Geopolitical, environmental, sociological, and technical unpredictability continues to influence today’s modern global business landscape. An increasing volume of confidential documents travelling across interlinked and integrated systems fuels the consequent cyber risk scenario. CISOs should cooperate in developing resilience via pragmatic security investments following organisational growth goals, as they are increasingly required to speak the vocabulary of the board and the company parallel to the language of security.
Usually, data breach research suggests that it takes more than 200 days to notice a breach, which is often found by third parties instead of internal systems or surveillance. As per TechJury, 30,000 web pages are hacked each day, with 64% of all businesses globally having encountered at least one cyber-attack.
Organizational executives must aid improved management all across the firm in knowing what goes into secrecy and protection by design in order to precisely tie cybersecurity with the company’s business strategies. Start changing the discussion from money and effort to a much more efficient security infrastructure aimed at increasing company value and better customer experience.
The 4 Primary Setbacks of not Using Continuous Control Monitoring
Monitoring teams are currently inundated with data — but not always with the correct info to discover what actually should be the primary focus. Engineers can be more purpose-driven in the data they are capturing by bringing a business-driven strategy to cyber risk detection with the help of analysts. Some challenges that some executives may face before opting for Continuous Control Monitoring solutions can be described as:
Numerous data sources cause poor data quality: Special care is to be taken to invest in understanding the data from multiple sources and storing it in a commonplace removing redundancies for easy reporting. Continuous control monitoring itself does not cause poor data quality, but poor data quality can impact the effectiveness of continuous control monitoring systems. If the data being monitored is inaccurate or unreliable, it can lead to false alarms or missed anomalies. To ensure that continuous control monitoring systems are effective, it is important to have high-quality data and well-designed processes for data collection, storage, and analysis.
No tracking of agreement and expense management: Understanding where resources are expended on a daily basis, and determining whether the company is utilising the advantages of trusted vendor agreements, refunds, discounts, as well as other advantageous deals, is an essential element of cost control. CCM solutions can assist firms in adhering to regulations and agreements while maximising the value of such agreements. For instance, CCM might identify vendor partnerships in which the business may be writing several small cheques (an expensive habit) and advocate the usage of a P-card or a trusted vendor arrangement, that is more valuable and simple to administer.
No identification of the actual company needs: Organizations often forget the actual security needs and measures that an organization needs to take as a preventive method. CCM involves ongoing assessment of security systems, processes and data to identify vulnerabilities, deviations from established policies and procedures, and potential threats. This information can then be used to inform decision-making and prioritization of security efforts, enabling organizations to proactively address potential risks and ensure the protection of sensitive information.
Inability to find a strong business case for CCM implementation: Detailed requirements including the scope have to be drawn as part of the plan. All the key stakeholders have to be identified and taken into confidence before building the solution. In general, a strong business case should include a comprehensive analysis of the potential benefits and costs and a clear understanding of the potential risks and challenges. It should also demonstrate that the investment in continuous control monitoring is aligned with the overall business strategy and objectives. The strength of the business case will vary depending on the specific circumstances, but it should be robust enough to justify the investment and support decision-making…… READ OUR ENTIRE BLOG BY CLICKING HERE!