How Are Most Organizations Measuring Risk Against Cybersecurity Threats?

Traditional cybersecurity monitoring only lets you know what it’s catching, not what is missed. This can give you a false sense of security that your tools are getting the job done while leaving you with significant gaps. Cyber assessments and checklists tend to focus on tools, but fail to provide real insights into risk and how SecOps teams actually perform against real-world threats.

How should you be measuring risk?

Quantifying risk is an essential part of any effective risk management strategy because it provides an objective evaluation of exposure. Quantifying risk also gives you a way to evaluate your cybersecurity ROI to help determine the best way to allocate spending.

For example, one survey of CISOs showed that organizations are relying on as many as 55 to 75 discrete security products, yet attacks continue to escalate and penetrate defenses. 71% felt they had more tools than their teams could effectively manage. Unfortunately, this could accentuate this sense of security while allowing threat actors to find the gaps that might go unnoticed in the thousands of daily alerts.

Quantify risk by calculating ROI

Despite economic uncertainty, 65% of organizations expect to increase their cybersecurity spending. However, there will likely be continued pressure to justify expenses and a need to closely evaluate tools and processes.

While you need to quantify risk and take appropriate steps to minimize it, you must also spend efficiently. By calculating the ROI in investing in security, organizations can determine if the benefits of the security tools outweigh the costs and allocate resources more efficiently. Measuring ROI can also demonstrate the value of cybersecurity to stakeholders and help secure funding for future security initiatives.

Many companies are spending more than they need to on tools that may duplicate services while leaving holes in their cybersecurity protection. 

Others have strong tools in place but may fall short when it comes to robust processes necessary for incident response, staffing, and skill sets to deal with threats.

Regardless, people, processes, and tools must all work together efficiently to provide comprehensive protection and mitigate any damage from cyber-attacks.

Do you know your cybersecurity ROI?

As data breaches are becoming more common and more expensive, analysts expect the average cost of a data breach in 2023 to rise to $5 million. With threats also expected to rise by as much as 60% this year, understanding your risk is more important than ever.

With companies now spending about 12.7% of their IT budget on security, organizations need to know whether they are spending efficiently. Do you know your ROI on investing in security?

How to quantify your threat exposure

So, how do organizations better understand their exposure and more efficiently allocate resources? The answer is threat exposure management

SightGain is the first automated threat exposure platform that continuously tests and improves your security posture. It evaluates your tools, processes, and SecOps team using real-world live-fire training against emerging threats. Through SightGain you can see how much risk is reduced from each of your investments.

The data you need to optimize security investments

For CISOs and CIOs, SightGain provides empirical data that will help optimize your security investments. The SightGain Threat Exposure Management platform provides verifiable data about your security technology, processes, and people. Going beyond breach and attack simulations, you can continuously improve your security posture against current threats and optimize your costs.

Improve threat detection and reduce spending

On average, companies deploying SightGain see an improvement in threat detection by a remarkable 900% while cutting their budget on cyber tool spending by up to 20%.

With SightGain, you can automatically:

  • Quantify risks, including the likelihood and financial impact of breaches
  • Find security gaps and redundancies in your people, processes, and technology
  • Measure the effectiveness of your SOC analysts against real threats
  • Conduct live-fire testing and training of analysts in your production environment

Improve and optimize your security posture. Schedule a demo today and see SightGain in action.