CIO Magazine – Retail CIOs need to weigh IT governance against business innovation – not to mention customer, employee and executive education – if they want to deliver a seamless and secure omnichannel shopping experience. When Home Depot and Target experienced large-scale security breaches on payment systems in 2014, it hit those top retailers hard: Criminals stole millions of consumers’ debit and credit card data; the companies lost hundreds of millions of dollars in fines and lost sales; and their brand reputations suffered.
“As organizations continue to push for omnichannel capabilities, the CIO must be cognizant of how increases in data security may impact the ability to provide this type of functionality,” said Perry Kramer, vice president and practice lead, Boston Retail Partners. “A true unified commerce architecture, if implemented correctly, can actually serve as an enabler of both enhanced information security and a seamless shopping experience. “It can minimize customer datastores, control the flow of payment data through a single gateway, and provide a single version of the truth as it relates to business rules.”
Read full article: Retail CIOs must balance security with innovation