Inline Risk Management & how it helps to detect deviation

Organizations by now must have realized that they are swimming with sharks when it comes to cyber-security. Awareness and acknowledgment of the risk can put you in a stronger position than you have thought.

There are many enterprises and digital companies that have already suffered a tremendous loss amid a cyber breach. Either they had to pay for the losses incurred out of their own pockets, lost respect from the stakeholders, or had to slow down their operations. If this is something that you have faced earlier then you already know that risks are always there. You need to be consistently monitoring your borders if you want to outsmart attackers or you should try to understand your exposure to these threats and risks.

Risk acceptance and its added benefits

Risk acceptance is more of a technique then it is a methodology. You need to be willing for monitoring the risks that are associated with your security exposures and how you can mitigate them. Forming a framework that can help in the proper execution of this task is imminent.
In order to begin with this approach by identifying the key stakeholders within the business and getting them head-to-head with the security team.

This way the InfoSec and business personnel can share their thoughts and insights about the security systems they currently have and what they can do to make their enterprise more secure. Risk acceptance can’t be achieved if both the business and IT section think that there are no problems or chances of a breach. We have to make sure that both these parties understand risk acceptance is the key and they will have to work together if they want a company to run.

Categorization

It involves a better understanding of the areas that are vulnerable to security defects and breaches, assessing them properly and having them categorized for convenience.

Select

Selecting those areas that are most vulnerable to cyber breaches and adding them to a remote list for implementing security based transitions.

Implementation

It involves a better understanding of the areas that are vulnerable to security defects and breaches, assessing them properly and having them categorized for convenience.

Assess

Understanding the value of damage covered and the percentage that is still to be taken into account.

Monitoring Steps by SecurityBridge

SecurityBridge provides a precise solution for the organizations that don’t have a dedicated security management setup to come around the most urgent places within the organization that require imminent security implementations. It can monitor the whole security soup, update security immensely, and provide with the necessary feedback to improve it
even further.

SecurityBridge; providing monitoring services for digital businesses

Risk acceptance must be focused on the compliance and security of the systems. SecurityBridge offers a magnificent solution that allows real-time event monitoring as well as filtering and lowering of event severities.

It helps to scan your entire networking and computing system to highlight the vulnerabilities which can be documented by the security officers of your company with this incredible solution in order to understand whether the risk is fatal and is the company willing to accept the risk or not.

Securing your SAP landscape should be imperative, but unfortunately, most SAP systems are insufficiently secured. The whitepaper describes the major steps on your road to securing enterprise-critical applications based on SAP SE products. 

Download the whitepaper YOUR ROAD TO SAP SECURITY to learn about the major milestones towards increasing the cybersecurity posture of your SAP systems

SecurityBridge – providing monitoring services for digital businesses

  • It is a central mechanism to document the accepted SAP (consists of highly sensitive information, data and company assets) security risks.

  • Risks that can’t be accepted by the organization should be lined up and prioritized for their instant mitigation.

  • The security team would immediately be able to predict any deviation from the previously accepted security state to take further action.

Interaction between Business and IT Sec via Tool based approach

The interaction between the business and the IT security teams can bring harmony and save the company from outside attacks and cyber breaches. An interaction of security and compliance management can be set up between the two to help them understand their values and work around the clock for increasing security and making things compliant with various legal attributes regarding overall security. Auditing of the security systems can be done via a Security and Compliance management system where reports can be submitted to the business department that can in return consult with the IT department to work on a solid IT-based solution for the breaches and other likable threats.

How risk acceptance leads to a more focused view and why it is better than having this in an excel sheet?

When you acknowledge that risks are there then you can begin working on a solid solution to mitigate them and secure your assets. But if you try to conceal it within some distant part of you or in an excel sheet and don’t give it any importance then there is no point in conducting business securely because breaches will eventually happen. That is why you should always get on with the risk acceptance if you want to save the company and be mindful of the incoming risks.

Posted by

Ivan Mans
Share on linkedin
Share on twitter
Share on email
Find recent Security Advisories for SAP©

Looking into securing your SAP landscape? This white-paper tells you the “Top Mistakes to Avoid in SAP Security“. Download it now.

SAP Patchday
On the 12th of January, the SAP Security and Response Team continues its established praxis to release product corrections with security impact to SAP customers. Read the article to find our summary with extended backgrounds...