Cydea, the cyber risk management provider, has announced the Cydea Risk Platform, set to quantify threats in financial terms to businesses, allowing them to visualise the consequences of different business security-related scenarios. By giving a monetary value to risks and cyber threats, the company says its new platform is designed to enhance Board-level communication, speed up decision-making, optimise investments and foster collaboration across all stakeholders. This includes business leaders, CISOs, IT teams and security professionals to prioritise and reduce cybersecurity risks to the business and help meet regulatory compliance.
Addressing the Problem: Calculating Cyber Risk Is Causing Confusion
With 75% of businesses stating cybersecurity is a high priority, it’s concerning that less than a third (31%) profess to have conducted a cyber risk assessment, resulting in them not knowing if they’re focussing effort in the right places, and spending too much or too little on cybersecurity. This highlights a serious disconnect between the resources required to manage cybersecurity and knowing where organisations can effectively begin to reduce risks.
Furthermore, organisations need to understand how these risks appear, how they’ll impact business operations and know which are the most cost-effective strategies to adopt to improve their cybersecurity approach. With cyber-incident costs doubling to more than £1 million last year in the UK, it’s time for business leaders and CISOs to take a more positive approach.
Cydea’s Risk Platform
Addressing this issue, the Cydea Risk Platform is a software-as-a-service (SaaS) solution powered by proprietary risk intelligence developed by Cydea as well a ..
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