The complexity of retail operations has grown exponentially in the past decade. With a growing share of retail transactions taking place through ecommerce sites, mobile applications and complex point-of-sale systems, the retail industry has been barraged with high-profile payment system breaches. Because of the devastating impact these breaches have on business operations, profit, and reputation, concerns about cyber risk have moved into the Board Room and C-Suite.
Retail companies must be proactive in addressing security and operational concerns. Compliance with the Payment Card Industry Data Security Standards (PCI DSS) is required, but truly securing your company requires a more robust commitment to cyber risk management. The retail industry is investing in Identity Governance and Access Management to secure web and mobile applications, data analytics to target waste such as inventory shrinkage, and advanced technical security assessments of systems, networks, and vendors.
In order to avoid data breaches and the loss of customer goodwill and trust, retailers must develop comprehensive cyber security plans to ensure their systems are regularly tested and secure. Focal Point has worked with retailers of all sizes, both global and national, and has developed cyber security plans to fit all operations and regulations, including PCI DSS and SOX.
We offer a number of services designed to meet the unique challenges retail organizations face: