In episode 84 of the Cybersecurity Minute, Rob Wood discusses the rise of process automation for finance teams, but it’s not something that finance teams necessarily understand in the context of cybersecurity. For this reason, cybersecurity teams must work closely with finance teams to help them determine what kind of data is essential for financial automation to deliver more benefits than risk.
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00:45 — As you are investing in the relationship between finance and cybersecurity, it’s crucial to engage with the finance team on the data it needs for its projects. Per Rob, there is often a tendency to over-collect data in cybersecurity, but more data is not always helpful. Sometimes it overcomplicates things or adds more risk.
01:02 — To combat this, Rob recommends creating a data inventory or using a whiteboard to enumerate the data sources needed for finance projects. Then, analyze the risk-to-benefit ratio for each project. This will help the finance team understand what data is truly necessary for their projects.
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01:43 — As a cybersecurity expert, Rob says, it’s your responsibility to educate and assist the finance team in understanding the tradeoffs of their projects. By working together and streamlining data collection, you can create a more efficient and secure system.
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