Prioritize Response by Financial Impact and Risks that Matter the Most with RQ Automated Cyber Risk Quantification

ThreatConnect Risk Quantifier™ (RQ) prioritizes cyber risk in monetary terms based on financial impact. Automation saves time and resources needed to model comparative security scenarios allowing for better business decision-making and collaboration.

Why Quantify Cyber Risk by Financial Impact?
Prioritize Cyber Risk by Financial
Impact
Make Better Decisions with Security Scenarios
Rank CVEs by Financial Risk to the Business
Recommendations Based on Top Security Frameworks

Why Quantify Cyber Risk by Financial Impact?

Security leaders are a part of board-level discussions about cyber-risks and keeping critical business operations secure. They need a better way to express what gaps in security controls, unpatched CVEs, and top threats mean to the business in financial terms. Regular security metrics don’t tell the story of prioritization – how security scenarios compare in terms of financial risk in monetary terms that the business can understand and prioritize.

This isn’t a one time event. Security leaders are continuously required to show solid numbers and be able to discuss loss exposure and how they are reducing risk over the long term.

“About 40 percent of the boards of directors will have a dedicated cybersecurity committee overseen by a qualified board member by 2025, up from less than 10% today”

Make Better Decisions to Reduce Cyber-Risk and Prioritize Response by Financial Impact

RQ automates the generation of financial cyber risk reporting as it relates to your business, cybersecurity initiatives, and controls. RQ leverages your inputs and multiple data sources such as regulatory data, insurance claims, financial data, breach reports and a wealth of security and threat intelligence. When the data is applied to the risk model, you receive objective, automated outputs in the areas of:

  • Communication of cyber risks in monetary terms that helps the business make better decisions to reduce risk  
  • Prioritization of cyber risks and CVEs by financial impact and loss exposure they represent to the business
  • Automated security scenarios to compare the business trade-offs between security controls and risk reduction vs. customer experience objectives 

Apply Relevancy and Context to Prioritize CVEs by Financial Risk

“Out of 300 IT professionals surveyed by the Ponemon Institute, 72% said they had difficulty in prioritizing what needs to be patched. Sixty percent of those surveyed indicated that breaches at their organization were linked to a vulnerability where a patch was available, but not applied.” 

RQ provides an industry first by prioritizing CVE’s by their potential financial impact should an exploit or attack be successful on a crown jewel asset. It enables security teams to focus on financial risk rather than severity scores that may or may not be relevant to you. This is especially true when security teams are inundated with alerts all professing high severity scores.

As any security analyst knows, a 10 does not necessarily mean a 10 across all businesses.

That is why RQ prioritization of CVEs is so important for security teams right now. You can focus on the vulnerabilities that matter the most to the business. The result? Clear demonstration of how your security team is driving down risk for the organization.

Compare Security Scenarios for Better Business Collaboration to Reduce Financial and Cyber Risk

It is not easy to decide what are the right trade-offs between optimal customer experience and the security controls needed to secure customer data.

These conversations require a monetary value to quickly shape positive outcomes. This allows the business to understand the implications of introducing new digital applications and potential areas of loss exposure and financial risk.

What if analysis allows you to answer the tough questions and discuss outcomes using real-world financial analysis and monetary values to show the cyber risks associated with:

  • What is the ideal security state for the business and what are the financial risks of not being there?
  • If the addition of new entities, either through merger and acquisition, digital customer experiences or other activity affects  inherent (known) risks of existing applications. It helps you communicate residual cyber-risks and financial impact of your company’s new business initiatives so you can plan ahead.
  • How much financial impact and risk is associated with the launch of new applications without adequate security controls in place.

Best of all, What If analysis is automated based on your industry, top threats, regulations and security control frameworks.

You save hours or weeks of data gathering with the ability to critique rather than create security models. With this automation, it allows you to quickly compare current and proposed security models for better decision making.

Get Prioritized Recommendations Tied to Financial Risk, Loss Exposure, and Security Control Maturity

RQ leverages multiple frameworks that security teams use to measure their efforts against the industry standard. RQ natively supports security frameworks like NIST CSF, ISO 27001, CIS Top 20 and other industry standards.

You can quickly input your security control maturity against the industry standards. The output is a realistic portrait of gaps in your security controls and what that risk means to the organization in monetary terms.

RQ gives security teams a prioritized list of recommendations based on the framework of their choice and the business gets a solid view of the investments that need to be made to drive down cyber and financial risk.

Evolve to Risk-led Security

RQ is priced to accommodate single businesses with multiple applications and scales to support enterprise and MSSP environments that have multitudes of legal entities and hundreds of applications.

Save time by using pre-built models that can be easily tuned to your environment to compare cyber-risk and financial impact across the organization. Group by applications, departments, legal entities, or whatever is most appropriate for your business.

These capabilities enable you to:

  • Report on an aggregated view of cyber risk and financial impact across multiple legal entities and applications
  • Keep business leaders accountable for the level  of security they employ in their digital initiatives
  • Help the business understand what is the  inherent risk between applications and how new digital experiences or M&A activity adds residual financial risk

Get a Demo

Interested in seeing RQ for yourself? Please fill out the form and we will reach out to provide a walkthrough of ThreatConnect Risk Quantifier.