Benefits of Vulnerability Management: Why Your Company Needs Vulnerability Management
Pointwest
October 30, 2019
Why Your Company Needs Vulnerability Management
Security is one of the biggest concerns of every company. Potential dangers can cause many problems that can and will compromise your business.
In today’s world, technology has played a huge role in automating a wide variety of business functions and services to maximize operational effectiveness and overall work productivity. As the workplace becomes more technologically advanced and increasingly automated, a number of new risks emerge as well. This makes cybersecurity one of the main priorities of any modern business. They all aim to protect their data, resources, and technology from malicious software and hackers.
With so many risks present, it is important to find a process that would remedy pressing problems, while also giving you the ability to set up preventive and protective measures against future threats. To address all of these needs, your company needs a process called vulnerability management.
What is vulnerability management?
Vulnerability management is a process that aims to identify the various functions and systems present in your company’s database and determine all of the possible risks and dangers that might compromise their functionality. This system allows you to be aware of all of the potential cybersecurity threats that might be present, and proposes a procedure that will help you find the best strategies and solutions to improve your data and system security.
Vulnerability management systems conduct regular scans every year, and follow a set of four processes that make up the primary functions of the system. These four processes are the following:
Discovery – This process involves the system identifying, categorizing, and assessing all functions and software present within a company’s system. This will allow you to scope out all of the risks that you might be vulnerable to.
Reporting – After assessing all of the systems and functions, the next step for a vulnerability management system is to report all of the threats and issues present within a company’s system, and create a list that would determine those tasks that need to be handled first.
Prioritization – Vulnerability management systems are tasked with identifying different kinds of risks, and these risks can range from minor system issues, to severe threats to your cybersecurity. The system will be able to organize and list these risks and inform the company on which ones need to be prioritized first.
Response – Once the risks have been identified and listed down, the next step for a vulnerability management system is to respond and take action to resolve these issues and remove the threats. The responses come in three types, namely:
- Remediate – The threat will be completely removed from the system
- Mitigate – Reducing risk by taking an alternative action
- Accept – Accepting to accommodate a certain level of risk within the system to retain functionality.
Why do you need vulnerability management in your company?
Vulnerability management is a process that finds solutions to various cybersecurity threats within a company’s system. Digital threats come in many different forms, and all of them have the potential to aggravate risks and cause problems within your system. By implementing the proper vulnerability management systems in place, you will find the best solutions to counter these threats, while also setting up measures that protect your data and resources.
Resource monitoring and management
Once vulnerability management systems are able to identify all of the threats, they provide information that could help guide companies on how to utilize their resources to respond to these issues. Along with delegating, vulnerability management systems have the ability to track all of the resources that a company has in its database. This function can also track and identify unknown resources that might have entered your system so you can take action immediately.
The company can have a multitude of assets and resources in its arsenal. This makes it quite challenging to track all of them without the necessary tools and systems in place. Vulnerability management allows you to not only track these resources, but also have a method that enables you to delegate and organize these resources efficiently.
Identify all possible risks to your business
Many companies today are unaware of the many risks that may affect their automated systems, all of which can affect their business operations and productivity. These risks can include data breaches, malware present in software, and other types of digital attacks. Risks like these not only affect your operations and functions, but also cause damage that can be very costly if the problem is not addressed immediately.
Through vulnerability management systems, you will be able to utilize discovery and reporting processes to identify every possible risk that might be present within your company’s software.
Today’s companies have now become increasingly digital and automated. This has not only improved the functionality and effectiveness of these companies, but it has also exposed them to a new set of risks and dangers. Through the implementation of a vulnerability management system, you would keep all of these risks in check.
Find flaws and defects within the system
Along with finding risks and dangers within your company’s system, vulnerability management systems will be able to find flaws and defects within its own system. While flaws and defects can be less damaging than other types of risks, they can still disrupt productivity and work quality as a whole. It is best to remove these inconveniences in your system using the same vulnerability management process to create the best solutions to the problem.
Data privacy and protection
Data security has become one of the most important priorities in today’s digital world, as the number of data breaches and leakage has been rising over the past few years. Through the use of vulnerability management, you can keep all of your important data in check and organized, while also having a proper system that would protect them from different kinds of risks.
Staff awareness
Along with providing the best digital solutions for your company, vulnerability management systems are also a platform that can help people within the company to develop and improve their understanding of cybersecurity. The human component of cybersecurity is just as important and valuable as the digital aspect of the system. An example of a vulnerability management system that aims to develop both the human and digital components of cybersecurity is Pointwest’s own Cybersecurity and Data Protection systems.
Establishing a proper mindset is just as important as getting the right system for the job, as company staff is in charge of managing and making these systems work effectively within their company. A vulnerability management system is designed to enhance cybersecurity, along with enhancing the skills and capabilities of the staff in charge to develop a company mindset that prioritizes data and software protection.
Key Takeaway
Going digital has helped companies across the world move forward and develop innovations and processes that helped their growth and success. However, the digital world also poses a new set of risks that can affect their work and resources. By implementing a vulnerability management system, companies would quickly identify any digital threats and flaws within their own system, and find the most effective solutions.
About Pointwest
Pointwest is an IT company in the Philippines. Founded in 2003 by pioneers of the Philippine Global Sourcing industry, Pointwest creates value for its list of satisfied clients — including top Fortune 100 and local companies — with world-class digital innovation and IT modernization services backed by international-standard methodologies, and innovative practices.
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