Horvath CxO Study: Fraud & Digitalization

Cyber Security is the Strong Newcomer on the C-level Agenda in 2022.

Digital Transformation is a topic that has gained significant momentum for companies of all sizes and in all industries, especially as a result of the pandemic. For finance, treasury, and accounting teams, a wide variety of new digital solutions and workflows that were a minor focus just a few years ago have now been prioritized in full force.

Although some of these solutions were implemented as strategic tools as part of ongoing, long-term digitization projects, many others came about specifically because of the rapid shift to remote working setups that was required circa 2020. But due to an extremely short implementation time, many of these projects have created loopholes or vulnerabilities that potentially expose companies to digital attacks on payment systems and transactions.

Yet pandemic-related objectives alone do not fully explain the results of Horváth’s recent study on C-suite priorities and perspectives, in which Cyber Security catapulted into one of the top priorities. Earlier in 2022, management consultancy firm Horváth held in-depth discussions with 280 C-Level executives from 17 different countries, primarily in Europe, on the topic of strategic priorities and industry trends. The results showcase a rapid rise in the prioritization of cyber security and fraud prevention.

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