Digital Transformation Brings New Risks
Although digitalization has led to business growth, it also brought a new range of technology risks that need to be understood and managed.
Impact of Cyber Risks
When a single incident can lead to millions of dollars in losses in a matter of months, cyber risk has become a source of major concern for business executives and corporate boards.
Lack of Financial Accountability
The status quo of measuring risk in qualitative terms is no longer sustainable when examining cybersecurity spending. Teams must now translate cybersecurity risk into financial terms.
Compliance is Not Enough
Compliance only provides a minimum level of security. Only by assessing cyber risk in financial terms, can organizations assess their top risk and prioritize the most effective risk mitigation initiatives.
Benefits of Quantifying Cyber Risk
Speak the Language of the Business
Help the board and the business understand the potential financial impact of cyber events and provide the business rationale for implementing certain security measures and the related investments.
By putting a price on risk, you can assess what cyber events represent the biggest risk to your business and what security initiatives are the most effective in reducing risk and should be prioritized.
Justify the Value of Cybersecurity
Support key business initiatives such as digital transformation, new product launches and M&A by identifying which security architecture reduces risk to an acceptable level, cost-effectively.
eBook: An Executive's Guide to Cyber Risk Economics
Three time CISO and creator of the FAIR™ model, Jack Jones provides a high-level introduction to managing cyber risk from the business perspective. You’ll learn how the FAIR model powers cost-effective analysis for security initiatives on par with other forms of Enterprise Risk Management.Download the eBook