The BCI Horizon Scan remains essential reading for business continuity and resilience professionals with cybersecurity emerging as top threat.
By Cindy Bodenstein, Marketing Manager, ContinuitySA
According to the BCI Horizon Scan, the top 10 threats identified by business continuity professionals for 2017 are:
- Data breach
- Unplanned IT and telecom outages
- Security incident
- Adverse weather
- Interruption to utility supply
- Act of terrorism
- Supply chain disruption
- Availability of talents/ key skills
- New laws or regulations.
It is noteworthy that the top three threats remain unchanged compared to last year, with cyberattack in the No. 1 spot for the third consecutive year. The No. 2 and 3 spots—data breach and unplanned IT/ telecom outages—are also connected to ICT, further indication of the central role that it plays in business.
Not surprisingly, the theme for this year’s Business Continuity Awareness Week, which takes place between Monday 15 May and Friday 19 May, is Cyber Resilience.
When it comes to actual disruptions, unplanned IT and telecom outages tops the list, followed by adverse weather, interruption to utility supply and cyberattack. The top 10 causes of disruption, bar one, were also on the list of top 10 threats. This would seem to suggest that organisations can be swayed by intense media or social concern to place more emphasis on certain issues, but that the calibration is not far out. The conclusion is that organisations should focus on deciding whether their concern about any specific threat is proportional to the actual levels of disruption that would be caused if it materialised.
Like its predecessors, this year’s survey provides a measure of what has changed since last year, and a window into what business continuity professionals are currently worrying about. It thus provides a good measure of how the threat landscape is shifting, and so helps our team of business continuity professionals to interpret the threat landscape in which our clients have to operate.
You can only build a resilient organisation if you know what threats it faces, after all.
This report is essential reading for anyone involved in business continuity and risk management—and who cares about building a resilient organisation. For more information on how ContinuitySA can assist you with planning for your business resilience requirements be sure to get in touch with our advisory department.