Information Security Risk Assessment Solutions
Determining actual and potential vulnerabilities in your IT infrastructure is critical to ensuring that company operations run smoothly today and in the future. Performing an information security risk assessment evaluates the degree to which your IT systems are susceptible to attacks and breaches, measures the financial consequences that breached data can have on the company, and identifies the appropriate steps to take to protect systems and their sensitive data.
When’s the Best Time to Conduct a Risk Assessment?
Because information security risk is not static, risk assessments should be performed throughout the lifecycle of a company’s IT infrastructure.
Performing a risk assessment before and after an upgrade, for example, will ensure that new vulnerabilities were not added along with the new hardware systems and software applications. Risk assessments conducted at periodic intervals can determine how well your IT infrastructure can defend itself against the ever-changing nature of attacks lurking on the dynamic information technology threat landscape.
The importance of running security risk assessments to prevent the theft of sensitive information — and the subsequent financial fallout — cannot be over-emphasized. In 2014, massive breaches into Sony Pictures Entertainment and JPMorgan Chase resulted in over 1 billion records of personal identifiable information being stolen, which led to huge financial losses and lost business, highly publicized headlines and ruined reputations.
The average loss resulting from stolen records containing sensitive and confidential information increased from $145 per record in 2014 to $154 in 2015. In particular, the retail industry’s average cost jumped dramatically from $105 per record in 2014 to $165 in 2015.
And 2016 is seeing no reprieve. Research conducted by the Ponemon Institute shows that the total cost of an information systems breach for the 383 companies participating in the survey averaged $4 million, a sizable increase from $3.79 million in 2015. Moreover, the $154 per record cost in 2015 increased to $158.
Information Security Assessments and Management With MSP Risk Intelligence
While identifying risks in your IT infrastructure is critical, choosing the right solution is even more important. A weak, inappropriate, or overly complex tool can ignore vulnerabilities. This gives a false sense of security until the inevitable consequences of security risks expose themselves.
MSP Risk Intelligence is the right solution at the right time for organizations of all shapes, sizes and budgets. It protects organizations using a quantified financial risk assessment that is solidly backed by the industry’s most comprehensive suite of tools for mitigating risks.
MSP Risk Intelligence conducts real-time network scans that look for sensitive data, vulnerabilities and inappropriate access permissions. Unlike traditional risk-assessment tools, which narrow their focus to specific areas such as financial, security, safety and compliance, MSP Risk Intelligence provides a holistic information security risk assessment by:
- Determining what is at risk and from what sources
- Identifying the consequences of the risk and the probability that it will recur
- Determining whether appropriate resources exist for managing risk
After collecting this information, MSP Risk Intelligence places an exact dollar figure on the amount of exposure and liability being carried by your systems. By putting risk in financial terms, you build an exceptionally compelling case for taking the necessary steps to resolve the vulnerabilities.
Layered Security Frameworks and Best Practices
After financial stakeholders buy into the importance of securing IT resources, you can deploy an information security strategy that has MSP Risk Intelligence at its core. By offering the most comprehensive layered security solutions on the market today, SolarWinds MSP (formerly LOGICnow) delivers unparalleled proactive, detective, and reactive security.
A few of SolarWinds MSP's proactive security strategies include:
- Providing web protection that protects users against malicious websites
- Managing service packs, fixes, and patches for over 40 Microsoft® and 80 third-party application families
- Stopping incoming email threats such as malware attachments, phishing, ransomware and spam
A proactive approach covers only one security facet. The other layers require tools to respond to threats that slip through the first line of defense.
Cyberattacks come in many forms and from many directions. Once they breach a network, they can follow any number of exploited paths as they probe deeper into the IT infrastructure and arrive at their target: personal identification information, usernames and passwords, medical or financial information, customer databases and other sensitive data.
SolarWinds MSP has a layered information security architecture for combatting these multidimensional assaults. This architecture delivers different safeguards at various points of a potential breach to enhance a company’s security posture, allow them to restore systems quickly, and resume business continuity after the threat has been removed.
Key to this layered security approach are features such as:
- The best managed antivirus and malware protection in the industry
- Configurations to deny access to unauthorized users who try to force their way onto systems
- Using active device discovery to stop rogue devices before they cause harm
- Backup and retrieval operations, which recover lost or stolen data in minutes following a disaster
- Local backups that mitigate data loss by backing up and restoring data at LAN speeds, even without an Internet connection
- Virtual server recovery to restore business continuity after an attack on physical computers, servers and workstations
- Hybrid cloud recovery which stores data in on- and off-site data storage for complete protection from all disasters
Mitigate IT Security Risks with SolarWinds MSP
MSP Risk Intelligence is a patented and non-intrusive solution that focuses on threats resulting from access permissions, sensitive data, and general vulnerabilities. Workplace devices — such as PCs, Macs, and even mobile devices — are scanned at a deep level to reveal current and potential vulnerabilities, the existence of sensitive data, PCI compliance, and more. The information collected from this data breach risk scan is balanced and prioritized to arrive at a color-coded, dollar-based risk assessment report that shows the financial consequences that a data breach can inflict.
Information is categorized into meaningful categories such as:
- Unprotected data summary, details, and statistics
- Vulnerability summary and vulnerability by vendor details
The report also provides drill-downs that allow you to obtain granular information about the suggested fixes for improving a company’s information security risk posture.
MSP Risk Intelligence offers an eye to the future by using risk-trend reports to identify and investigate emerging trends in your workplace. If these trends are assessed to be workforce risks, proactive mitigation can be performed before the full impact of the risks are realized. Risk-trend reports also enable you to assess the impact of implemented risk strategies.
In this way, MSP Risk Intelligence provides you with all the tangible evidence you need to build a convincing business case for protecting your data investment. And if the financial stakeholders are still reluctant to commit to a risk-assessment strategy, the report generated by MSP Risk Intelligence will allow you to focus on patching the most critical areas first and addressing less critical threats at a later time.
About SolarWinds MSP
SolarWinds MSP delivers the only 100% SaaS, fully cloud-based IT service management (ITSM) platform, backed by collective intelligence and the highest levels of layered security. SolarWinds MSP’s products — including Risk Intelligence, Remote Management, Backup & Recovery and Mail Protection — comprise the market’s most widely trusted integrated solution.
Deployed on millions of endpoints across hundreds of thousands of networks, the platform has the industry vision to define and deliver the future of the market. SolarWinds MSP provides the most comprehensive IT security available as well as LOGICcards, the first ever IT notification feature powered by prescriptive analytics and machine learning.
SolarWinds MSP’s passion is helping IT professionals secure and manage their systems and data through actionable insights, rewriting the rules of IT. For more information, visit www.solarwindsmsp.com.
Santa Cruz County Bank: https://www.sccountybank.com/pdf/SantaCruzCounty_EBrochureBus.pdf
Security Intelligence: https://securityintelligence.com/cost-of-a-data-breach