How much Risk do I have and how much will it hurt to be compromised?

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For far too long, cybersecurity leaders have struggled to translate cyber risk into the economic language of business. They’ve been lost trying to protect the business without any concrete understanding of the real risk to the business. But the status quo is rapidly changing and the dark ages of security and technology risk management are coming to an end.

This is thanks to the internationally recognized Factor Analysis of Information Risk (FAIR) model for technology risk quantification. FAIR provides a structured, defensible and repeatable model for risk quantification and it is taking the cybersecurity industry by storm. FAIR is now trusted by more than 5,000 leading professionals in security in risk and represented within 8 out of Fortune 10, 75% of the Fortune 50 and nearly 30% of the Fortune 1,000 organizations.

And ServiceNow and RiskLens are bringing FAIR to life through an integration of the ServiceNow GRC and RiskLens Platforms.

RiskLens is an enterprise ready, Software as a Service (SaaS) platform that enables Security and Risk teams to quantify and manage cyber risk from the business perspective. Purpose-built on the FAIR model, the RiskLens Platform integrates advanced quantitative risk analytics, best-practice risk assessment and reporting workflows; industry specific loss data, and data from your security ecosystem, into a unified suite of applications built specifically for business-oriented CISOs and CIROs.

Through the RiskLens integration, ServiceNow GRC customers are able to invoke quantitative risk assessments directly from ServiceNow and export results of the RiskLens analysis back into the GRC risk register, where they can be managed from the business perspective.

These results can be an analysis of the risk’s current state or a deeper analysis to evaluate risk reduction and mitigation options. Quantifying cyber risk in financial terms allows organizations to manage their cybersecurity programs from the business perspective, providing numerous benefits including the ability to make more informed decisions.

With RiskLens enabled in your ServiceNow GRC, the answers to all of the financially oriented cyber risk questions that currently baffle you are right at your fingertips.

Existing RiskLens subscribers can access the integration for free, and new customers can contact RiskLens for a demo to experience the benefits. The RiskLens integration is available on the ServiceNow Store.

by Bryan Smith, CTO of RiskLens

RiskLens is an IRM Ecosystem partner.  Learn more at www.risklens.com or www.servicenow.com/grc