By Resha Chheda
We are thrilled to announce that Safe Security has been recognized as a Sample Vendor in the Cyber Risk Quantification (CRQ) category in the 2024 Gartner® Hype Cycle™ for Cyber Risk Management. This recognition underscores our commitment to providing cutting-edge solutions that help organizations effectively manage and mitigate cyber risks.
The Importance of Cyber Risk Quantification (CRQ)
In today’s complex cybersecurity landscape, it’s no longer sufficient to simply identify and patch vulnerabilities. Chief Information Security Officers (CISOs) are under increasing pressure to translate cyber risk into financial terms, demonstrating the return on investment (ROI) of their security initiatives and justifying their budgets. This is where CRQ plays a pivotal role.
CRQ allows security leaders to quantify cyber risk in dollars, euros, or any other local currency. By doing so, CISOs can clearly communicate the financial impact of cyber risks to executives and stakeholders, prioritize risks, and align cybersecurity efforts with broader business objectives. Gartner has highlighted the significance of CRQ, noting that it supports a comprehensive cyber risk management framework by facilitating communication with risk owners and executives.
Safe Security’s Comprehensive Capabilities
Safe Security stands out in the CRQ space by offering a comprehensive approach to cyber risk management, which includes:
- Unified, Singular Visibility
The SAFE One platform gathers data from various asset classes, including internal systems, external environments, cloud infrastructures, user behaviors, and digital assets. By integrating and analyzing this diverse data, we provide a unified view of the organizational attack surface. Our platform identifies vulnerabilities, cloud misconfigurations, EOL systems, application risk findings, weak passwords, and open-source software vulnerabilities, ensuring no risk goes unnoticed.
- Prioritizing Vulnerabilities Based on Risk
Our advanced risk prioritization engine goes beyond traditional severity ratings. It incorporates factors such as threat levels, existing security controls, exploitability, and business impact to prioritize vulnerabilities. This risk-based approach significantly reduces the number of critical vulnerabilities, enabling security teams to focus on the most pressing threats. Additionally, our platform integrates findings from Breach and Attack Simulation (BAS) tools, penetration tests, and red team exercises to further refine risk prioritization.
- Mobilizing Fixes with Advanced AI
Safe Security leverages advanced AI technologies to accelerate the remediation of identified risks. Our platform offers actionable “next best steps” to guide security teams, creating projects assigned to the appropriate owners and tracking progress through a visual dashboard. Our AI-powered conversation assistant, SAFE AI, provides tailored, role-specific guidance to different stakeholders. For example, a CISO may receive high-level insights on risk impacts and mitigation strategies, while IT personnel get detailed technical instructions on patching vulnerabilities.
Furthermore, Safe Security’s built-in CRQ capabilities enable CISOs to understand risk distribution, track trends, and benchmark their organization’s risk posture against industry peers. This not only enhances executive communication but also demonstrates the effectiveness of risk management strategies.
The Demand for Effective Cyber Risk Management
As the digital landscape evolves, the attack surface expands, making traditional vulnerability management approaches obsolete. It’s imperative that security operations evolve, shifting focus from merely patching vulnerabilities to assessing and remediating exposures, which include both common vulnerabilities and exposures (CVEs) and non-CVEs.
According to the Gartner® Hype Cycle for Security Operations, 2024, Security and Risk Management (SRM) leaders face the challenge of obtaining visibility into organizational attack surfaces and prioritizing findings. SecOps leaders must manage exposures across IT, operational technology (OT), and cloud environments. EAPs enable SecOps leaders to break these silos, delivering a unified platform for visibility, prioritization, and mobilization of vulnerabilities and exposures.
Accelerating Cyber Risk Management with Safe Security
Gone are the days when security budgets grew exponentially year over year. Today, every CISO must report on the effectiveness of their security program. However, many CISOs are ill-equipped to do so. Safe enables security leaders to translate cyber risk into financial terms, allowing them to demonstrate the ROI of their mitigation efforts and justify spending. Safe Security’s recognition in the 2024 Gartner® Hype Cycle™ for Cyber Risk Management is a testament to our innovative solutions and unwavering commitment to excellence. As cyber threats continue to evolve, it’s crucial for organizations to adopt a proactive, risk-based approach to cybersecurity.
See Safe in Action here or Contact us for a demo and discover how our innovative approach can enforce your cyber risk management strategy.
