Leading the charge in cyber risk mitigation: From gut feeling to objective evaluation
In today’s digital landscape, cybersecurity transcends mere IT concerns; it’s a fundamental business risk that impacts revenue, operations, reputation, and competitiveness. Despite this, many organizations still heavily rely on subjective methodologies, often missing critical threats lurking within data silos, shadow IT realms, outdated software, and supply chain vulnerabilities.
Transitioning from intuitive decision-making to a data-driven risk assessment approach is not as disruptive as it may seem. Even in the presence of legacy systems and scattered data, the shift towards objective evaluation is entirely feasible. A recent survey of cybersecurity professionals by Ivanti highlighted common hurdles, such as limited visibility and the prevalence of end-of-life (EOL) software, showcasing challenges that can be overcome with the right strategies.
The encouraging news is that organizations need not undergo massive overhauls to enhance their risk management practices. By implementing structured frameworks, leveraging AI-powered analytics, and adopting incremental changes, businesses can realize tangible benefits like quicker decision-making, clearer priorities, and measurable resilience without unnecessary complications.
Common roadblocks — and the way forward
Almost every organization encounters barriers on the path to effective risk assessment. It’s tempting to rely on incomplete information, especially when resources are scarce and data is fragmented. Subjective approaches, while prevalent, often fail to uncover latent risks like unmanaged shadow IT or outdated assets. Acknowledging these pitfalls is the initial step towards addressing and remedying them effectively.
Objective evaluation, empowered by exposure management platforms, amalgamates enterprise-wide data, contextualizes risks based on real business impact, and utilizes structured frameworks and AI-driven analytics to yield measurable outcomes. However, despite the advantages, many organizations struggle to rigorously apply their risk tolerance frameworks due to challenges like limited data access and talent shortages.
Steps to modernize your cyber risk approach
Ivanti’s Exposure Management Strategy Guide provides actionable steps for organizations to modernize their cyber risk management:
– Conduct an inventory of cybersecurity tools and leverage readiness checklists.
– Assign asset criticality scores using internal data.
– Prioritize vulnerabilities based on risk exposure scores, merging probability and impact.
– Perform cost-benefit analyses on mitigation strategies versus risk acceptance.
– Regularly review risks and controls to adapt to evolving threats.
Metrics that matter
Enhancing risk evaluation can be achieved by incorporating key metrics like:
– Asset criticality scores: Assessing assets based on their business value.
– Vulnerability exploitation likelihood: Focusing remediation efforts on high-probability threats.
– Risk exposure scores: Combining probability and impact to align with risk frameworks.
– Time for detection and response: Shortening response times to mitigate risks efficiently.
– EOL software usage rate: Monitoring and reducing outdated assets, especially in high-risk sectors.
– Data silo integration progress: Measuring improvements in visibility across IT and Security domains.
How artificial intelligence (AI) drives smarter risk decisions
Different AI capabilities play distinct roles in enhancing risk management:
– Generative AI synthesizes vulnerability and threat data, generates business context reports, and creates risk framework templates.
– Agentic AI automates inventory tasks, prioritization processes, and ongoing risk scoring, effectively identifying assets in shadow IT and cloud environments. Human oversight remains essential for validating outputs and setting thresholds.
Inside Ivanti’s exposure management platform
Ivanti’s suite, comprising Ivanti Neurons for risk-based vulnerability management (RBVM), external attack surface management (EASM), and patch management, offers:
– Continuous discovery and prioritization based on impact and probability.
– Automated identification of external exposures, encompassing shadow IT, cloud environments, and third-party risks.
– Data aggregation from endpoints, networks, and software as a service (SaaS) solutions.
– Seamless integration for patch management.
– Collaboration tools for cross-functional teams.
The results of utilizing Ivanti’s platform include reduced response times, minimized blind spots, and improved objective metrics. Users of the platform have reported a significant year-over-year enhancement in data integration.
Your action plan for measurable cybersecurity
To bolster your organization’s cybersecurity posture, consider the following steps:
– Download Ivanti’s exposure management strategy guide and Risk Appetite Statement Template.
– Utilize the Exposure Management Readiness Checklist to identify visibility gaps.
– Reach out to Ivanti to initiate your journey towards achieving measurable, objective cyber risk management.
Cybersecurity as a strategic business enabler
Businesses that embrace objective, data-driven cyber risk assessment gain resilience, make informed resource allocations, and secure a long-term competitive advantage. With the right tools and strategies, cybersecurity can transition from being perceived as a cost center to a strategic business enabler.
To learn more about how Ivanti can assist your organization in adopting an objective approach to managing and assessing cybersecurity risks, visit their website here.