Beyond Risk Management: How Cyber Risk Intelligence Tools are Changing the TPCRM Game

By Vikram Asnani, Sr. Director, Solution Architecture
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Definitions of the word intelligence include a collection of information of military or
political value as well as the ability to acquire and apply knowledge or skills. In
cybersecurity, when we possess intelligence, we feed that data in our Security
Operations Center (SOC) to further analyse the risk present. In this case, the risk is based on the probability of threats materializing and the impact they would have on the
organization.

We’re calling the output of that SOC Cyber Risk Intelligence. Cyber Risk Intelligence is
the ability to think holistically about risk and provide information that decision makers
can act on...not just analyse.

Traditional Vendor Risk Management (VRM) processes focus on the gap, which is
essentially information that needs to be further analysed against the risk to the business. This is an additional step that takes time and effort, especially when different compliance frameworks and threats are constantly emerging.

CyberGRX understands the pain associated with this and is helping organization with
cyber risk intelligence, which means when it comes to third-party cyber risk, we give you
actionable insights. We save you time and effort by analysing the data against different
risk frameworks and threat profiles. We help you identify the third parties in your
portfolio that are the most vulnerable to threats like ransomware, DDOS attacks, and
Web Application attacks and give you the ability to map to various cyber risk frameworks like NIST, ISO, Prudential regulations, etc.

Investing in tools that provide risk intelligence allows organization to be decisive and
helps bring agility in their operations. American financial executive, author, and Columbia University Professor Leo Tilman defined risk intelligence as, "The organizational ability to think holistically about risk and uncertainty, speak a common risk language, and effectively use forward-looking risk concepts and tools in making better decisions, alleviating threats, capitalizing on opportunities, and creating lasting value.” He has argued that risk intelligence is essential to survival, success, and relevance of companies and investors in the post-crisis world. In his latest book titled Agility: How to Navigate the Unknown and Seize Opportunity in a World of Disruption (co-authored with General Charles H. Jacoby Jr.), Tilman describes risk intelligence as a cornerstone of organizational agility.

Today’s most successful organizations know that taking advantage of the insight risk
intelligence provides is the future of third-party cyber risk management.

Vikram Asnani

Sr. Director, Solution Architecture

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