Published on March 15, 2024
As digital adoption grows, so does exposure to cyber risks. Cybersecurity is a top priority in enterprise risk management and a key focus area for the Group. It plays a significant role in building customer trust and maintaining a positive brand image. For a multitude of companies under one common brand, ensuring adequate cybersecurity control is even more crucial. To achieve this, there is a need for a clear and standardised framework to achieve and measure best-in-class cybersecurity.
Tata Business Excellence Group (TBExG) conducts process benchmarking studies that play a pivotal role for triggering improvements within the Group. These studies assist group companies in benchmarking their performance and process levels, creating a network of experts on the subject.
TBExG recently facilitated its 41st benchmarking study on Cyber Excellence. The aim of this study was to understand various aspects of cybersecurity. The outcomes were shared through a webinar on February 14, 2024. 28 companies in the Group participated in the survey.
The comprehensive study encompassed data gathered from diverse group entities, spanning financial service firms such as Tata AIA Life Insurance, technology companies like Tata Technologies, and automotive component enterprises such as Tata AutoComp Systems. The research delved into crucial aspects of cybersecurity during a webinar, where representatives from these organisations, including Pawan Chawla, Chief Information Security Officer (CISO) and Data Privacy and Protection Officer (DPPO) at Tata AIA; Senthil Kumar Raman, Senior Architect & Head - IT Digital Solutions at Tata Technologies; Bhushan Deo, Chief Information Security Officer (CISO) at Tata AutoComp Systems; and Sushant Mallik from TBExG's Cyber Excellence team, shared insights into their respective approaches concerning network perimeter security, data protection and privacy, and strategies for enhancing employee awareness and response to cyber threats.
The webinar aimed to exchange Best Practices and nurture a culture of Cyber Excellence among Tata companies.
It also touched upon global trends such as the share of IT budget for cybersecurity, the cost of data breaches, top trends in cybersecurity, and a data breach investigation report stating that the major cause of breaches is the human element.
The next steps involve sharing detailed and customised reports with group companies to identify opportunities for improvement. Cluster sessions will be organised for mutual learning and sharing of Best Practices. TBExG will facilitate the implementation of learning, supported by subject matter experts from within the group companies. The intention is to conduct this study annually to track the maturity migration of group companies.