Risk Assessment and Management Software Tools
Risk assessment software tools help MSPs and IT professionals provide meaningful and measurable steps to identify, assess, and eliminate data security risks. No motivator provides a greater incentive than money — specifically, the financial loss an organization stands to incur if it suffers a breach, data loss, or other event brought on by a risk that went unidentified, unmitigated, or ignored.
What Is Risk Analysis?
Risk assessment makes an organization a better place to work, a more secure place to collaborate and achieve enterprise goals, and a safer partner with which to join forces and conduct business. Risk assessment achieves these objectives by determining the likelihood and consequences of risk events if they occur in an organization.
Typically, these assessments take into account how an event can impact a company financially, affect schedules, and delay performance objectives and goals. The results of this evaluation are used to take actionable steps that protect organizations from the relentless and evolving cyberthreats on today’s dynamic attack landscape.
What Kind of Risks Do Businesses Face?
Risks run the gamut from physical security vulnerabilities and gaps in security operations to holes that set the stage for data breaches, fraud, noncompliance with regulatory and federal standards (such as HIPPA, PCI, SOX, DSS, FISMA, DIACAP, STIGs, PPSM, CCRI, and NERC-CIP), and everything in between. The realistic goal of risk assessment is to promote the overall data security of an organization by limiting or reducing all of these vulnerabilities to a manageable level.
MSPs must identify and plug leaks in a company’s infrastructure before they turn into floods that can ruin company finances, damage its reputation, and place the company on the front pages along with Sony, Anthem, LinkedIn, and other victims of serious data breaches.
The Move Toward Risk Management Software
The risk of data breaches facing businesses today has never been higher, with nearly 50% of organizations suffering at least one security event in the past 12 months. Companies have taken notice by increasing their attention to risk assessment software tools for safeguarding workforce data that is relevant to business delivery.
MSPs who want to compete in today's marketplace need to have the tools that directly address the wide variety of security risks facing enterprise data.
Assessing Financial Implications of Risk
One of the primary challenges facing MSPs is convincing your clients' accountants, CFOs, and other financial decision-makers about the time-critical nature of essential infrastructure protection and the need to act now.
The best way of imparting that important message is to explain the company’s exposure to risk in terms of dollars. And no risk assessment tool conveys that message more clearly than MSP Risk Intelligence from SolarWinds MSP (formerly LOGICnow).
MSP Risk Intelligence assigns concrete dollar amounts to a company's data sensitivity, making it much easier to build a business case in support of a multi-layered data security approach.
Some of the features of MAX Risk Intelligence software tools include:
- Risk assessments illustrated in dollar-based figures
- Discovery of sensitive data
- Deep system scans for hidden vulnerabilities
- Risk trending reports
- Discovery and alerts for inappropriate data access
- PCI compliance scans
Companies typically amass huge amounts of sensitive data, which means that a risk assessment software tool such as MSP Risk Intelligence is vital to providing actionable steps to sensitive data protection and vulnerability reduction.
MSP Risk Intelligence Software Tools From SolarWinds MSP
MSP Risk Intelligence focuses on three types of essential threats: threats resulting from inappropriate 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 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, down to the dollar, the financial consequences that a data breach can inflict on the organization.
Information is categorized into meaningful categories such as the unprotected data summary, vulnerability summary, unprotected data details and statistics, 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 risk level.
MSP Risk Intelligence also provides 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 security strategies and policies.
Software Tools for a Layered Security Strategy
MSP Risk Intelligence provides you with the first step in executing a comprehensive layered security strategy. Once you've assessed a company's data security risks, you can develop a plan that includes proactive, detective, and reactive security measures, including:
- Web protection against malicious websites
- Patch management for a host of application families
- Mail security for all enterprise email threats
- Managed antivirus that offers the ultimate in malware protection
- Failed login checks and active device discovery to keep hackers and rogue devices from accessing client networks
- Backup and disaster recover for local area networks, hybrid cloud backup, virtual server recovery and backup for physical servers and workstations
In order to continuously assess and improve your clients' network security, LOGICcards from SolarWinds MSP use machine learning and big data analytics to constantly scan and analyze billions of endpoints across hundreds of thousands of networks in order to pinpoint vulnerabilities or irregularities. This advanced data analysis allows you to prevent problems even before they happen, using insights on security, efficiency, collective industry intelligence, and tips and advice on how to optimize the features of software tools such as MSP Remote Management.
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. Our MAX products — including Risk Intelligence, Remote Management, Backup & Disaster Recovery, Mail and Service Desk — 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.
Our passion is helping IT professionals secure and manage their systems and data through actionable insights, rewriting the rules of IT. For more information, contact us today.
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