Table of Contents
1. Risk management: How to protect yourself from cyberattacksIT risks occur in many places within companies. Hidden risks are particularly dangerous: they are hardly recognisable at first glance but can have a major impact. Cyber risks are one example. For 48% of German companies, they represent the greatest risk – even ahead of inflation or geopolitical conflicts. Nevertheless, only 40% regularly carry out cyber risk assessments.
One thing is certain: effective risk management requires the targeted use of modern technologies. Artificial intelligence (AI) offers great potential here. However, worldwide, only 10% of companies rely on advanced AI solutions in risk management. Technical measures are not the only decisive factor. Key figures such as quality, speed, and efficiency also provide indications of weaknesses in processes. The Risk Priority Number (RPN) helps to analyse risks in a structured manner – based on probability of occurrence, impact, and detectability.
Risk management is now a strategic success factor. Companies that systematically identify, assess, and minimise risks strengthen their competitiveness and protect their reputation in the long term. This is because those who invest specifically in IT infrastructure and optimise processes can not only reduce risks but also significantly lower costs.
With structured risk management, you actively manage uncertainties and reduce risks to a calculable level. You identify potential threats early on, evaluate the effects on business operations, and manage them with appropriate measures. Through continuous monitoring, you keep an eye on critical developments at all times – thereby securing the stability and ability of your company to act.
The process basically comprises several phases and consists of the following steps:
Identify risks In this phase, potential risks are systematically recorded. Methods such as SWOT analyses, checklists, expert interviews, or historical data analyses help to identify possible sources of danger.
Assess risks The identified risks are analysed with regard to their probability of occurrence and their potential for damage. This is often done with the help of risk matrices to determine the priority of the risks.
Develop strategies Based on the assessment, strategies for managing the risks are defined. This includes measures for avoiding, reducing, transferring, or accepting risks.
Implement measures The planned measures are implemented and responsibilities are clearly assigned. This can be done, for example, through separate work packages.
Monitoring and control The effectiveness of the measures is continuously checked, and the process is adapted to changing conditions. Monitoring systems and regular reviews are central here.
Carry out risk management regularly and iteratively – this is the only way to react flexibly to new threats. The goal: to identify dangers early on, limit their effects, and ideally avoid them completely. These can be financial, operational, legal, or technological risks. If risk management is effective, you strengthen the resilience of your company and create the basis for long-term, sustainable growth.
Classic risk management considers the entire company – from market and financial risks to personnel issues. IT risk management, on the other hand, focuses specifically on digital and technological risks. It deals with questions such as: What impact would a system failure have? How secure is our data? Which legal IT requirements must be met? The goal of both disciplines is identical: effective protection of the organisation. However, they rely on different priorities and methods.
Technology-related threats include cyberattacks, data loss, software errors, incorrectly configured security systems, or the failure of business-critical applications. For many companies, this is exactly the challenge: because IT risks affect the digital infrastructure and thus the foundation of daily business operations.
The goals of IT risk management at a glance:
In a digitally networked business world, the IT infrastructure forms the backbone of every company. However, as complexity grows, so do the threats. According to the BSI Status Report 2024, Germany recorded a dramatic increase in cyberattacks – with damage in the billions.
The BSI classifies the threat situation as "tense to critical". It is clear: ignoring IT risks is negligent and can have consequences that threaten the existence of the company. Companies must be prepared.
An IT risk refers to a vulnerability within an IT system that can lead to a disruption of business operations. It includes not only cyberattacks but also:
Although the specific priorities of IT risk management vary depending on the industry and business model, five central areas usually form the basis for a holistic and effective approach.
Information Security & Cybersecurity: This area deals with securing the confidentiality, integrity, and availability of information. In addition to technical measures such as firewalls, encryption, and access controls, raising employee awareness also plays an important role, for example through security awareness training against phishing and social engineering.
Business Continuity & Disaster Recovery: Business Continuity Planning (BCP) and Disaster Recovery (DR) ensure that business operations can be maintained or quickly restored in the event of IT failures or disasters. This includes backup strategies, emergency plans, and the definition of recovery objectives (RTO/RPO).
IT Compliance & Governance: This sub-area ensures that legal, regulatory, and internal company requirements are met. IT governance ensures that IT risks are treated in accordance with strategic company goals. Relevant standards include, for example, GDPR, ISO 27001, NIS-2, or the IT Security Act.
Vulnerability and Patch Management: To effectively close security gaps, vulnerabilities must be regularly identified, prioritised, and resolved through patches or updates. This is ideally done through automated processes and regular vulnerability scans.
Third-Party Risk – Risks through third-party providers and supply chains: In a globally networked IT landscape, the security of service providers and partners is also crucial. Risk management in the supply chain includes due diligence checks, security requirements in contracts, and continuous monitoring of third-party providers.
A well-known practical example is the cyberattack on the Hessian University of Public Management and Security in 2024. More than 100,000 data records were stolen. The attackers exploited an unpatched security vulnerability for this purpose. Effective IT risk management would have identified and closed this vulnerability early on – and thus prevented the damage. Another example is theransomware attack on a large logistics company, which caused days of delivery delays and losses in the millions.
In 2022 alone, German companies suffered total damages of 203 million euros due to cyberattacks. And that's not all: serious IT incidents also occur repeatedly in the healthcare sector. For example, in 2020, a hospital in Düsseldorf became the target of a ransomware attack that paralysed the IT systems for days. Emergency operations had to be postponed – with potentially life-threatening consequences. The example illustrates: IT risks do not only affect the economy but can also endanger the safety and health of people.
Depending on the industry, companies face different challenges. Inhealthcare, the focus is on protecting sensitive patient data and complying with medical regulations such as the Hospital Future Act (KHZG). Financial institutions such as banks and insurance companies must meet extended compliance requirements – such as the specifications of BaFin or the PSD2 directives.
In the manufacturing industry, seamless integration with OT (Operational Technology) systems is crucial for operating production plants safely and efficiently. The public sector, in turn, requires specialised functions to reliably implement legal requirements such as the Online Access Act (OZG) and other administrative regulations.
Effective IT risk management is based on five essential elements:
Identification: Identifying potential risks to your IT infrastructure, including hardware failures, software vulnerabilities, data breaches, compliance violations, and even natural disasters.
Assessment: Analysing the likelihood and impact of each identified risk. This involves understanding how frequently the risk could occur and what potential damage it could cause to your company. Penetration tests and vulnerability scans also play an important role here.
Mitigation: Developing and implementing strategies to reduce the likelihood or impact of identified risks. This could include implementing security controls, developing disaster recovery plans, or taking out cyber insurance.
Monitoring: Continuous monitoring of your IT environment for new risks and ensuring that your mitigation strategies are effective.
Review: Regular review and updating of your risk management plan to reflect changes in your IT environment and the threat landscape.
Note: The goal is not to eliminate all IT risks, but to minimise them to an acceptable level.
In addition to ISO 27005, there are other relevant standards:
Penetration tests (pentests) are an indispensable building block in IT risk management. In this process, IT security experts carry out targeted attack simulations on systems to identify vulnerabilities. Companies benefit in several ways:
Regular penetration tests help to continuously improve security strategies and actively minimise risks.
Companies face numerous challenges in preventing and detecting IT risks. These include insufficient data protection, system downtime, violations of compliance requirements, lack of transparency, and inefficient use of resources. Data breaches in particular cause high costs – both financially and through damage to reputation. With consistent risk management, you ensure compliance with regulations such as GDPR and HIPAA, thus preventing expensive fines.
In addition to organisational measures, the technical side is also crucial. You can only manage risks in a targeted manner if you know your IT assets and their vulnerabilities exactly. Otherwise, hardware failures, software errors, and cyberattacks cause expensive system interruptions. It is a fact that effective IT risk management relies not only on technology but also on a lived corporate culture.
The following points should be culturally anchored in the company:
Effective IT risk management saves costs in the long term:
A wide variety of IT risk management software solutions are available to companies. These allow security measures to be implemented in a targeted manner. Tools that offer the following functions are particularly in demand:
With i-doit, you not only utilise powerful risk management but also many other functions: the IT management software centralises the recording and management of your IT assets and transforms IT documentation into an ITIL-compliant Configuration Management Database (CMDB).
Efficient management of IT and business processes requires a solution that covers many requirements. i-doit offers exactly that:
Your advantage: i-doit is scalable and therefore suitable for companies of all sizes. Regular updates ensure long-term future security, while flexible adaptation options enable the implementation of industry-specific requirements.
With the i-doit API add-on, you expand your ITSM capabilities. The add-on connects i-doit to other systems and applications via a JSON-RPC interface. It enables both the reading and writing of data. In doing so, all user rights and access rules are strictly observed, ensuring secure and efficient data processing.
IT risk management is not an optional addition but a corporate duty to secure your IT infrastructure. With solutions like i-doit, you actively identify, assess, and minimise threats. Supplement your IT strategy with regular audits and emergency plans to optimally protect your company from risks and operational failures.
Effective IT risk management supports companies in meeting the growing requirements for compliance, data protection, and cloud security. Furthermore, in view of increasing cyberattacks, IT security is becoming more and more important. Modern IT risk management tools and specialised software enable precise assessment and early detection of vulnerabilities. In this way, you establish holistic IT risk management that is perfectly tailored to the complex requirements of your company.
In short: investing in well-thought-out risk management not only brings financial benefits but also strengthens the trust of customers and partners in your company's IT security.