Tech Company Risk Management
The center of gravity for technology companies often rests upon their unique intellectual property (IP). Any threat vector that targets that IP has the potential to disrupt the company’s competitive edge and severely impact the company’s survivability. The most common risks for a tech company include:
- Data breach: Cyberattacks are the most common threat to a company’s IP as the attack methods are extremely varied and constantly evolving.
- Industrial espionage / insider threat / physical theft: Commensurate with the digital threat is the human factor where insiders or outsiders gain access to IP data, technology, or assets to exfiltrate the content to a competitor or hostile actor.
- Supply chain disruptions: Indirect threats to the complex supply chain can effect disruptions, delays, shortages, and increased costs.
- Regulatory changes: Compliance with changing regulations is a constant requirement.
- Competitors and evolving technology landscape: The ever present threat of competition.
A robust enterprise risk management program needs to address these risks, prioritize resource allocation, and integrate company leadership to effectively navigate the fluid risk landscape.
