As cyber threats are on the rise, many business organizations have been forced to take the necessary precautions. The cyber risk management platform has been a source of help during this trying time. This platform empowers both the public and private sectors to protect their assets and reduce the impact of cyberattacks.
This platform also helps business organizations identify any assets at risk and threats that can affect them. It also analyzes and evaluates the cyber threats to your information and operating system to implement a suitable level of protection.
In this article, we will consider some risk assessment tools or platforms and their unique individual features for various businesses.
Cyber Risk Management Platform
The threat of cybercrime grows as more activities throughout the world go online. As a result, companies need to take precautions to safeguard themselves from potential digital attacks since they are exposed to new dangers and vulnerabilities. Your company may be exposed to third-party risk while working with external stakeholders and conducting business with them.
Managing cyber-attacks, the risk management platform enables companies to evaluate various aspects of their cyber risk, searching at a potential severity for each type of risk that may likely occur. Protecting your system against any potential cyber-attacks on your business’s success.
Top Cyber Risk Management Solution Platforms
Since companies need to assure their clients that whatever information they send over will be in safe hands and ensure that their data is secure.
Here are some platforms or tools to solve cyber risk management for various businesses:
ZecGRC
There are two main types of GRC management systems that are available for organizations:
- Cloud-based
- On-premise
Yet, ZenGRC is exceptional in terms of these two alternatives for availability. Both alternatives for this GRC solution are offered to corporations.
Businesses of all sizes from various types of industries such as IT, Technology, Retail, and Health care. Consumer goods and Finance can benefit from this GRX solution.
However, risk and errors relating to compliance and brand can be significantly reduced with the aid of this solution for admins in charge of the audit and compliance division.
Also, it allows users to automate processes related to compliance within the application through the workflow module. The audit module may be used with the data gathering and compliance reporting features in order to remark on controls.
Features of ZecGRC
There are different features that the solution offers, that make this ZecGRC appropriate for various industries. They are as follows:
- Compliance Management
- Risk Assessment
- Audit Management
- Automated Audit Evidence Collection
- Routine Compliance
- Policy Management
- Contract Management
- Risk Reporting
- Creation of new compliance programs
These are some of the key features why you consider using ZenGRC for various businesses.
Cloud GRC
With its top-notch security solutions, Cloud GRC is one of the best security solutions on the market right now. Cloud GRC offers an extensive experience and enterprise in key areas. The expertise areas are as follows:
- Risk Assessment
- Frameworks
- Threat Assessment
- Security Strategies
- Cloud Security
- Data Privacy Management
- Continuously Identify Assurance
- Regulatory Compliance Requirements
Many firms are becoming increasingly concerned about cybersecurity, and in order to secure their operations and employees, it is critical that these problems be resolved right away.
Features of Cloud GRC
Cloud GRC possesses some key features that offer solutions to cyber risk management for various industries. They are as follows:
- Centralized Controls
- Automation
- Managing governance
- Task delegation
- Risk Management
- Scalability
- Flexibility
- Customizable reporting
- Support for future standard
These are the various feature of Cloud GRC making it suitable for different businesses.
Active Risk Manager
One of the most complete risk management solutions is Active Risk Manager. With the help of this technology, businesses may manage risk at many levels, including corporate, project, and operational.
The Active Risk Manager comes with a cloud-based platform that provides several tools. For effective risk management, medium to large-sized enterprises is best suited for this security solution.
Here are some tools that this platform provides:
- Security controls
- Incident management
- Comprehensive auditing
- Configurable risk alerts
Nevertheless, the ARM SNAPPit mobile incident management module gives users of this security solution the option to report an incident involving a variety of projects.
Features of Active Risk Manager
There are different features available in Active Risk Manager to various businesses in a broad range of industries. They are as follows:
- Audit management
- Internal controls management
- Compliance management
- Risk assessment
- Response management
- Legal risk management
- Operational Risk management
- Corrective and preventive Actions
- Exceptions management
These are the various feature of using Active Risk Manager.
Resolver Risk Management Software
This software provides enterprises across a wide range of industries and business needs with a cloud-based solution to manage risk. Resolver is one of the largest risk management software companies in the world.
Below are some essential things that Resolver Risk Management software enables you to accomplish. It helps to:
- Manage mitigation plans
- Manage risk aversion
- Manage forecasts
- Manage budgets
One of the goals of cybersecurity risk management tools is to make it easier to connect risk and incident assessments to what really occurred at the time. Resolver uses cloud-based software that is compatible with desktops, tablets, and smartphones in order to assist you in resolving conflicts.
Features of Resolver Risk Management Software
The features of this Management Software are listed below. They are:
- Enterprise management
- Vendor risk
- IT risk management
- IT Compliance
- Threat protection
- Regulatory compliance
- Security risk management
- Internal audit
- Command center & dispatch
- Incident management
These are all the various feature that this software offers.
Pathlock
Many customers all around the world rely on Pathlock’s solutions to automate crucial security and access control elements in this cybersecurity risk management tool.
In addition to its many other features, the following is a summary of some of the most crucial ones it offers:
- The qualification of risk for the reporting of SODS
- Access control management and user certification
- Management of application vulnerability
- Defining and implementing user roles
It is not surprising that the top businesses in the world rely on Pathlock for their security requirements. However, to “put money back in the books”, this technique reduces fraud and identifies ineffective procedures.
Features of Pathlock
The following are the remarkable features that pathlock allows you to do. They are as follows:
- Centralization
- Better performance
- Integrated view
- Improve decision-making capabilities
- SIEM integrations for SOCs
- Financial controls monitoring
- Seamless Integration
- Control and Visibility
- Risk quantification
These are the features available on pathlock to use for a variety of businesses.
Conclusion
The decision to implement one of the 5 top cybersecurity risk management systems we have just seen benefits the company. Yet, to be completely honest, these instruments have no drawbacks. With any of this software, you can safeguard various types of business financial details and more against any form of cyber-attack.
FAQS
What is the Purpose of Cyber Risk Management?
Companies use cybersecurity risk management to make sure the most serious threats are dealt with quickly. Based on the potential harm that each danger could cause, this method aids in the identification, analysis, evaluation, and mitigation of threats.
What is the First Approach in Cyber Risk Management?
The most important digital assets inside the firm must be identified as the first step in developing a cyber risk management plan. Computers, networks, business systems, data, and other digital assets that could be targets for cybercriminals are common examples.
what are the Four Pillars of Risk Management?
At De Montfort University, Professor Hazel Kemshall created the “4 Pillars of Risk Management” strategy to plan and implement risk management. The four pillars of supervision, monitoring & control, interventions & treatment, and victim safety planning form the basis of the paradigm.
Which is the Most Used Tool For Risk Analysis?
The risk matrix, decision tree, failure modes and effects analysis (FMEA), and bowtie model are the four often used risk assessment tools.