Understanding and managing cybersecurity risks is paramount and security ratings have emerged as a pivotal tool in this endeavor, offering insights into an organization’s cybersecurity posture and that of their third-party associates. There are multiple cybersecurity ratings companies, including FortifyData, BitSight and SecurityScorecard. This blog delves deeper into the multifaceted role of security ratings, emphasizing the importance of monitoring both internal and external cyber risks, as well as their other use cases.
Security ratings are essentially a measure of an organization’s cybersecurity health. They are derived from a variety of data points, including known vulnerabilities, historical cyber incidents, and other relevant factors. These ratings are often compared to credit scores, but instead of assessing financial risk, they evaluate cyber risk.
Security ratings play a critical role by providing:
The Evolution of Cybersecurity Ratings and How They Can Boost Risk Visibility
FortifyData is at the forefront of cyber risk management. Our comprehensive platform performs automated risk assessments, both internal and external, as well as for cloud environments and third-party entities. By continuously analyzing cyber threat intelligence, likelihood, and business impact, FortifyData provides a prioritized view of cyber risks. This not only aids organizations in understanding their security posture but also in managing risks within specific business units.
Furthermore, FortifyData emphasizes the importance of continuous assessments, especially for critical vendors, highlighting the fact that a vendor’s exposures can directly impact the organization. In essence, the FortifyData platform offers businesses a holistic view of their cyber risk landscape.
In summation, security ratings are not just a metric; they are a compass, guiding organizations through the intricate maze of cybersecurity. By understanding and monitoring both internal and third-party risks, businesses can fortify their digital frontiers, ensuring resilience and continuity in an ever-evolving cyber landscape. With platforms like FortifyData, organizations can further enhance their understanding and management of cyber risks, ensuring a safer digital future.