Business process automation helps companies operate faster and more efficiently, eliminates human error and reduces manual and routine tasks. However, automation also leaves systems vulnerable to cyber-attacks. Security threats such as phishing, identity theft or malware injection may be difficult to detect and prevent, especially if a business does not implement a reliable cyber security platform.
When a security breach happens, remediation and recovery costs can be very costly and time-consuming for the organization. This is why it is important for a business to invest in a Vulnerability Management (VM) program to protect its systems and assets from cybersecurity threats.
What is Vulnerability Management?
Vulnerability Management involves identifying, categorizing, remediating and preventing network threats and vulnerabilities. Vulnerabilities may be caused by unpatched or out-of-date software, weak IT infrastructure or lack of user-training.
The VM cycle is composed of the following activities:
- Risk identification and analysis – Running vulnerability assessments and scans in servers and other devices to identify, classify and analyze threats and risks.
- Report generation – Consolidating data to indicate all vulnerabilities affecting the business’ assets
- Prioritization of threats – Managing threats by ranking them from highest to lowest and providing remediation advice
- Remediation and Mitigation of Threats – Taking action to eliminate identified threats, starting with the threat which may have the largest impact
Implementing VM solutions lets business take a proactive approach in managing cyber-security attacks. Without the ability to identify system vulnerabilities, it will be a challenging task for businesses to protect its assets.
So, what are the benefits of VM Solutions?
Improved Network Security
Security threats and risks may be recurrent. VM Solutions helps businesses stay a step ahead of threats. Early detection of risks means that they can be prevented from breaching the network. In case a threat or risk has penetrated the system, notifications are sent to the concerned parties so that the risk be immediately fixed. Cyber-criminals also have access to vulnerability tools and techniques. With VM programs, companies may be able to prevent hackers from taking advantage of system vulnerabilities.
Time and Cost Effectiveness
VM processes are a continuous cycle. Since vulnerability assessments are run regularly, a company’s IT group spends less time in monitoring systems and finding out how to fix threats. At the same time, since risks and threats are easily identified, the IT group will be able to know what remediation method should be applied. This helps businesses save time and resources, compared to not having VM programs where dealing with the effects of a security breach and the costs that go with it can be more difficult and time-consuming.
Regulatory Compliance
VM programs help businesses comply with cyber-security regulations. Agencies such as the NIST, PCI DSS and HIPAA require vulnerability checks in place to protect sensitive data and assets.
Vulnerability Management technology is essential for businesses to implement as part of its whole IT infrastructure. This is because aside from data and asset protection, VM solutions have become a requirement in meeting compliance, audit and risk standards.
