AMADEUS LAUNCHES NEW CYBER SECURITY DRIVE
(Posted 03rd November 2015)
A new White Paper just released by Amadeus, the world’s leading advanced technologies company for the travel industry, shows both the upsides and downsides of the challenges and opportunities related to Cyber Security.
The document titled ‘Cybersecurity as a lever for revenue growth: Why Information Security matters to the Chief Commercial Officer’ also reveals that this threat can actually be turned into a commercial opportunity, allowing companies to manage data security to grow their reputation, reduce risk exposure and ultimately improve the balance sheet.
Some of the white paper’s key findings include the outlines of how companies can use security initiatives to improve their customers’ experience and drive greater sales on their websites. There appear to be significant opportunities for in particular airlines to unlock hidden revenues by reducing the number of valid transactions which are blocked by ineffective fraud management systems still broadly used. Storing sensitive data as tokens allows travel companies to eliminate sensitive data altogether from their organisations which greatly reduces the burden of meeting new and upcoming regulatory obligations.
Automating fraud management controls can not only reduce the level of fraud, which a company is exposed to, but also reduce the hidden cost of fraud.
Said Juan Torres, General Manager of Amadeus East Africa: ‘Data security presents complex challenges to the global travel industry and East Africa is no stranger to this reality. At Amadeus, we believe it can also be a lever for growing top line revenues, but also an opportunity to improve customer service. With cybersecurity as a lever for revenue growth we explore the mindset and initiatives required to realize this opportunity. To achieve the revenue opportunity, data security cannot be the domain of a single department but span the whole organization, with conversations across and beyond silos. We have developed this white paper with the explicit aim of driving these conversations between data security professionals, IT heads and commercial executives of our Travel Industry partners’.
A core recommendation of the paper, which also includes contributions from data security specialists including GlobalDataLock.com, Hold Security and Frost & Sullivan, is that companies take a holistic approach to data security
Aiming to inform and stimulate an industry conversation on data security and commercial opportunity does the new document combine together analysis and real world examples on data security, the rising impact of fraud, and the response of the industry. A full version of the paper is available via http://www.amadeus.com/blog/29/10/safeguarding-information-systems/
Amadeus is represented in Eastern Africa through offices in Nairobi, Kampala and Dar es Salaam.
