An extension of vulnerability management, risk-based vulnerability management (RVBM) is designed to address the weaknesses inherent in digital systems, including software, hardware, and infrastructure. Risk-based vulnerability management uses machine learning to extend vulnerability management, incorporating cloud infrastructure, IoT devices, web apps, and more. This allows businesses access to relevant insights across their entire attack surface. It accomplishes this through:

• Enhanced context
  BVM leverages machine learning and stakeholder-specific data to provide a more nuanced approach to vulnerability management. Traditional systems may incorrectly prioritize vulnerabilities based on generalized scores, failing to account for the unique context of an organization’s assets. For example, a vulnerability deemed critical by industry standards may pose little actual risk if it affects an asset with no sensitive data or access pathways to critical systems. Conversely, a vulnerability with a lower criticality score could be more dangerous if it impacts a high-value asset. By integrating data about how vulnerabilities interact with an organization’s specific environment, RBVM enables more accurate risk assessments.
• Total visibility
  RBVM expands the scope of vulnerability management beyond traditional IT assets, enabling real-time scanning and monitoring across the entire attack surface. Unlike traditional methods that scan on a set schedule, RBVM tools can continuously monitor on-premises systems, remote devices, cloud assets, and third-party applications. This ensures that organizations maintain a comprehensive view of their vulnerability landscape, even as it evolves.
• Automated reassessment
  RBVM also supports automated reassessment of vulnerabilities through continuous monitoring and machine learning. While traditional vulnerability management might require manual scans or tests to reassess risks, RBVM automates this process, allowing for more dynamic and responsive security measures. This helps organizations keep pace with emerging threats and adapt to changing environments, ensuring that their defenses remain comprehensive and effective.

Risk-based vulnerability management also allows for more accurate, risk-based prioritization. Your company can focus first on identifying and repairing the weaknesses that are most likely to result in a breach, leaving less-critical vulnerabilities for later.

Both vulnerability management and vulnerability assessment contribute to effectively addressing and resolving cybersecurity vulnerabilities. However, vulnerability management and vulnerability assessment are not synonymous terms.

A vulnerability assessment is only the first phase of vulnerability management. Most companies use scanning tools to look at devices on their network and collect information about the version of software that is installed and compare it to known vulnerabilities announced by software vendors. Multiple scanning tools, with or without agents or credentials, are typically required to cover the range of software in use (applications, operating systems, cloud service providers, etc.). Companies run scans at scheduled intervals usually monthly or quarterly and then use the list, often emailed as a spreadsheet, to assign upgrade or patching tasks. If a zero-day vulnerability is announced, one which is actively being exploited and for which a patch may not yet be available, a company may launch an on-demand scan that can take days or weeks depending on the size and configuration of their infrastructure.

Conversely, vulnerability management is a lifecycle, not just a scheduled or ad hoc scan. Instead, it is an ongoing program that moves from assessment into prioritization and remediation. It uses multiple data sources to continually assess and reassess the current state of your software and services. By adding business, threat, exploitation, and risk context to the software information generated by the assessment tools, a vulnerability management system can efficiently call attention to the vulnerabilities that must be addressed immediately and even suggest the best solution or mitigation. Constant assessment, evaluation, repair, and reporting on vulnerabilities allows you to manage and address security vulnerabilities on a day-to-day basis. This means that weaknesses can be discovered more quickly, the highest impact issues can be addressed first, and fewer vulnerabilities get overlooked.

Simply put, a vulnerability assessment gives you a snapshot of your IT software stance; vulnerability management offers constantly evolving, real-time intelligence, remediation guidance, and reporting.

As more and more information is created and contained within digital systems, and organizations continue to increase the employment of mobile technologies and IoT devices, new security vulnerabilities are emerging. Here, we look at some of the most relevant statistics related to vulnerability management:

• More than 26,000 new security vulnerabilities were identified and published in 2023. (Infosecurity Magazine)
• In 2023, 28% of vulnerabilities were classified as high risk. (Intel471)
• 98% of organizations work with at least one vendor that experienced a data breach within the last two years. (Harvard Business Review)
• Unauthorized access through unpatched networks and other known vulnerabilities almost tripled during 2023, accounting for 14% of all breaches. (New Jersey Business & Industry Association)
• On average, 55,686 physical and virtual assets are connected to organizational networks, but it is estimated that only 60% of these assets are monitored. (Armis)

There certainly isn’t any shortage of vulnerabilities for threat actors to target. And, given the damage that may result from a data breach, finding and fixing vulnerabilities is absolutely vital—not only in terms of financial loss, but also regarding operational disruptions, damage to customer trust and brand reputation, and even potential legal ramifications.

An effective vulnerability management system provides an important additional layer of protection, giving you the power to manage and correct IT security flaws on an ongoing basis. This carries with it several key benefits: 

Enhanced protection against cyber threats: By continuously identifying and addressing security flaws, vulnerability management helps prevent unauthorized access and potential data breaches. This proactive approach reduces the likelihood of financial losses, operational disruptions, and legal consequences.

• Improved visibility and reporting
  Vulnerability management provides centralized, real-time visibility into your organization’s security posture. IT teams gain accurate, up-to-date insights into potential threats so they can respond swiftly and strategically to emerging threats.
• Regulatory compliance
  A well-structured vulnerability management program helps organizations meet various security standards and regulatory requirements. Regular scanning and remediation efforts ensure that your business stays compliant, avoiding potential fines and legal penalties.
• Operational efficiency
  By proactively managing vulnerabilities, your organization can minimize system downtime and streamline incident recovery processes. This leads to more efficient operations, reducing the impact of security incidents on business continuity.
• Strengthened customer trust and brand reputation
  Demonstrating a commitment to security through effective vulnerability management can enhance customer trust and protect a company’s reputation. Businesses that prioritize security are more likely to maintain positive relationships with their customers and partners.

Vulnerability management is a cyclical process that involves five key stages, ensuring ongoing protection against security threats. These stages are repeated continuously to maintain a strong security posture:

Discover vulnerabilities

The longer a vulnerability remains undetected, the more likely it is to result in a security breach. As such, the first step in vulnerability management should be to identify any and all vulnerabilities across your network—both existing and new. This process involves scanning network-accessible systems, identifying open ports and services, gathering system information, and comparing it against known vulnerabilities. The sooner vulnerabilities are discovered, the lower the risk of a security breach.

Assess vulnerabilities

Once vulnerabilities are discovered, the next step is to assess their potential impact. This involves scanning to understand the state of applications and systems in your environment. Prioritization is crucial here; vulnerabilities should be ranked based on their potential risk to your business, workforce, and customers. Use built-in metrics from vulnerability management platforms, and enrich this process with business, threat, and risk context from internal and external sources. This will help you identify those high-impact vulnerabilities that are most relevant to the safety and continuity of your organization.

Remediate vulnerabilities

After assessing and prioritizing vulnerabilities, your focus should shift to remediation. This step involves addressing the identified vulnerabilities through patching, configuration changes, or other corrective actions. It is important to ensure that there is a clear communication process between security operations, IT operations, and system administration teams, as those responsible for understanding risks may not always have the authority to implement solutions. Establishing a common language and decision-making process is key to effective remediation.

Reassess remediation

Once vulnerabilities have been remediated, do not forget to verify that they have been effectively resolved. This typically takes the form of conducting follow-up scans to ensure that the top-priority risks have been mitigated. Reassessing remediation closes out the incident in the tracking system and provides valuable data for key performance metrics, such as mean time to remediate (MTTR) and the number of open critical vulnerabilities.

Monitor and improve remediation

The final stage in this process never actually ends, as it involves continuously monitoring the effectiveness of your remediation efforts and seeking ways to improve them. Regular reporting on the status of vulnerabilities (especially during major security events) helps keep stakeholders informed and justifies investments in security staffing and tools. Top vulnerability management platforms offer automated reporting and dashboards to provide insights into trends, risks, and performance, enabling ongoing improvement of your vulnerability management process.

The five stages outlined above demonstrate a structured, sequential approach to vulnerability management. The right structure is likewise vital as you set up your vulnerability management process. These are the steps you will want to consider:

Define your objectives

Obviously, the primary goal of any vulnerability management solution should be to identify and remediate or mitigate vulnerabilities within your system, and to do so before those vulnerabilities can be exploited. However, you should also identify any secondary objectives your organization may have in relation to the vulnerability management process.

Secondary objectives allow you to improve the overall effectiveness of vulnerability management, and how your organization is implementing the resultant data. These secondary objectives may include increasing the regularity of vulnerability scanning or speeding up the resolution time in addressing identified vulnerabilities.

Define the roles within your organization

For your vulnerability management solution to be effective, you will need all  stakeholders committed to its success, and their roles and responsibilities in the process clearly defined. Although different organizational structures and capabilities may demand a different separation of responsibilities, most businesses may benefit from assigning individuals to the roles of monitors, resolvers, and authorizers.

• Monitors
  This role assesses vulnerabilities for severity and risk, documents their findings, and then alerts the resolvers who will be responsible for addressing the issues.
• Resolvers
  This role is responsible for locating patches to known issues and creating mitigation solutions when patches are not available, or it is not convenient to apply them.
• Authorizers
  This role takes a big-picture view of system vulnerabilities and is responsible for making changes to strategy and procedure when necessary to mitigate the effects of vulnerabilities now and in the future.

Assess the effectiveness of your vulnerability management program

Ongoing vulnerability management processes allow your business a clearer, more up-to-date view of your overall security status. As a bonus, the continuous nature of these processes will help you develop an accurate assessment of what aspects of your vulnerability management approach are working, and which need adjustment.

Remember: Although the basic steps of vulnerability management are relatively consistent, subtle variations in approach may be appropriate between organizations. Do not be afraid to make changes to your processes to facilitate improved accuracy, clarity, and remediation.

Choosing the right vulnerability management solution is crucial for maintaining a strong security posture. A comprehensive solution does more than simply scan for vulnerabilities; it needs to offer real-time visibility, minimal performance impact, and integration with your broader security strategy. When evaluating a vulnerability management solution, consider the following key features:

Real-time vulnerability detection

Timeliness is critical in vulnerability management. A solution that provides real-time detection ensures that vulnerabilities are identified and addressed as soon as they arise, rather than relying on outdated scan results. Look for tools that use lightweight agents or scan-less technology to offer continuous monitoring without consuming excessive bandwidth or resources.

Minimal performance impact

It doesn’t do much good to eliminate vulnerabilities if the solution disrupts the effectiveness of your systems, which is why vulnerability management should have a minimal impact on endpoint performance. Unfortunately, many agent-based tools can slow down systems, affecting productivity. Choose a solution with a lightweight agent that operates efficiently without burdening your IT infrastructure.

Comprehensive visibility

A high-quality solution should offer full visibility into your entire environment, allowing you to quickly identify and prioritize vulnerabilities. Tools that provide an interactive dashboard with search and filter capabilities can help your team act swiftly, closing security gaps before they are exploited.

Risk-based prioritization

Not all vulnerabilities pose the same level of danger. A strong vulnerability management solution should include risk-based prioritization, empowering your team to focus on addressing the most critical vulnerabilities first. This approach will help you allocate resources more effectively, focusing specifically on eradicating the most pressing and potentially harmful threats before moving onto lower-risk concerns.

Integrated security platform

Rather than relying on a complex array of disconnected tools, look for a solution that integrates seamlessly with your existing security infrastructure. An integrated platform that includes vulnerability management, endpoint detection, and other security tools simplifies management and enhances your organization’s overall security posture.

No discussion of vulnerability management would be complete without addressing exploits—what they are, and how to prepare for them. 

An exploit is a malicious software (malware) program. It consists of a specialized code that takes advantage of known vulnerabilities within a system. Threat actors initially use exploits to access networks and related systems remotely. They can then steal or alter data, give themselves system privileges, lock out authorized users, move deeper into the network, and open the door for other malware or attack techniques.

One principle factor to consider is that exploits are software programs that are designed to target and take advantage of known vulnerabilities, or, in the case of a zero-day, a vulnerability that may not be known and therefore will not have been patched. By implementing vulnerability management within your organization, you can address and repair the same vulnerabilities targeted by exploits.

In addition to ongoing vulnerability management, you can also prepare your organization in the following ways:

• Provide IT security training for all employees
  Your IT department is not the only department that needs to know how to defend against possible attacks. Train all of your employees on best IT security practices and make sure that your organization’s cybersecurity policies are up to date.
• Implement traffic filtering and scanning
  Traffic filtering and scanning give you increased visibility into network traffic, and allows you to send the right kinds of traffic to the right security monitoring tools. This prevents traffic bottlenecks, reduces latency, and allows for faster identification and response of malicious agents.
• Keep up with regular patching
  Software vendors will regularly provide patches and updates to help secure their products from emerging vulnerabilities. Checking for patches on a regular basis and making sure that all of your systems and applications are operating with the most up-to-date versions will help ensure that known vulnerabilities aren’t being used against you.

As vendors and developers release software solutions, they do not always have the time to identify and address all possible vulnerabilities before the product is pushed to market. This means that flaws and bugs may go undiscovered for some time.

As vendors, security agencies, testers, and traditional users discover new vulnerabilities, the vulnerabilities are usually reported and disclosed through the proper channels. The vendors are then responsible for patching their exposed products. The speed with which a vendor will move to patch a vulnerability will depend on its severity or criticality. Large vendors typically aggregate and test patches into a “Patch Tuesday” release, so that their customers can have fewer disruptions and less work in implementing the fix.

Although vendors will likely employ their own testers and even third-party penetration testing agencies to identify vulnerabilities, many flaws do go unnoticed until they are stumbled upon by users or identified by hackers. With this in mind, ongoing vulnerability management becomes even more essential.

The IT ecosystem is evolving—and so are the threats that target it. And as the number and complexity of vulnerabilities continue to grow, organizations need a comprehensive solution to effectively manage these risks. ServiceNow Security Operations (SecOps) is the answer.

SecOps is a powerful application built into the ServiceNow AI Platform, providing access to tools and resources to streamline and automate your vulnerability management process. Enjoy complete visibility into your security posture with a unified, centralized dashboard. Employ automated workflows to reduce the time and effort associated with remediation. Respond to threats more effectively and efficiently with real-time vulnerability detection, risk-based prioritization, and seamless integration with your other IT and security solutions. ServiceNow gives you the opportunity to outpace the risks that threaten your business.

The platform’s unified dashboard provides complete visibility into your security posture, while automated workflows reduce manual effort and speed up remediation. With features like real-time vulnerability detection, risk-based prioritization, and seamless integration with other IT and security tools, ServiceNow SecOps helps your organization respond to threats more efficiently and effectively than ever before. 

Explore the full capabilities of SecOps by ServiceNow; schedule a demo today!