Is it Mandatory to Adopt Cyber Risk Management in Organizations?

Organizations can defend themselves by incorporating cyber-risk management in an attempt to achieve business objectives.

FREMONT, CA: Not all organizations long to have the best security capabilities for cyber and information, as that is not their primary objective. Such companies have got to reach their business goals. Cybersecurity has, however, become a critical issue across industries to help them achieve these main missions. This is due to an increase in the regulations across jurisdictions that determine how to protect and use data assets. Interconnected devices, evolving technologies such as IoT and migration to cloud-based services will also pose challenging challenges to cybersecurity. Furthermore, the rapidly evolving cyber-threat environment exposes companies regardless of industry to a new set of risks.

Enterprise risk management for cybersecurity includes the process of identifying, assessing and prioritizing the key cyber threats of an organization. The effective risk management system helps IT, security teams, to track and evaluate their cyber risks across the enterprise by comparing each of their residual risk ratings. Organizations can adapt the…