Do you know what Digital Risk Protection (DRP) is? If your work involves risk management, you have probably heard, or will hear, about this digital security field. But if you have no idea what it is, or of the importance of this growing area, here’s your perfect opportunity! Let’s take a look:
Digital risk monitoring and response
That’s the issue, in the long run. When speaking of security, don’t be confused: this part has little to do with protection measures such as antivirus software and firewalls.
Digital Risk Protection is monitoring and responding to everything related to your brand(s) on the Internet—and this can also include the deep and dark web. That is, everything that happens outside the company’s perimeter, which may, at first glance, appear to be uncontrollable.
Problems related to inadequate security can stem from a number of sources, including poor planning, careless employees, and uninformed clients, creating a wide variety of vulnerabilities (phishing, data leakage, larceny, fake profiles and a host of other online crimes). What’s important, first of all, is to not to be overwhelmed by the Internet’s size. That’s why risk management needs to take a well-measured approach in planning monitoring.
Why is DRP important to a company’s risk management?
In addition to providing improved Internet navigation for countless people, Digital Risk Protection benefits three primary sectors within a company: information security; marketing; and compliance.
Information Security (IS)
This is the most obvious sector to benefit, because it’s responsible for ensuring that sensitive client and employee information receive maximum protection. These are issues for the Data Protection Officer, a new position that is emerging in response to the conveyer belt of government regulations being imposed, such as those enacted under the General Data Protection Regulation (GDPR).
These professionals, however, often end up overloaded with responsibilities, and may run the risk of burnout syndrome. In this sector, in addition to improving the division of labor and removing stress (and digital threats—ba-dum ching!), tools such as DRP can also serve as an engine for specialization and efficiency.
These are the people who are most concerned with the consumer’s perception of the company and who must deal with issues related to brand protection. Because the marketing team is focused on developing leads and generating brand interaction, it must also be concerned with conveying trust and a good reputation when working with the brand’s digital presence.
The compliance department has to be concerned with everything. That’s right! Everything. That’s why they must work in close partnership with all the other departments. And therein, risk management is born: a complete overview of all potential types of damage to a brand, including cybernetic as well as physical, operational, regulatory, and financial. That’s why, when the times require good monitoring—and response of course—DRP is such a powerful benefit in digital compliance.
Who does Digital Risk Protection?
There are only a few companies around the world dedicated to the sector—and the market has clearly got its eyes on them. Forrester, a US-based company dedicated to global market and technology research, has just released their report titled, “The Digital Risk Protection Market in 2019.” It provides data regarding the worldwide growth in the DRP market and why companies are (or should be) concerned with using these services and products.
Axur contributed to the Forrester report—in Latin America, we are leaders in digital risk monitoring and response. Through our Axur One platform and associated products, such as Hashcast and Cardcast, we enlist the help of robots to enable you to see everything we monitor throughout the vast reaches of the Internet (including the deep and dark web!). That way, with a few user-friendly clicks, you can request the removal of any content affecting your brand’s reputation.