How to Showcase your Cybersecurity Program

Why is it important to showcase your security and risk management program?

To make data-driven risk management decisions - Real-time analytics give customers, regulators, management and employees visibility into company performance against security and privacy objectives.

What should companies look for in a data security and risk management tool?

Look for a tool that shows your organization’s data real-time, in a ubiquitous/comprehensive  manner and one that is easy to maintain.  The Ostendio MyVCM collaborative, integrated risk management platform offers real-time data views across your organization with easy-to-read dashboards that show either an individual security score or an organizational security score. It is a simple to read graphic format which gives information at a glance plus the ability to dive in deeper to understand the exact data used to attain that score. 

Why do you need up-to-date data and why is it important? 

There are 3 main reasons:

• 1. To make decisions 
  The only sound way to make good decisions for your business is to make informed decisions based on valid data. The Ostendio MyVCM platform will gather data about your business that is available real-time. By using up-to-date information customers can then make timely decisions. If you take 3 months to manually gather data using spreadsheets then it is out of date by the time you come to use it. If you have timely information that helps quantify risk you can focus investment decisions on the areas that give you the best return. 

2. To build confidence

• In order for data to be useful it needs to be shared with the right people at the right level.  Not everyone in your organization needs to understand exact sales numbers, for example, but they do need to understand how to prevent a data breach.  Look for a tool that helps your organization with different access to employees based on their role. Look for a tool that will generate reports about your data that is appropriate for the level required.  By showcasing your data at an appropriate level with executives, management team, board of directors and employees you will provide them with the information they need to make decisions with confidence.

3. To pass security audits

• The need to comply with standards, regulations and laws has become more important than ever.  Many companies are considering multiple standards as part of their basic cybersecurity program.  The most common standards we see being used are SOC 2 and HITRUST, although in certain industries like healthcare, for example, HIPAA is essential.  There are also state and regional regulations that businesses are waking up to realize are important such as CCPA, GDPR and the New York Shield Act.  By selecting the right tool for an audit, your organization will find it easier to handle audit requirements. Being able to showcase up-to-date data will also help your organization with vendor assessments and other interested third parties who might want to see an aggregated report about the data your organization holds and how it is stored safely.