want to ensure all team members have a voice that is heard. Time is of the essence to effectively onboard your new leadership partner.
ClearTone Consulting understand these challenges, dynamics, and opportunities. We have created this onboard process to provide you transparency and insight up front. Every organization has unique needs and challenges and therefore the processes documented here provides a framework for the starting point of the engagement. Depending on the specifics of the engagement, certain areas may be removed and others could be added but the high-level principles of engagement will remain.
On a weekly basis, there is a steady stream of news regarding cybercrime attacks. In fact, with the spread of the COVID-19 pandemic , the US FBI has reported a 300% increase in cybercrime activity. The data tracking the number of ongoing cyber attacks and the costs associated with compromises continues to increase at an exponential rate. This growth continues despite the fact that most organizations continually increase their cybersecurity investments.
Data is one of the primary assets for any association or organization. Data regarding attendees or members and their interactions with the organization’s systems constitute significant value. This data can be used to understand the interests of the users, create personalized experiences, make meaningful business connections, and help drive business growth.
The increase in value of these digital assets is also accompanied with increased risk to the organization via cyber security breaches, privacy law failures, and data ownership confusion between the organization and their technology vendors.
The cost of cyber insurance is skyrocketing as cyber security incidents increase. Additionally, when organizations fail to implement proper security and privacy controls, they risk losing insurance coverage after security incidents have occurred. These risks can damage an organization’s brand and can create devastating expense scenarios.
Organizations must have a clear understanding of their risk position regarding Cyber Security, Data Privacy, and Data Ownership. ClearTone Consulting offers an assessment service addressing all three areas and resulting in an executive assessment report that identifies the weaknesses and strengths of your organizations risk position.