Tuesday 2nd May 2023
BLOG: Data-Driven Cyber Risk Ratings – The More Accurate and Reliable Assessment for Small Businesses
As the reliance on digital systems to manage and safeguard sensitive information continues to intensify, the threat of cyber attacks looms ever larger. Regrettably, smaller enterprises are particularly vulnerable as they often lack the resources and technical know-how required to safeguard themselves against such malicious activities.
The ramifications of a cyber attack can be grave, ranging from reputational damage to financial losses and even outright business failure. Nevertheless, small businesses can attain a more precise and dependable gauge of their cyber risk profile by leveraging data-driven cyber risk ratings.
A cyber risk rating is an easy way to quantify and communicate cyber risk. The rating is based on the probability of a cyber attack occurring and the potential impact of that attack. Traditional methods of assessing cyber risk rely on static factors such as a company’s size, industry, or geographic location.
These factors are not always indicative of a company’s true cyber risk posture. Data-driven cyber risk ratings, on the other hand, are based on a company’s actual threat environment and the live attack surface features of the company and its third parties.
At Orpheus Cyber we have developed a fundamentally different, threat-led approach to cyber risk management. Orpheus combines its unique understanding of the threat to any company with detailed insight into the current attack surface of that entity, including the attack surface of its third parties. This approach helps stop cyber risk before it happens. Neglecting to start with the threat means that cyber risks are not properly calculated.
The Orpheus Cyber platform enables organisations to proactively understand both their current threats and live attack surface features so that they can anticipate and resolve the risks they face before they happen. Clients can use the Orpheus Cyber Risk Rating platform to monitor the changing cyber risk rating of any of their nominated entities and prove a return on investment as those companies act on Orpheus’ recommendations and their likelihood of being a victim of a cyber attack.
One of the key benefits of using data-driven cyber risk ratings is that they are more accurate and reliable than traditional methods of assessing cyber risk. By using real-time threat intelligence and attack surface analysis, data-driven cyber risk ratings provide a more comprehensive and up-to-date view of a company’s cyber risk posture. This enables small businesses to make more informed decisions about their cyber security investments and prioritize their efforts based on their actual risk exposure.
Data-driven cyber risk ratings provide an objective and standardized way to compare cyber risk across different companies, industries, and geographies. This is particularly valuable for small businesses that operate in multiple locations or have partners or suppliers in different regions. By using a common cyber risk rating system, small businesses can more easily assess the cyber risk of their partners and suppliers and make informed decisions about their relationships.
Orpheus Cyber Risk Score is used to communicate within your organisation your progress in managing your cyber risk posture. It can also be applied to companies within your supply chain or partners, with no involvement from those organisations. The cyber risk rating is an easy way to quantify and communicate cyber risk. By using data-driven cyber risk ratings, small businesses can more accurately assess their cyber risk posture and take proactive steps to protect themselves from cyber threats.
Data-driven cyber risk ratings offer a more accurate and reliable assessment of cyber risk for small businesses. By using real-time threat intelligence and attack surface analysis, data-driven cyber risk ratings provide a more comprehensive and up-to-date view of a company’s cyber risk posture. This enables small businesses to make more informed decisions about their cyber security investments and prioritize their efforts based on their actual risk exposure. Orpheus Cyber Risk Rating platform provides clients with the tools they need to proactively manage their cyber risk posture and protect their business from cyber threats. To see the Orpheus platform in action, click here
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