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Securing Consumer Trust

Achieving Cyber Resilience in Retail

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Securing Consumer Trust

  1. 1. ACHIEVING CYBER RESILIENCE IN RETAIL SECURING CONSUMER TRUST
  2. 2. 2Copyright © 2018 Accenture. All rights reserved. CISOs in retail companies need to handle upcoming threats from: • Connected environments • Broader ecosystems • Expanded use of data Cyberattacks are inevitable of retail executives said that “cyberattacks are a bit of a black box, we do not quite know how or when they will affect our organization.” 72% Retail companies need an effective threat response
  3. 3. 3Copyright © 2018 Accenture. All rights reserved. What is the current security landscape? Retail companies are under pressure… of retail respondents had experienced a security breach in customer data in the last 12 months. 53% ...but they believe they have cybersecurity covered… of retail executives, on average, are confident about their cybersecurity capabilities. 82% ...even though, in reality, they still have a long way to go out of 33 cybersecurity capabilities, retail is high- performing in just 19. 19
  4. 4. 4Copyright © 2018 Accenture. All rights reserved. Three factors can help tackle the next wave of cyberattacks: An evolving threat landscape demands constant vigilance Digital prompts a new wave of security outsourcing Retail CISOs need a seat at the (boardroom) table
  5. 5. Retailers cannot be complacent about the enemy. Threats include: • Shifting nature of cyberattacks e.g. ransomware-as-a-service • New business models, ecosystems and liquid workforces • The increasing cost of cybersecurity An evolving threat landscape demands constant vigilance 5Copyright © 2018 Accenture. All rights reserved. Retail executives are defending of targeted attacks and experiencing 32 security breaches a year, slightly more than the global average. 80%
  6. 6. A connected environment brings its own complexities and exposure risks. Challenges include: • Data is not longer all in one place and security is not isolated to protect it​ • Regulatory demands and the need for dedicated control and compliance​ • A growing data mountain Digital prompts a new wave of security outsourcing of retail executives say that more than half of their cybersecurity program should be outsourced to providers in three years' time. 26%of retail executives, on average, lack confidence that their organizations can protect a range of nine different security areas, from customer and payment card information, to secure store and corporate networks or eCommerce attacks. 14%+ 6Copyright © 2018 Accenture. All rights reserved.
  7. 7. To be successful, CISOs need access to the executive team and insight into the business. Issues include: • A shift from threat handling to taking a proactive, risk-based approach to managing data security • Partnering effectively to properly assess security and management controls • Developing a new security mind-set and culture within the workforce Retail CISOs need a seat at the (boardroom) table 4 in 5 7Copyright © 2018 Accenture. All rights reserved. survey respondents say that the CISO role will evolve from “authoritative enforcer” to “influencer/coach” for C-suite colleagues. To do this, the CISO needs to speak to business leaders in their own language. Source: Build pervasive cyber resilience: Securing the future enterprise today, Accenture 2018
  8. 8. Retail executives know there is work to do 45% 8Copyright © 2018 Accenture. All rights reserved. of retail executives recognize they need to improve on cyber threat analytics and 43% on security monitoring—the “basics” of security programs. Cybersecurity resources and capabilities are fundamental to a retailers’ future
  9. 9. Put security first 01 Harden and protect core assets Become brilliant at the basics by hardening and protecting your core hardware and software assets. 02 Adopt a “protect and partner” approach Use a data-driven approach and advanced threat intelligence to better anticipate potential attacks and develop a more proactive security posture. 03 Evolve the role of the CISO Make sure the next-generation CISO is business adept as well as tech-savvy. Infuse a security mind-set into the culture of the organization. Actions to achieve cyber resilience 9Copyright © 2018 Accenture. All rights reserved.
  10. 10. About the research Retail respondents Companies with revenues >US$10bn Countries: Australia | Brazil | Canada | France Germany | Ireland | Italy | Japan Netherlands | Norway | Singapore Spain | United Arab Emirates United Kingdom | United States Survey conducted 2018 SURVEY RESPONDENTS CIO Chief Security Officer Chief Compliance Officers Chief Risk Officer Chief Security Architect Corporate Security Officer 411 117 15 10Copyright © 2018 Accenture. All rights reserved.
  11. 11. Read the full report: www.accenture.com/retail-cyber-resilience /showcase/Accenture_retail /showcase/accentureconsulting About Accenture Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 459,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com. Copyright © 2018 Accenture. All rights reserved. Accenture, its logo, and New Applied Now are trademarks of Accenture. Stay Connected @AccentureRetail @AccentureConsult Note: Unless otherwise stated, the statistics in this point of view represent retail respondents in the survey report “Gaining ground on the attacker: 2018 State of Cyber Resilience,” Accenture 2018. 11

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