Cyber-attacks are a worldwide problem that companies face, but most companies are not taking the needed precautionary efforts. The impact of a major cyber-attack to an organization’s brand, reputation, and business operations can be catastrophic. Weaknesses in information security can jeopardize your mission, threaten your profitability, and invite fines and penalties from regulatory bodies.
To effectively address cyber-security, an organization’s approach must be holistic. Technology alone is not the solution, you also need to factor in process and people. The foundation of a cyber-security strategy is built from a thorough assessment to identify and mitigate risks that could lead to a cyber attack.
Governance, Risk and Compliance is the cyclical integration of risk assessment, compliance with standards to mitigate risk, and oversight of continuous compliance monitoring. Organization need an automated tool to stay up-to-date with regulatory compliance or industry standards. The tool should also offer a drastic reduction of time in a risk assessment that they need to perform with a broader range of governance and cyber-security frameworks to work with.
A good cyber-security tool can take a 360 degree view of the organization’s cyber-security program in areas such as process, people and technology. It should be able to identify all the gaps within the organization and help them transform their inefficient processes across their organization into a unified Governance, Risk and Compliance program that will stay up-to-date with regulatory compliance/industry standards. It can also help conduct third-party vendor risk management by allowing you to streamline the process with a centralized solution with minimal effort using an automated tool.
A good product can help IT Security and Risk Management leaders address the following pain points:
- How can I identify the organization’s security and compliance vulnerabilities with the limited time/resource/budget that I have?
- Am I compliant with the latest regulations?
- Do I have the right plan, processes and technologies in place to address them?
- Am I prioritizing and focusing my limited security resources and budget on the areas where they can do the most good?
- How can I quickly leverage the best security framework and align it to my organization’s objective to build my road-map?
Cyber-security is no longer a security team’s problem, it is a problem that everyone in the office will have to contribute in. But products are constantly being developed to help ensure all companies have the potential to become cyber-secure and be better protected. With the increase of technology comes an increase on cyber attacks, it is important to be secure now instead of an unfortunate event happening to your company later.