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The Importance of a Cybersecurity Risk Assessment 

By July 26, 2021May 10th, 2022Thought Leadership

The Importance of a Cybersecurity Risk Assessment Within many organizations, cybersecurity is something that is often overlooked – It is common to see organizations investing in sophisticated cybersecurity tools only to just… leave it thereafter implementation has been completed. 

In reality, the cyber-threat landscape is rapidly evolving and your security system needs to be updated and monitored accordingly in order to be effective. Organizations will naturally change over time, which means that their security system needs to be scalable and flexible to meet the enterprise’s evolving needs.  

The best way to keep an accurate and up-to-date picture of your current security environment is by conducting regular cybersecurity risk assessments. They are the only way to know for sure whether your current system is doing an adequate job protecting your assets. 

Main Benefits of a Cybersecurity Risk Assessment  

1. Identifies Security Vulnerabilities 

One of the main benefits of a cybersecurity risk assessment is that it will help you identify the internal and external risks that are relevant to your system. This is critical as it provides visibility into the individual components of your security system and identifies which areas are weak and need improving. This information will ultimately guide your future security investments and provide a guideline for how to move forward. 

2. Documents & Reviews Security Controls 

A cybersecurity risk assessment will provide insight into your current security controls while evaluating how efficiently they operate and how they can be upgraded. This information can then be used to prioritize critical areas of attention that should be dealt with first. 

3. Meet Industry Compliance & Regulations  

Many are surprised to find out that they risk being hit with massive fees and fines for failing to comply with government-mandated requirements & regulations. Cybersecurity risk assessments will, therefore, identify any areas where your organization is failing to meet regulations, ensuring that any penalties are avoided.  

Performing a Cybersecurity Risk Assessment  

1. Identify & Gather all Assets – This step involves identifying all the critical assets that are involved within an organization’s network and carefully documenting the sensitive data that is created, stored and transmitted by these assets. 

2. Assess your Vulnerabilities – With all of the potential risks now identified, it is now important to prioritize each risk based on their potential impact to the organization. From there, you should allocate the necessary time and resources towards mitigating each of those risks effectively. 

3. Create Prevention Strategy – Implement the appropriate tools and processes to minimize threats and vulnerabilities 

Comprehensive Cybersecurity Risk Assessment with Stratejm 

The easiest way to get a comprehensive view of your organization’s security posture is by partnering with an IT security services provider like Stratejm. We can provide all the tools and expertise necessary to diagnose any gaps in your network, along with the tools and know-how to mitigate them. We provide comprehensive, turnkey, enterprise-grade security tools without the need for any hardware or software commitments.