Business Wire

New Digital Trust Research Reveals Gaps, Benefits and Key Takeaways for Future Digital Transformation

Share

As enterprises worldwide race toward digital transformation, the State of Digital Trust 2022 survey report from ISACA shows significant gaps between what enterprises are doing now and what they should do to establish leadership and earn customer trust in the future digital ecosystem.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220915005265/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

ISACA surveyed more than 2,700 professionals worldwide who hold assurance, governance, risk, security or privacy roles to learn how enterprises are approaching digital trust. See key findings in this infographic, and access five takeaways on how to advance digital trust in the free survey report at www.isaca.org/state-of-digital-trust. (Photo: ISACA)

The report features insights from 2,755 international business and information technology professionals. ISACA defines digital trust as the confidence in the integrity of relationships, interactions and transactions among providers and consumers within an associated digital ecosystem.

While 98 percent of respondents say that digital trust is important, only 12 percent of their organizations have a dedicated staff role for digital trust.

Looking ahead, 82 percent say digital trust will be even more important in five years, yet only 29 percent offer staff digital trust training.

“Digital trust is the bedrock of business relationships, and is critical for strategic digital transformation,” said David Samuelson, chief executive officer, ISACA. “Innovation, market leadership and financial performance rely heavily on trust that must be earned every day.”

Organizations with low digital trust experience reputation decline (62 percent), more privacy breaches (60 percent), more cybersecurity incidents (59 percent), lost customers (56 percent), less reliable data for decisions (53 percent), negative revenue impact (43 percent) and slower innovation (36 percent).

Obstacles

The most significant obstacles to digital trust are lack of skills and training (53 percent), lack of alignment with enterprise goals (44 percent), lack of leadership buy-in (42 percent), lack of budget (41 percent) and lack of technological resources (40 percent).

“Digital trust is a currency that must be backed by a robust validation process,” said Matt Chiodi, chief trust officer, Cerby, and a member of ISACA’s Digital Trust Council. “Trust must be earned, which means that in everything an organization does, the end goal must be answering the question, ‘What can we do today to better earn the trust of our customers?’ Those organizations that continually ask this question and make executing on the answers a priority will win in the future – win in market share, profitability and engagement with employees and customers.”

Benefits

Key benefits of having high levels of digital trust include:

  • Positive reputation (66 percent)
  • Fewer privacy breaches (58 percent)
  • Fewer cybersecurity incidents (57 percent)
  • Stronger customer loyalty (55 percent)
  • Faster innovation (44 percent)
  • Higher revenue (25 percent)

Growth opportunities

Respondents said the top three components of digital trust are security, data integrity and privacy, but only half agree there is sufficient collaboration among professionals in these and other digital trust fields.

Eighty-two percent say digital trust will be much more important in their organization and 28 percent say their organization will likely have a senior staff role dedicated to digital trust in five years.

Visit www.isaca.org/digital-trust or www.isaca.org/state-of-digital-trust for the State of Digital Trust report and resources.

Access a member-only sneak peek webinar about the new Digital Trust Ecosystem Framework at 12 pm ET on 22 September 2022.

About ISACA

ISACA® (www.isaca.org) is a global community advancing individuals and organizations in their pursuit of digital trust. For more than 50 years, ISACA has equipped individuals and enterprises with the knowledge, credentials, education, training and community to progress their careers, transform their organizations, and build a more trusted and ethical digital world. ISACA has more than 165,000 members in 188 countries, including 225 chapters worldwide. Through its foundation One In Tech, ISACA supports IT education and career pathways for underresourced and underrepresented populations.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Emily Van Camp, +1.847.385.7217, communications@isaca.org
Kristen Kessinger, +1.847.660.5512, kkessinger@isaca.org

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

INNIO‘s next generation Jenbacher 3F engine offers significantly higher efficiency4.10.2022 14:07:00 CEST | Press release

INNIO announced today that it has launched its next generation Jenbacher Type 3F engine. This forms part of INNIO’s commitment to empower the transition to net zero with flexible, scalable, and resilient energy solutions and services. The new and improved Jenbacher Type 3F engine offers customers proven robustness and reliability while delivering up to two percentage points of efficiency boost, the engine line’s highest efficiency ever. In addition to delivering efficiency as high as 43.3% when operating on pipeline gas, the Type 3F engine is optimized for reduced total hydrocarbon (THC) emissions, future-proofed fuel flexibility, and enhanced serviceability. Moreover, the latest 3F technology is offered with a “Ready for H2” option and retrofittable for most of the installed Type 3 fleet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221004005681/en/ INNIO's next generation Jenbacher Type 3F engine has the line's highest e

Morrow Sodali Proud to Play a Key Role in Ukraine’s Successful Debt Deferral4.10.2022 14:00:00 CEST | Press release

Morrow Sodali, the global consulting firm to corporate and sovereign bond issuers, today published a report which provides a detailed account of their involvement in Ukraine’s recent transformational debt deferral. When the government of Ukraine needed to approach their foreign creditors for breathing space for repayments on billions of dollars in debt, they assembled a multinational team of leading financial and legal professionals to oversee the complex process and ensure all moving parts came together successfully and on time. With a team of dedicated experts in major financial centers around the world, Morrow Sodali took on the role of Information and Tabulation Agent for Ukraine’s consent solicitation. Using their proprietary real-time reporting system, BondWatch, which was developed by the Global Debt Services Team at Morrow Sodali, they were able to monitor in real-time the instructions they received from bondholders and identify when the requisite consents had been achieved on

Technology Company Enedym Inc. Announces New Collaboration with Toyota Tsusho Canada, Inc.4.10.2022 14:00:00 CEST | Press release

Enedym, Inc. (“Enedym”), the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, today announced a strategic collaboration with Toyota Tsusho Canada, Inc. (“Toyota Tsusho”), a Toyota group company and general trading arm of Toyota Motor. Through the collaboration, Enedym will design and develop SRMs and inverters with rated nominal power of approximately 45kW for use in North America and Japan. The magnet-free electric motors will convert small commercial vehicles, or tuggers, commonly used at airports and manufacturing plants, from diesel fuel to battery or hydrogen power. Through Enedym’s advanced SRM motor technologies, the refitted tuggers will reduce carbon output and lower costs, while maintaining exceptional performance. The collaboration’s first output, an electric-powered commercial tugger, will be piloted at one of Toyota Tsusho’s affiliates located at one of Toyota Motor’s North American manufa

Velodyne Lidar Acquires AI Software Company Bluecity4.10.2022 12:48:00 CEST | Press release

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced the company has acquired Bluecity, a Montreal-based artificial intelligence (AI) software company whose next-generation, lidar-based solutions solve safety, traffic and infrastructure issues. The all-stock acquisition reinforces Velodyne’s commitment to enabling customer success by delivering industry-leading, AI-powered autonomous vision solutions. The addition of Bluecity is expected to be immaterial to operating expenses and cash usage. Bluecity’s executive, software development and sales teams will join Velodyne. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221004005370/en/ Velodyne Lidar's Intelligent Infrastructure Solution, powered by Bluecity, installed at an intersection in San Jose, CA. Image credit: Velodyne Lidar Velodyne and Bluecity have been partnering for many years to deliver lidar-based solutions for smart city applications. Velodyne’s Intelligent

Eaton receives 2022 Automotive News PACEpilot recognition4.10.2022 12:30:00 CEST | Press release

Intelligent power management company Eaton today announced its Breaktor® circuit protection technology was named a 2022 Automotive News PACEpilot Innovation to Watch at the awards ceremony on Sept. 19. The recognition acknowledges post-pilot, pre-commercial innovations in the automotive and future mobility space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221004005233/en/ A product of Eaton’s eMobility business, the Breaktor technology is a new advanced circuit protection solution for battery electric vehicles (BEVs) that combines the function of fuses, pyro switches and contactors into a single coordinated device. As electric vehicle power levels increase, the Breaktor circuit protection solution solves the ever-increasing coordination challenge between fuses and contactors, while offering fast, safe and reliable protection for high-power battery and inverter systems. Eaton’s Breaktor technology has been selected by sev