New offering empowers enterprises to assess cyber risk, quantify business impact and prioritize mitigation
CHICAGO, Nov. 29, 2022 /PRNewswire/ -- LogicGate, creator of the transformative risk and compliance management platform Risk Cloud®, has launched its Cyber Risk & Controls Compliance Solution, empowering IT and risk leaders to visualize, understand and optimize their cybersecurity posture. LogicGate's unmatched solution enables cyber teams to translate cyber risk into financial impact, prioritize cyber risk response and resource allocation, and seamlessly connect their cyber risk management and enterprise risk management programs.
The average data breach cost for organizations globally hit an all-time high of $4.35 million in 2022. Enterprises now face exponentially growing cyber vulnerabilities and threats, escalating regulatory requirements and rising cyber insurance expectations, making cyber risk management more complex and essential to business than ever.
To understand their cyber risk posture, prove the viability of their internal controls and effectively communicate cyber risk priorities to the board, enterprises need a centralized, connected view of their assets, vulnerabilities and controls. LogicGate's robust new offering brings all the visibility from connected cyber asset management solutions to the Risk Cloud platform so risk leaders can automate proactive cyber risk mitigation strategies at scale.
"Cyber risk is the enterprise risk blind spot of far too many businesses. In today's rapidly changing environment, you can't manage enterprise risk if you're not managing cyber risk," said Jon Siegler, Chief Product Officer at LogicGate. "With this new comprehensive offering, LogicGate customers can embed cyber risk mitigation in their holistic GRC strategy, approaching cyber risk as a united front. By leveraging our powerful risk quantification capabilities within their cyber risk programs, our customers will offer decision-makers a complete picture of their cybersecurity posture using the language of the business — money."
LogicGate's Cyber Risk & Controls Compliance Solution offers:
- Centralized view of assets, risks and cyber controls: The solution links controls to assets and assets to risks to visualize cyber risk across your environment from a consolidated, simplified view.
- Proactive, prioritized risk response: The Cyber Risk Application links data from an organization's asset and vulnerability management solutions to help teams assess expected impact of cyber threats, identify assets at risk and prioritize response.
- Risk quantification and reporting within the business context: Risk Cloud Quantify™ assigns financial value to cyber risks, empowering teams to communicate priorities to stakeholders using a common language.
- Connected risk management ecosystem: Bringing cyber risk management and enterprise risk management into one dashboard centralizes and streamlines risk management functions across an enterprise, eliminating data silos, improving cross-team collaboration, and enabling more strategic decisions.
Join LogicGate's "Straight From a CISO: 4 Cyber Risk Priorities in 2023" webinar on Dec. 15 with LogicGate Field Risk Officer Chris Patteson to learn how CISOs use the Cyber Risk and Controls Compliance Solution to turn risk into a strategic advantage.
LogicGate®, creator of the Risk Cloud® platform, is redefining the way businesses think about risk. Through the proactive management of governance, risk and compliance (GRC) processes via the no-code, agile Risk Cloud, hundreds of customers rely on Risk Cloud to improve organizational efficiency, reduce costs, and enable revenue generation and retention. In addition to earning recognition for its technology innovation from Forrester and G2, the global company has received accolades from Crain's Chicago Business, Built in Chicago and the Chicago Tribune for its company culture and was recognized in Inc. 5000 2022.
BLASTmedia for LogicGate
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