Cost efficiency Risk management
Cybersecurity
optimization
Business model
transformation
(i.e. operating model
change) (more than
any other industry)
Customer experience
improvements
Financial services industry takeaway
While talking about exciting, cutting-edge tech, respondents from the financial services industry are actually
more focused on simpler tech priorities:
28 AlixPartners Disruption Index 2023
Data-driven
decision-making
(more than any
other industry)
KEY FINDING #5
Digital risk management is critical for disruptors,
reactors, and followers alike.
Cybersecurity isn't sexy, but it's as essential for offense as it is for
defense. When digital investments go sour, cybersecurity is very
often a cause of failure; security failures are also a sure way to
destroy C-suite trust in digital leadership. If anything, the survey
results say that companies aren't paying as much attention to
technology risk as they should.
Those respondents realizing ROI from their tech investments are almost 80% more likely to be prioritizing
cybersecurity optimization in their current or near-term plans. Similarly, those who are not realizing ROI from
their tech investments are more than twice as likely to say that failure to proactively consider cybersecurity was
a major factor in their failing to realize strong ROI from their digital investments.
Collaboration across the organization will be critical as companies look to move toward environments where
security is a business enabler rather than simply corporate compliance or IT risk management. It must be
baked in from the very first minute of a digital project.
In times of economic uncertainty with significant impacts on companies' financial performance, approaches
to the optimization of cyber security investments must be reconsidered. An approach that centers on business
value protection-and is vendor-neutral - often provides significant improvements two the financial efficiency of
cyber investments.