Vulnerabilities are on the rise, and it's not just the number that's growing; the severity of these vulnerabilities is also increasing. Cybercriminals are taking advantage of these vulnerabilities to launch sophisticated attacks, leading to data breaches, ransomware, and other devastating cyber incidents.
Many organizations struggle to keep up with the growing number of vulnerabilities, with quantitative research suggesting that vulnerability management is one of the most critical things cybersecurity leaders can implement to reduce the risk of a cybersecurity incident. Despite the risks, new Bitsight research shows that vulnerability management programs are struggling to keep pace with the rate at which new vulnerabilities are discovered.
Moreover, organizations face significant challenges in managing vulnerabilities and other risks in their extended, third-party ecosystem, and most security leaders do not have the tools to address these emerging threats. This creates a major challenge when organizations look to notify impacted third parties quickly and at scale. Organizations often resort to a manual process without evidence of exposure, sending out mass emails and untargeted spreadsheet questionnaires, with little prioritization making it even more difficult to assess and address risk.
These vulnerabilities are a serious concern for stakeholders, including customers, business partners, investors, and regulators. Partners want to work with secure, trustworthy businesses and expect that their investments will not be negatively impacted by a cybersecurity incident. Building, maintaining, and communicating a strong cybersecurity program is critical to establishing trust with these stakeholders.
Cybersecurity leaders need innovative, holistic solutions to help them identify their attack surface, improve their vulnerability management programs, and communicate their effectiveness to stakeholders. Prioritizing exposure management and investing in effective tools and workflows are essential to reducing the likelihood of a cyber incident and creating a more trusted organization.
Read our full report to gain insight into the risks described above and what you can do to protect your organization from cyber threat actors.