Updated: Feb 21
Vladimir Boianji, ISSP Enterprise Solutions Director discusses why your organization should establish effective threat and vulnerability management that lead to reducing costs and help to ensure compliance with industry standards.
A strong security posture is essential for any organization. According to Statista, in 2022 the highest reported number of common vulnerabilities and exposures (CVEs) were discovered globally – more than 22.5 thousand. In comparison, in 2009 the annual figure was four times less – 5.7 thousand. One of the best ways to ensure a secure environment for your organization and protect systems from potential threats and vulnerabilities is to establish effective threat and vulnerability Management (TVM).
Here are the top five benefits of effective TVM for your company:
1. Real-time Overview of Vulnerabilities and Quick Response. According to the Check Point Cyber Security Report 2021, three out of four attacks took advantage of at least two years old vulnerabilities. And 18% of attacks exploited vulnerabilities that were disclosed more than seven years. Edgescan 2022 Vulnerability Statistics Report reveals that organizations take nearly two months to remediate critical risk vulnerabilities.
Effective TVM provides organizations with the visibility and reporting capabilities needed to identify and respond to threats quickly and accurately. It helps to identify potential risks and vulnerabilities in an environment and take action to mitigate them as soon as they are detected. If you want to check out the functionality of ISSP Security Operations Center (SOC) to manage vulnerabilities please follow the link.
2. Enhances Visibility and Reporting. With TVM, organizations can create reports that provide a comprehensive view of their security posture. Absolute indicators in this case are not relevant. It is necessary to take relative operational performance metrics, for example, the number of recorded events to defined incidents, or the relative value of processed detections to their total number. Organizations need clear and understandable KPIs and a balanced scorecard that directly relate to the detection and response process. TVM also enables organizations to monitor and respond to changes in their environment, such as changes in technology or the emergence of new threats.
3. Gain Operational Efficiencies. By leveraging TVM capabilities, organizations can reduce the costs associated with security and compliance. TVM helps automate processes and reduce the time and resources needed to maintain an effective security posture.
4. Maintain Compliance. TVM helps organizations comply with industry regulations and standards, such as the Payment Card Industry Data Security Standard (PCI DSS) and the Health Insurance Portability and Accountability Act (HIPAA). It also assures that an organization is meeting their compliance requirements and helps to prevent potential fines or penalties.
5. Establishes Trust with Stakeholders. Trust is essential for any organization, especially when it comes to cybersecurity. TVM helps to build trust with stakeholders by assuring that the organization is taking the necessary steps to protect itself from threats and vulnerabilities. This is particularly important as the number of supply chain attacks that exploit well-known and widespread open-source vulnerabilities, such as Log4Shell, has been increasing dramatically the recent years. According to Argon Security report, software supply chain attacks grew by more than 300% in 2021 compared to 2020. Venafi announced the findings of a global study of 1,000 CIOs, in which 82% say their organizations are vulnerable to cyberattacks targeting software supply chains. To sum up, effective TVM measures minimize the risk of supply chain attacks and help to build trust with customers, partners, and other stakeholders, which is essential for long-term mutual success.
So, TVM provides organizations with the tools to protect their systems from threats and vulnerabilities and its benefits are numerous. With TVM, organizations can reduce security costs, maintain compliance, and establish trust with stakeholders. Additionally, TVM provides organizations with the visibility and reporting capabilities needed to respond to threats quickly and accurately. This helps to ensure that organizations can protect their systems and data from potential threats and vulnerabilities.
But not to forget that building TVM is a relatively continuous, ongoing effort rather than an instant cybersecurity solution. Keeping your organization safe is a multi-stage process one needs to develop step by step. We would suggest starting your cybersecurity journey by conducting a Pentest. You can learn more and request a quote via the link.