Organizations are taking on more cyber risk than ever before and a large part comes in the form of third-party and fourth-party risk. The news is inundated with data breaches and data leaks and the average cost of a data breach has reached nearly $4 million globally. It's safe to say that the financial cost alone is enough proof to start investing in tools to prevent data breaches. The unfortunate truth is third-parties cause data breaches.
A vulnerability assessment or vulnerability analysis is the process of identifying the security vulnerabilities in your network, systems, and hardware and taking steps to fix those security vulnerabilities. A vulnerability assessment can provide information that your IT and security teams can use to improve your company’s threat mitigation and prevention processes.
Vulnerability Management is the cornerstone of information security programs. Cybersecurity practitioners leverage vulnerability management programs to identify, classify, prioritize, remediate, and mitigate vulnerabilities most often found in software and networks. Vulnerability assessments, while not mutually exclusive with vulnerability management, are generally part of a vulnerability management program in order to identify, quantify, and prioritize vulnerabilities in a system.
Outsourcing, digitization, and globalization have led to new products and services, increased specialization, lower costs, and better access for customers and organizations alike. They've also introduced significant cyber risk, particularly the risk of unintended data exposure in the form of a data breach or data leak. In fact, a recent study by the Ponemon Institute and IBM put the average cost of a data breach at $3.92 million.
Outsourcing, digitization, and globalization have created new products and services, increased specialization, lowered costs, and improved access for customers and organizations alike. The downside is they've introduced cyber risk. Particularly the risk of data breaches and data leaks. In fact, a recent study by the Ponemon Institute and IBM put the average cost of a data breach at $3.92 million.
A major problem with your information technology (IT) systems can totally disrupt your business, costing you time and money while you wait for repairs. An IT audit checklist helps ensure that your IT department has the necessary tools to secure your network and avoid these expensive repairs.
Due to increased outsourcing, digitization, and globalization, vendor risk management has become a top concern for CISOs and senior management around the world. These three forces have led to better products and services for consumers while giving organizations the ability to focus on core competencies while reducing costs and accessing new, global markets. That's the good news, the bad news is these same forces introduce significant cyber risk, particularly data breaches and data leaks.
Outsourcing, digitization, and globalization have made vendor risk management a top priority for CISOs and senior management alike. These forces have led to innovative products and services, increased specialization, lower costs, and increased access for customers and organizations alike. However, they've also introduced significant cyber risk, particularly the risk of unintended data exposure in the form of a data breach or data leak.
In casual conversation, threats, vulnerabilities, and risks are often talked about interchangeably. The reality is that the three are quite different. Threats represent something that might happen. Vulnerabilities show that systems have inherent weaknesses attackers may exploit. Risks keep business owners up at night by shining a light on potential harm inherent in running an enterprise.
