Risk-based reporting, as opposed to compliance-based or incident-based reporting, is the approach best suited to reducing an organization’s actual exposure to cyber threats. Following this type of approach can help individuals and teams at all levels of an organization — from practitioners to board members — focus on the most significant issues without falling victim to alert fatigue and ignored warnings.
When it comes to the report itself, a risk-based cybersecurity report delivers findings in context, helping the recipient understand what role a number plays in the overall risk landscape of the organization. This context may include anything from comparison to past performance to financial quantification of cyber risk to alignment to cybersecurity frameworks within your industry. Armed with these insights, security professionals at every level of your organization can make more informed, data-driven decisions around where to distribute limited budget and resources.
When reporting cybersecurity to the board, executives often have to tackle the difficult task of putting technical concepts into context for non-technical individuals. Taking a risk-based approach is critical here, because doing so empowers them to relate their findings back to cyber risk and the potential financial implications of that risk — in a language that makes sense to the business.
Security leaders can also deliver more compelling presentations by including a strategic component. This may involve laying out a roadmap of short-, medium-, and long-term goals for their organization’s security performance management program — and putting reported metrics into the context of those goals. Doing so empowers executives to prove the effectiveness of a particular solution over time.
It’s clear that taking a risk-based approach to cybersecurity reporting can play a vital role in your ability to present metrics in context for maximum impact.
Interested in learning more about the techniques, software, and methodologies that are revolutionizing the reporting process at every level of the organization? Check out our ebook, A Practical Guide to Risk-Based Cybersecurity Reporting.
There’s no question about it: Being exposed to cyber risk is an inevitable part of doing business in today’s world. In fact, a recent ESG study found that 82% of organizations believe that cyber risk has increased over the past two years.