Critical Start, a leading provider of Managed Detection and Response (MDR) cybersecurity solutions and pioneer of Managed Cyber Risk Reduction (MCRR), announced the upcoming availability of Critical Start Cyber Risk Register. The Cyber Risk Register is a key component of Critical Start’s Managed Cyber Risk Reduction strategy, allowing organizations to assess, track, reduce, accept, and communicate cyber risk posture and improvements to executives, boards of directors, and auditors.
Critical Start’s Cyber Risk Register is an easy-to-use SaaS offering that enables security leaders to quickly record, track, and manage their organization’s cyber risks in one centralized system. The offering categorizes risks by severity, maps them to security controls, and tracks risk treatment plans and approvals. Risks can be added manually, automatically via any subscribed Critical Start offering, or through data import, giving clear visibility into the current risk posture based on objective evidence.
With cyber risk being an increasing focus for security leaders, executives, boards, insurers and analysts, many organizations currently rely on spreadsheets or manual processes for risk management. This leads to an incomplete picture of enterprise risk, lack of timely metrics, and significant effort spent on tracking and reporting. Critical Start addresses these challenges by providing an efficient, rigorous solution for consolidating risk information, metrics, and reporting.
“Organizations know cyber risk management is critical but struggle with the complexity and effort involved in getting an accurate, timely picture of their risk posture,” said Chris Carlson, Chief Product Officer at Critical Start. “By providing the Cyber Risk Register as a key part of our holistic risk reduction approach, we enable security leaders to easily identify, prioritize, and communicate the actions needed to meet their organization’s risk tolerance and protect against threats.”
Key benefits of the Critical Start Cyber Risk Register include:
- Clear risk visibility and reporting – executive dashboards and reports [SG1] [CC2] provide an up-to-date view of key risk metrics, overall financial impact, trending over time, and ability to drill down into detailed risk information. This supports effective communication with senior executive management, board of directors, auditors, and other stakeholders.
- Create and manage logical workspaces for business context – create workspaces to manage risks by logical business contexts – internal IT, business applications, third-party vendors, subsidiaries, divisions, any entity – and assign internal and external users to Workspaces with access control and data privacy to collaborate and manage risk. This enables multiple cyber risk use cases across internal, third-party, vendor, and supplier risk management.
- Efficient risk governance – automated reminders and approval workflows enable a rigorous process for reviewing and deciding treatment for high and critical risks, including accepted risks and future re-evaluation. Time-stamped audit trails [SG3] [JH4] [CC5] document all risk management actions.
- Secured Document Library [JH6] [CC7] – manage all documents, evidence, risk assessment questionnaires, mitigation plans, and other business documents in a centralized secure location governed by access control and data classification. Eliminate document version control by reference the same document across risks and workspaces in the risk register.
- Time savings for security leaders – consolidating risk data eliminates manual effort and allows quick access to information for reporting, decision-making, budgeting, and compliance needs. Risks can be added manually, automatically via any subscribed Critical Start service, or through data import, giving clear visibility into the current risk posture based on objective evidence.
- Continuous improvement – over time, metrics and trends identify areas for enhancement, support business cases for investment[SG8] [CC9] , and demonstrate the impact of risk reduction efforts. Empowers a proactive, data-driven approach.
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