March 7, 2019 - Melbourne, Australia and Spokane, WA USA: PwC Australia and RiskLens, a provider of risk quantification software and risk management solutions, today announced a collaboration to help Australian organisations better evaluate and make decisions for managing IT, information security and operational risk. As part of the collaboration, PwC Australia will bring to clients a robust suite of risk quantification services leveraging the RiskLens software-as-a-service (SaaS) platform, the only enterprise software built on the globally accepted Factor Analysis of Information Risk (FAIR) standard. Services will range from assisting clients with specific risk management pain points to developing and operationalising a robust approach for ongoing risk analysis and management.
The RiskLens platform is built on the FAIR standard - now being used by more than 4,000 leading professionals in security and risk, and represented within 8 out of the Fortune 10, a further 75 percent of the Fortune 50 and nearly 30 percent of the Fortune 1,000 organisations. Australia’s FAIR community is growing rapidly, with the FAIR Institute, the community governing body overseeing global FAIR adoption, recently assisting in the creation of two Australia FAIR Member Chapters - in Sydney and Melbourne in which PwC Australia is actively involved.
"RiskLens is experiencing an explosion of interest across the globe," said Nick Sanna, Chief Executive Officer at RiskLens. "We're excited to be collaborating with an organisation like PwC Australia to support this surge in worldwide demand. With this relationship, organisations across all sectors will be able to express their IT and information security risks in financial terms through quantitative analysis, instead of relying on qualitative analysis which traditionally does little to uncover true business or operational risk. This will help to drive better visibility into an organisation’s loss exposure, and will enable organisations to make better decisions regarding the prioritisation of controls and related investments. We are proud to be working with PwC Australia, and are excited for what this relationship means for the future of risk management."
The collaboration with RiskLens further enhances PwC Australia’s risk management and risk quantification capability by enabling the team to leverage an enterprise platform for analysis and reporting.
Peter Malan, a Partner at PwC Australia said "As we continue to assist our clients with maturing their approach to risk management, our collaboration with RiskLens is instrumental to how we provide those services in a meaningful way. Traditionally, risk management has been more ‘art’ than ‘science’. Combining our proven approach in risk management, and specifically risk quantification through the use of the RiskLens platform, we are not only helping our clients mature their risk management practices, but allowing them to do so in a data driven and sustainable way."
About PwC:
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
About RiskLens:
RiskLens is a provider of risk quantification software. Its platform is recognized as a key business application for IT, information security and risk teams across the Fortune 1,000. RiskLens empowers large enterprises and government organizations to manage cyber risk from the business perspective by quantifying that risk in monetary terms. Clients depend on RiskLens solutions to better understand and decipher their cyber risk exposure in financial terms, prioritize their risk mitigations, measure the ROI of their security investments, and optimize their cyber insurance coverage. RiskLens is the only cyber risk quantification software purpose-built on FAIR, the standard quantitative model for information security and operational risk. For more information visit the RiskLens website at www.risklens.com.