Almost like the hidden cracks that eventually compromise the structure of the submarine, any unidentified risks can place the security of a company at risk, making it prone to cyberattacks. Any flaws within the security network impacting the integrity of data, availability, and confidentiality stand as a risk to any organization. The companies contending with numerous risks, from outdated software to weaker passwords, will impact the intricate data of the company. It is where third party risk management programs should be in place to safeguard the integrity of an organization.
Integrating Automated Vulnerability Management into Cybersecurity Frameworks
By: Beaconer, Apr 29, 2024
Content
As reported by CRA Business Intelligence, about half of the respondents, around 45%, said that they are greatly concerned regarding the risks associated with the next 12 months. Companies should undertake greater proactive and aggressive steps towards risk management with the growing attacks surfacing with increased risks.
In our post today, we will look into the effective management of risks, the steps involved, and the best way to implement them for a robust risk management program using automation.
Importance of Vulnerability Management
It is noted that during the initial week of 2024, the global online users found 612 latest common IT security risks and exposures. The top-most reported annual figure recorded in 2023 to more than 29,000. Risk or vulnerability management is the essential feature involved with risk management. Assessment of the environment for the technical and operational risks can help to plan for and determine the right implementation of the risk controls.
Vendor risk assessment involves activities like discovering, segmenting, and emphasizing risks to manage exposure. Discovering vulnerabilities and analyzing the real cause of the risks is essential. Vulnerability management helps the company develop extensive knowledge about the risk profile and controls that must be implemented for risk mitigation and prevention of repeated vulnerabilities.
Identifying Vulnerabilities
The initial step in vulnerability management, including third—and fourth party risk management, is identifying the weaknesses in your systems. This is generally performed through automated tools that scan and crawl the network, systems, and applications to locate the known risks. It is essential to conduct regular scans while new risks are constantly being discovered.
Different services, including managed digital risk protection services, can help you attain awareness of new threats and common cyber security risks. These augment the existing cyber security controls, addressing gaps in the visibility of digital threats outside the corporate boundary.
Steps In A Vulnerability Management Process
Although there are numerous variations in the approaches in firms, the important steps involved in the vulnerability management process comprise the following:
Identification
One of the critical stages involved with the vulnerability management program involves the identification. Mainly, the step comprises of identification and assessment of possible risks existing in the systems. Knowledge about the weaknesses might lie as you work at addressing them before they get exploited by hackers and other nefarious actors.
It is the step that involves scanning for risks or penetration testing to check out the existing risks.
Undertaking the proper identification of the possible weak points can help businesses undertake proactive steps to boost cyber security and protect their key data. It is important to address and identify the risks now rather than try and clear the mess since the cyber attack that has occurred.
Analysis
After the stage of discoverability is finished, it is time to initiate the analysis that is found. It is the essential stage of risk management to aid businesses in better understanding things that are discovered. It is the time whenever it is required to take a deeper dive into collecting data and initiate gathering the trends and patterns.
Analysis can assist in identifying the weaker spots in your key defenses while anticipating possible future threats. The analysis can assist you in emphasizing points where you can invest your resources and time.
Treatment
The analysis and the identification can help you with the identification of possible risks present in the systems with the other stage to figure out whatever you are performing with them. These risks are handled in a couple of ways involving migration, remediation, and acceptance.
Remediation
Remediation is the key attribute involved with treating threats that should never be overlooked. Importantly, it indicates the procedure of solving the security issues that were identified, whether it is through constant scanning or through the security incident.
It involves everything right from a software updates to implementing robust access controls with the goal that minimizing the chances of attack. The perks involved with remediation are transparent as they can help in preventing data breaches, failures of the system, and other issues that can never harm your business. If you wish to stay a step ahead of the possible threats and safeguard the organization from harm with remediation, that is worth considering.
Migration
Migration is the key tool that helps businesses using at safeguarding themselves. Migration indicates moving from one platform or system to reducing or eradicating the threats or vulnerabilities.
It involves transitioning to the new and secured technology with the changes in the configurations or settings to enhance security. Migration is specifically effective whenever handling end-of-life systems that might not receive security patches or updates. It is beneficial while dealing with specific risks that are complex to mitigate through different means.
Acceptance
It is often a bit strange; however, acceptance is sometimes the ideal treatment option. Acceptance involves acknowledging the vulnerability or threat but deciding that it is not the best time, resources, or potential to mitigate it completely.
The approach might appear counterintuitive however it can save businesses their money and time with the ongoing maintenance of the acceptable amount of risk.
Is Automation The Best Option?
Cybersecurity is the thing that each business should look at. With the growing digitalization of the world, safeguarding the sensitive data of the company and the systems is a need.
Automated vulnerability or risk management is a robust solution for the identification of possible risks within the systems and network to check each nook and cranny for weaknesses. Automated risk management is almost like a hero who has got your back safeguarding you against the possible cyberattacks.
Implementation of automated risk management solutions offers better peace of mind, helps you stay ahead of cyber threats, and enables you to aim for business growth.
Conclusion
The integration of vulnerability management platform with the combined response and threat detection platform helps the analyst of an organization to trigger the ad-hoc scans without the need for using other technologies. It is the integrated approach that saves you time, allowing the team to take more remediations instantly to limit the exposure and minimization of risks.
Author Bio
Nagaraj Kuppuswamy
Nagaraj Kuppuswamy is the Co-founder and CEO of Beaconer, an esteemed enterprise specializing in managed third-party risk using the cloud native AI based solution. With an extensive portfolio of accolades and industry certifications, Nagaraj stands out as a seasoned expert, boasting over 16 years of dedicated involvement in the field of Cybersecurity. Throughout the course of their career, he has predominantly focused on elevating the realm of third-party risk assessment.
