Businesses in this era face an ever-expanding cyber threat landscape they can barely keep up with. From ransomware to new malware variants, DDoS attacks, APTs to zero-day exploits, etc., CISOs, IT professionals and SRM leaders have to contend with more threats now than they’ve ever experienced. Thus, there’s a saturation of cyber risks that continuously test a company’s security posture and resilience, and with this saturation, the question of where to focus one’s cybersecurity efforts arises.

While businesses can prioritise risks based on their severity and tackle them based on this severity rating, if more than two risks have the same rating, there’ll be confusion on which risk to tackle first. This limitation is what Microminder’s Cyber Risk Quantification aims to fix. Because of the critical influence of cybersecurity on a business’s growth, reputation, functionality and revenue, it would make more sense to prioritise risks based on their financial impacts and likelihood of occurrence.

In essence, if your company were told it had an impending cyber risk with a 70% chance of occurrence that could cost it 2 million GBP in losses, you would initiate a DEFCON 1 approach in addressing this risk. This is what Microminder’s cyber risk quantification offers, calculated insights into the financial impact of cyber risks to facilitate informed and timely decisions that keep your business afloat and thriving.