Dec 05, 2014
Chennai.
“In the digital age, when the world is moving aggressively towards leveraging technology to drive business and more of newer technologies, to increase customer satisfaction and experience, there is a growing need to focus on IT security and regulatory compliance,” said Mr Varun Sood, Co Chairman, CII National CIO Forum and CIO & Vice President – Strategic Initiatives Fortis Healthcare Ltd. He was inaugurating the second edition of the CIO Summit on December 5 in Chennai, organised by Confederation of Indian Industry (CII) along with Knowledge Partner, PwC. “It is more and more critical not only for large organisations, but also for small and medium enterprises to understand the repercussions of data threat and therefore the need for compliance,” he added.
IT Security threats have shown manifold impact on businesses across sectors and the effects are often hard hitting to ignore. While new-gen technologies are opening up new doors and increasing revenue for businesses, there is a need to spread awareness amongst the business stakeholders on the different types of cyber threats they may face and the effective way out. “Traditional boundaries have shifted. Companies operate in a dynamic environment that is increasingly interconnected, integrated and interdependent. Security needs to keep pace with a fast evolving business, technology and threat landscape”, said Mr Siddharth Vishwanath, Partner, PwC India.
This thought was supported by Mr Avinash Joshi, Vice President – Sales & Business Development (India & South Asia), IBM India Pvt Ltd, as he shared “tips” for organisations on how to manage security threat.
Mr Vikram Subrahmanyam, Operations & Technology Head – South Asia, Citigroup, who was also a part of the inaugural session stated that “it’s not only about regulation, it is about reputation. Our customers are going to walk away from us if they cannot trust us”, while speaking on the topic of giving importance to information security and compliance. “In parts of industry in India there’s a lot more that needs to be done,” and his thoughts were supported by Mr S Srinivasan, Chief Information Officer, TVS Infotech as he spoke of “how one can bring in the controls”.
