CISOs have come to realise that installing all the hardware and technology that money can buy doesn’t make you more secure. Deploying more security controls doesn’t always equate to a reduction in cyber threats.
The scope of information security is much more complex than simply rolling out a host of technological solutions. By managing risks effectively, the company can avoid spending blindly on solutions that aren’t properly focused.
Although one can’t deny the importance of having effective antivirus solutions, firewalls, intrusion detection and spam filters, it is at least as important to identify the critical information assets that require protection, determine the range of risks that threaten the security of those assets, and then work out appropriate ways of defending those assets.
That’s why the risk assessment is a critical part of the information security puzzle
An information security risk assessment takes a systematic approach to data risks, enabling the organisation to tailor-make specific controls for individual data assets. Data assets include customer records, employee information, intellectual property, trade secrets and also physical (hard) data, all of which are dealt with in a unique way by different people and teams.
A risk assessment report is a “to do” list for correcting specific problems that threaten overall information security. It offers a snapshot of your organisation’s security posture, helps to prioritise your efforts and offers a baseline for measuring future progress.
By developing a formal approach to managing risk, the organisation is able to plan and justify its information security spend, using the results of the risk assessment. There is no point investing £100,000 on a £5,000 problem.
By engaging with the business, the risk assessment can paint an accurate picture of the extent to which every piece of data is being handled, ensuring that the right fixes are applied for each scenario.
A prudent approach to risk management enables the organisation to garner essential information about the state of information security and identify exactly what needs to be done to mitigate risks.
A tool such as vsRisk™, which helps to automate a significant part of the information security risk assessment, can accelerate the time it takes to deliver a risk assessment report dramatically. Providing a range of built-in control sets, a comprehensive database of typical threats and vulnerabilities, as well as a full set of customisable policies and procedures to support the selected controls, vsRisk delivers a professional risk assessment painlessly.