Most IT risk management tools have the following features: This is where risk management software comes into the picture. Implementing a comprehensive risk management strategy can help to detect and respond to data breaches more quickly, reducing the potential impact and repercussions of a successful attack. An organization may be unaware of critical vulnerabilities and potential threats without a proper method for monitoring and analyzing the IT landscape. Gaining visibility into an organization’s IT infrastructure and systems is essential for identifying and managing potential security risks.
And finding and stopping a breach took an average of 277 days. 83% of businesses that participated in the survey said that more than one data breach had occurred. In IBM’s 2022 Cost of a Data Breach Report, the average cost of a data breach has reached an all-time high of $4.35 million.
This article will help you find the right IT risk management solution considering your budget, compliance, and security needs. Therefore, CISOs must invest in a risk management tool to manage risks efficiently.
