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The leading research and advisory firm Gartner has named RiskLens in its recent Competitive Landscape: Integrated Risk Management (IRM) report to clients. Gartner defines IRM as “practices and processes supported by a risk-aware culture and enabling technologies that improve decision making and performance through an integrated view of how well an organization manages its unique set of risks.”
RiskLens helps cyber risk decision makers manage cybersecurity from the business perspective by quantifying it in financial terms through a SaaS platform based on the FAIR™ model for risk analysis. Gartner has previously named risk quantification a critical capability of IRM. While RiskLens is not an IRM provider, it is integrated with IRM vendors RSA Archer, ServiceNow GRC and Galvanize.
The IRM report is the latest RiskLens mention in Gartner reporting. Last year, Gartner named RiskLens in two of its influential Hype Cycle reports as a Sample Vendor in the technology solutions category of financial data risk assessment or FinDRA. Gartner gave the category “Transformational” Benefit Rating.
The IRM report sees short- and long-term opportunities in quantification:
“For cybersecurity, delivering support for risk quantification models that are traditionally used for communicating operations risk is a short-term opportunity. Growing scrutiny on cyber exposures will drive demand for security-related business risk quantification beyond the banking, financial services and insurance (BFSI) vertical as means for chief information security officers (CISOs) to improve risk communication in the mid to long term.”
The report adds that, “by 2021, 50% of large organizations will have two or more IRM use cases that leverage automated workflows through IRM vendors, up from 30% in 2017.”
Many organizations are building a “risk-aware” culture using the RiskLens platform, enhanced by professional services from the world’s most experienced team in implementing cyber risk quantification programs. Contact us to learn how your organization can improve communication, decision making and prioritization around risk through quantification in financial terms.
Please note this disclaimer from Gartner:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.