The IT department has risen to prominence as one of the more integral components of successful, modernized organizations. However, in the midst of this growth, IT has also become increasingly expensive for many of these companies. Discovering what it looks like to manage a cost-effective IT department could be the difference between running a profitable business and straining to make ends meet.
Three Highly Effective Ways to Lower IT ExpensesAccording to an article coauthored by consultant Kevin Coyne in Harvard Business Review, there are two key points to keep in mind whenever you pursue cost savings, regardless of the organization or department.
Editor’s note: P.W. Singer, strategist and senior fellow at the New America Foundation, will deliver the closing keynote address at ISACA’s 2018 CSX North America conference, to take place 15-17 October in Las Vegas, Nevada, USA. Singer recently visited with ISACA Now to discuss pressing cybersecurity considerations that governments much grapple with, the multi-faceted impact of artificial intelligence and more. The following is a transcript of the interview, edited for length and clarity:
The Certified Information Systems Auditor (CISA) certification has truly benefited my professional aspirations.
In 1997, when I transitioned from active duty as a Captain in the US Army, I had a 10-year-old computer science degree and not a great deal of experience in corporate America, particularly in the financial services industry. The extent of my background at that time was having an IRA. Fortunately, I was able to gain an entry level position as an IT Auditor at Prudential Insurance Company of America (now Prudential Financial) in Newark, New Jersey, through their junior military officer (JMO) hiring program.
The 7th annual IT Audit Benchmarking Survey shed light on several IT challenges that are at the top of the agenda for executive management and will have a direct impact on IT audit plans for many enterprises in 2018.
While the survey highlighted several key challenges, I will be drilling more in-depth into one key aspect, which is the co-sourcing of IT audit. Within the survey, it was noted that IT audit’s role has grown since 2012, in that half of all organizations now have a designated IT audit director. Such growth emphasizes the importance of the IT audit role. Given the current technological advancements, IT audit plans are required to be aligned and inclusive of the risks that accompany them. That not only requires a different set of skills that are needed in order to have value-added audit results, but also requires internal management to reconsider their IT audit plans.
The National Institute of Standards and Technology (NIST) Cybersecurity Framework, also known as the Framework for Improving Critical Infrastructure Cybersecurity and commonly referred to as CSF, is top of mind for many organizations.
Whether driven by the May 2017 Presidential Executive Order on Strengthening the Cybersecurity of Federal Networks and Critical Infrastructure, the need for a common framework between business partners or as a way to measure best practices, many organizations are considering adopting NIST’s framework as a key component of their cybersecurity strategy.
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