CyberGRC - How To Proactively Safeguard Organizations from Cyber Risk & Comply with Industry Standards

Organizations are facing an increasing number of IT & Cyber risks, supply chain attacks, and data breaches. Rapid adoption of cloud, digital transformation, and the lack of real-time visibility of risks has drastically increased the exposure of the organizations. To add to that, organizations have to adopt multiple frameworks and standards (NIST, ISO 27001)1 , comply with HIPAA2 , PCI -DSS, and successfully complete SOC2 certification requirements to meet audit and customer requirements. Since there is significant overlap between these frameworks, the goal is to “Test once, comply with many”.

Threats and vulnerabilities are on the rise and require identification, assessment and proactive remediation. Compliance is a must, but controls aren’t something that’s put in place and left alone - continuous control monitoring is essential to stave off risk. And, risk isn’t contained with the enterprise. Vendors and suppliers are a significant source of cyber risk, and vendors must be continually evaluated and monitored.

Today’s processes for dealing with IT and cyber risk are less than ideal. Many organizations still rely on spreadsheets and email-based processes, resulting in errors and duplicate effort. There are mounting costs and fatigue in meeting certification and reporting requirements because of repeated requests for similar information by the IT Risk and Compliance teams. Organizations are spending too much time on maintaining checklists and collecting audit evidence and not enough time forward-looking activities.?

Furthermore, CISOs and CIOs3 must communicate the Cyber Risk posture of the organization to other executives. Non-technical audiences want clarity and simplicity: what are the top risks, what are they worth in financial terms, how are they addressed, and how does the risk posture change quarter-by-quarter. In addition to quantifying their risks to communicate them, cyber risk leaders must prioritize both their investments and their risks, and need quantifiable, financial insights to do so.

CISOs and CIOs are also tasked with creating a culture of cybersecurity. A broad and diverse user base has to follow general IT security policies, and security and system admin teams have to know with certainty which procedures to follow.?

Managing all these requirements and risks the traditional way - using siloed systems and manual processes - is neither effective nor efficient. CISOs and CIOs must be able to stay one step ahead, proactively anticipating and minimizing IT and cyber risk.

MetricStream CyberGRC

MetricStream CyberGRC helps organizations rapidly implement an effective, efficient IT and Cyber Risk and Compliance Framework. Align the organization with established security standards, comply with confidence, pass IT audits efficiently, and get buy-in from senior executives with a consistent, quantified view of the organization's cyber risk posture. With pre-packaged content such as ISO 27001, NIST CSF, and NIST SP 800-53, the IT Compliance program is up and running quickly. With Advanced Cyber Risk Quantification, express your cyber risk exposure in monetary terms.?

Accurately determine the monetary impact of cyber risks like data breaches, identity theft, infrastructure downtime, etc. with support from the FAIR model and better prioritize cyber investments. Tightly integrate IT policies through mappings to IT controls, and continuously monitor controls for risks and issues. Assess and prioritize risk with best-practice frameworks and advanced risk quantification. The result is an IT Risk Management System that is implemented faster, more efficient to operate, and widely accepted.