Cyber Security Risk Management

Driving growth with cyber security risk management

As organizations become more dispersed and rely more heavily on outsourcing, managing cybersecurity risk has become increasingly difficult. Yet with increases in the number of cybersecurity threats and volume of attacks, the need for superior cyber security risk management has never been greater. When organizations can manage cyber risk more effectively, they are free to focus on innovating and driving business growth.

As the world’s leading Security Rating Service, Bitsight provides solutions that help to dramatically improve cyber security risk management programs. Through security ratings, broad measurement, continuous monitoring, and detailed planning and forecasting, Bitsight can help to measurably reduce cyber risk while making cyber security and risk management a facilitator of growth and a competitive differentiator.

The 4 key tasks of cyber security risk management

To develop an effective cyber security risk management program, focus on these four key cyber risk best practices.

1. Involve senior management

When senior executives and board members are involved in cyber risk management conversations, it’s far easier to get departments and employees to buy into security efforts as well.

2. Identify most valued data

Your most valuable data may take many forms and may vary by industry or line of business. It may include sensitive customer or patient data, intellectual property, and data that ensures reliable operations.

3. Limit access

Limiting the number of people who have access to valuable data can help to reduce your attack surface. Begin by identifying the data that each employee can access and determine whether that level of access is important. By closely monitoring employees with access to highly sensitive data, you can ensure that it is used for only necessary and legitimate purposes.

4. Implement technology

The right tools make cyber security risk management less complex and more successful. The most effective tools allow you to monitor both your own security efforts and those of your third parties in real time.

Cyber security risk management with Bitsight

As the leading Security Ratings solution, Bitsight helps organizations evaluate risk and security performance by employing the same outside-in model used by credit rating agencies. Bitsight provides the objective metrics and tools to measure and mitigate cyber risk across the business ecosystem.

Bitsight Security Ratings provide a data-driven and dynamic measurement of cybersecurity performance for organizations and third parties. These daily ratings, derived from objective and verifiable information, provide continuous insight into security performance based on evidence of compromised systems, user behavior, diligence, and data breaches. With Bitsight Security Ratings, organizations can move from cyber security risk management programs based on time and policy toward an outcome-based model that is more efficient and effective.

Bitsight’s cyber security risk management solutions

Bitsight Security Ratings provide the data and intelligence that drives several use cases.

Bitsight for Security Performance Management uses broad measurement, continuous monitoring, and detailed planning and forecasting to enable a risk-based, outcome-driven approach to risk management.

Bitsight for Third-Party Cyber Risk Management provides immediate insight into third party cyber risk within your supply chain, including the riskiest issues impacting your vendors.

Bitsight Security Ratings for Cyber Insurance enables carriers, reinsurers, risk managers, and brokers to pinpoint and measure the risk involved in underwriting cyber liability.

Bitsight for Critical National Infrastructure enables governments, National Law Enforcement organizations and CERTs to improve cyber security risk management by measuring, monitoring, and investigating risks within key sectors and critical infrastructure companies.

Why choose Bitsight?

An industry-leading solution

Bitsight is the world’s leading provider of cyber risk intelligence, transforming how security leaders manage and mitigate risk. Leveraging the most comprehensive external data and analytics, Bitsight empowers organizations to make confident, data-backed decisions and equips security and compliance teams from over 3,300 organizations across 70+ countries with the tools to proactively detect exposures and take immediate action to protect their enterprises and supply chains. Bitsight customers include 38% of Fortune 500 companies, 4 of the top 5 investment banks, and 180+ government agencies and quasi-governmental authorities, including U.S. and global financial regulators.

Extensive visibility

Bitsight operates one of the largest risk datasets in the world. Leveraging over 10 years of experience collecting, attributing, and assessing risk across millions of entities, we combine the power of AI with the curation of technical researchers to unlock an unparalleled view of your organization. Bitsight offers more complete visibility into important risk areas such as botnets, mobile apps, IoT systems, and more. Our cyber data collection and scanning capabilities include:

• 40 million+ monitored entities
• 540 billion+ cyber events in our data lake
• 4 billion+ routable IP addresses 
• 500 million+ domains monitored
• 400 billion+ events ingested daily
• 12+ months of historical data

Superior analytics

Bitsight offers a full analytics suite that addresses the challenges of peer comparison, digital risk exposure, and future performance.

Ratings validation

Bitsight is the only rating solution with third-party validation of correlation to breach from AIR Worldwide and IHS Markit.

Quantifiable outcomes

Bitsight drives proven ROI with significant operational efficiency and risk reduction outcomes.

Prioritization of risk vectors

Bitsight incorporates the criticality of risk vectors in to calculation of Security Ratings, highlighting risk in a more diversified way to ensure the most critical assets and vulnerabilities are ranked higher.

FAQs: What is cyber security risk management?