Palo Alto, Calif., United States:
Safe Security Inc., international chief in cyber danger quantification and administration (CRQM), in the present day introduced the Return on Security Investment (ROSI) Calculator, a brand new module of the SAFE platform. Using the ROSI Calculator, CISOs, CFOs, CEOs and Boards can, for the primary time, measure a return on funding for his or her cybersecurity applications. Using API-driven know-how, Safe Security’s ROSI Calculator routinely collects knowledge from the group’s cybersecurity instruments to present real-time prioritization of essentially the most price efficient cybersecurity investments.
This press launch options multimedia. View the complete launch right here: https://www.businesswire.com/news/home/20221004005335/en/
(Graphic: Business Wire)
Safe Security’s crew of information scientists, cyber risk intelligence and monetary danger analysts have spent the final three years creating this calculator. The firm’s analysis reveals that the highest three actions to scale back monetary danger due to a cyber assault are: encrypting knowledge at relaxation, having a complete and examined business continuity plan, and a robust backup answer. According to Safe Security’s findings, taking these three actions can scale back a corporation’s monetary danger by 30-40%.
“Corporate spending on cybersecurity is expected to grow nearly 12% per year for the next five years1 while the cost of cybercrime will cost organizations up to $10 trillion by 20252. Organizations are finally understanding that spending more money on cybersecurity controls does not mean they are less likely to suffer from a cyber attack,” stated Michael Coden, Associate Director of Cybersecurity at MIT Sloan, an advisor to boards and one of many Top 50 Cybersecurity leaders of 2022. “The industry requires a new way to maximize the impact of cyber investments, and Safe Security’s ROSI Calculator is an innovative tool to address this need. Taking a Loss Distribution Approach, a method used for hundreds of years by financial institutions to calculate risk, Safe Security is enabling organizations to establish an accurate cyber budget with reportable ROI.”
Safe Security’s ROSI Calculator supplies essentially the most correct and well timed danger calculations through the use of AI-enabled Bayesian Networks, aggregating cybersecurity knowledge from IT programs in real-time, and taking a look at inner cyber resiliency measures. Using the Safe Security ROSI Calculator, organizations acquire the flexibility to evaluate and prioritize totally different cyber initiatives primarily based on particular monetary danger discount components, and put together for business danger discussions with the board, the CFO or the CEO. The calculator additionally creates a method to evaluate protection, mitigation, response and restoration controls towards cyber insurance insurance policies, masking your complete lifecycle of cybersecurity choices.
Phil Harris, Research Director, Governance, Risk, and Compliance Services at IDC, added, “There is a significant market need to simplify cyber risk quantification and the associated business discussions. In the hands of a CISO, or a MSSP for example, an intuitive and simple to use platform like the one offered by Safe Security that supports and empowers cybersecurity leaders to up-level their business acumen, is a very promising solution.”
Existing strategies for reporting ROI of cybersecurity applications and quantifying cyber danger at present out there are troublesome to use, time consuming, and imprecise due to point-in-time insights. By connecting the Safe Security ROSI Calculator immediately into the cybersecurity instruments inside a corporation’s programs, the gathering of essential knowledge is considerably simplified – lowering time, assets, and human judgment, and bettering accuracy by means of steady, real-time danger assessments.
“Safe Security’s mission is to help CISOs, C-suite, and Boards use their cyber budgets to increase business value,” stated Saket Modi, co-founder and CEO of Safe Security. “Our customers have been able to focus their cyber investment dollars on the most critical priorities by leveraging Safe Security’s platform and ROSI Calculator to quantify and maximize the reduction of their cyber risk. This capability has provided a level of clarity in board reporting around cybersecurity risk and budgets not previously possible.”
For a deeper understanding of the ROSI Calculator, obtain the factsheet right here.
Safe Security has gained momentum this previous quarter with the current bulletins of the corporate’s free CRQ Calculator and industry-first free assessments that present monetary danger calculations for cyber assaults and cyber insurance discussions.
Meet the Safe Security Team
Safe Security can be on the following occasions. To schedule a demo or a time to meet with us, click on right here.
- NACD Summit 2022 – Oct. 8-11 in Washington, D.C.
- FinCyber Today 2022 – Oct. 9-12 in Scottsdale, Arizona
- Cyber Risk Insights Conference 2022 – Oct. 25 in New York City
About Safe Security
Safe Security Inc. is a frontrunner in cybersecurity and digital business danger quantification administration, with a mission to construct a safer digital future. Safe’s cyber danger quantification and administration (CRQM) platform allows organizations to handle cyber dangers in real-time. Its platform routinely collects indicators from inside and out of doors an organization’s surroundings to give the company-specific cyber danger ranking, or SAFE Score, the monetary influence of a possible breach, and an motion plan. This allows organizations to have a standard language throughout groups – from the board all the best way down to an analyst – to align with a constant danger metric. Other advantages embody justifying investments in cybersecurity and buy of cyber insurance for the group. For extra info, go to https://www.safe.security/.
1https://www.gartner.com/document/4009714
2https://www.weforum.org/agenda/2022/01/achieving-cyber-resiliency-in-today-s-digital-frontier/
View supply model on businesswire.com: https://www.businesswire.com/news/home/20221004005335/en/
