The RiskLens platform has a new capability, Risk Treatment Analysis, that shows decision-makers the ROI on cybersecurity spending. Essentially, the new capability answers the question: How much risk can I buy down for budget invested, and which of my options yields the best value?
RiskLens clients can use the new capability to:
- Decide which new controls or processes are worth investing in to solve a particular security problem.
- Optimize or even responsibly reduce security budgets by identifying which options provide the largest cost reduction while minimizing the impact on risk exposure
- Understand the true costs of maintaining unsupported legacy systems
Risk Treatment Analysis generates reporting in financial, non-technical terms that security teams can confidently present to business management to make the case for new or rebalanced investment. Here’s a screenshot of a detail from a report clearly showing control costs vs. risk reduction:
The RiskLens platform is the only SaaS risk management application purpose built on Factor Analysis of Information Risk (FAIR™) the international standard for quantitative analysis of cyber risk, recommended by the National Institute for Standards and Technology (NIST).
Risk Treatment Analysis is a timely addition to the capabilities of the RiskLens platform. Security teams across all industries and government are being challenged to support digital transformation initiatives around cloud computing AI, a distributed workforce and more fast-moving projects while maintaining acceptable levels of cyber risk exposure -- often with the same, or sometimes even reduced budgets.
As with all the RiskLens platform offerings, Risk Treatment Analysis is supported by the most experienced services team anywhere advising on quantitative cyber risk programs. RiskLens experts will help your team establish an initial set of treatment options for comparative analysis, facilitate the collection of data from your organization and industry sources and train the team on a customized workflow on the platform.
Announcement of Risk Treatment Analysis follows the recent launch of the RiskLens Rapid Risk Assessment capability on the RiskLens platform, enabling analysts to generate, in minutes, lists of an organization's top risks, prioritized by financial impact. RiskLens clients use Rapid Risk Assessment for issue management, quickly turning around decisions on policy review requests, conducting emerging threat analyses, and more.
Risk management teams also use Rapid Risk Assessment to identify and prioritize their top five to ten risks for detailed Top Risk Assessments on the RiskLens platform for a better understanding of loss exposure. With that analysis in hand, they can apply Risk Treatment Analysis to identify the most cost-efficient mitigations for reducing that exposure.
Contact us to learn more about fast, authoritative decision support for cyber and technology risk management through quantitative risk analysis.