The Internet of Things (IoT) is created by numerous connected devices. The resulting extensive and complex data processing chains raise questions about control and monitoring for both the provider of IoT services and the user itself. It is particularly important to focus not only on the risk management but also on the offered opportunities leading to successful transformation. The best practices developed in early stages are a good contribution to these opportunities. It is important that they are manifested in an aligned operational concept, which includes guideless and monitoring controls.
The basic data protection in the process of data collection and transfer, control and monitoring of IoT devices, as well as the data processing and analysis are essential aspects required for establishment and operation of an efficient and secure IoT infrastructure. Thereby, the properly working IoT initiative implies the choice of the right platform, strong governance and control system. These enable gathering reliable data and ensure operational security. Also, the standards for interfaces and communication ensure seamless integration between IoT edge devices and integration of applications. From a risk management perspective, it is important to anticipate failures related to the aforementioned aspects and implement appropriate measures. In a connected world these aspects shape the value chains and impact the customer experience. In consideration of all these criteria the operators and suppliers ensure a high investment security.
In the complex and connected IoT-environment the fundamental challenge is to simultaneously manage and control systems, processes and data, as well as the risks and dependencies related to them. The GRC Framework of PwC helps to create trustworthy IoT solutions supported by proven best practices. It also allows to design the processes for IoT governance and control, which are necessary to secure IoT environments. The GRC Framework guides through the implementation of these processes in an organization and ensures their sustainable and secure operation.
Definition of appropriate IoT Governance structures, processes and controls considering relevant business requirements, risks and compliance requirements for your IoT engagement by
Increase transparency on your IoT environment, processes and controls and get recommendations to address relevant gaps by:
Prove trust towards internal and external IoT stakeholders by
“A key success factor for the acceptance of an IoT solution, as it applies to all new technologies and fundamental developments, is the issue of trust. To create this, we combine our know-how about the opportunities in the Internet of Things with our expertise to anticipate the challenges and risks of this emerging technology.”