As the risk profile of an organization frequently changes, the ability to make data-driven decisions on where to focus your organization’s cybersecurity efforts is more important than ever before. By prioritizing new technology investments based on risk reduction, you can optimize your organization’s cybersecurity ROI. Once you have assessed your current cybersecurity posture and identified your cybersecurity gaps, you should be asking yourself the following types of questions:
With BitSight Financial Quantification for Enterprise Cyber Risk, it’s faster and easier than ever to assess and communicate how your organization’s financial exposure changes as you invest in controls to improve your security posture. Powered by Kovrr’s proven models developed for cyber insurance, our solution delivers an efficient and easily repeatable means to quantify your organization’s cyber risk financially.
Armed with these insights into your probable maximum loss, you can make more informed decisions around which risks to accept, mitigate, or transfer — and where to focus your team’s limited time, resources, and budget to achieve the greatest security performance impact.
In order to create informed plans of action to execute on your organization’s security goals, you need the right performance data at your fingertips. This requires moving beyond point-in-time, compliance-based reviews of your cybersecurity program so that you can effectively track performance over time.
That’s where BitSight Security Ratings come in, making it easier than ever to assess your real-time security posture across risk vectors that fall into the following four categories: compromised systems, diligence, user behavior, and public disclosures. Based on independent, objective, and comparable data, this standardized KPI empowers you to evaluate the effectiveness of your current security program and develop strategic plans to address any security performance gaps.
BitSight Financial Quantification for Enterprise Cyber Risk complements your security rating by using multiple data sets from real-world cyber events to simulate financial exposure across the following business impact scenarios:
The context and visibility provided through this combined set of metrics uniquely enable you to view cyber risk through the lens of the potential business impact — and facilitate resource prioritization and future planning with increased confidence.
Armed with data-driven insights into your organization’s security performance and financial exposure, you can present a clear, outcome-driven plan to business leaders on how to continuously improve your program and get the most out of your cybersecurity investments.
Interested in learning more about how Financial Quantification for Enterprise Cyber Risk empowers you to streamline your process for making informed business decisions? Read our latest ebook, Establishing a Universal Understanding of Cyber Risk With Financial Quantification.
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