The pace of adoption of new technologies and digital business models is increasing at unprecedented speed. This is further accelerated by COVID-19. In order to stay ahead of the curve and reap the benefits technology has to offer, organisations have embarked on a digital transformation journey. As a result, organisations are exposed to new digital vulnerabilities. In the meantime, the business has become digital and is thus dependent on technology, making an effective approach to cybersecurity more important than ever. In order to keep up with the rapidly evolving technology and business services landscape, the cybersecurity and risk management functions need to transform and digitise the way risk management is performed. Doing this efficiently and effectively requires re-thinking the cyber risk function to ensure the cyber risk mitigation effort is in line with the digital ambitions of the organisation. In order to maintain stakeholders' trust, user friendly cybersecurity and privacy practices must be seamlessly integrated into everything we do.