Upcoming Virtual Event: Cloud Security Summit | July 17 - Register Now
Connect with us

Hi, what are you looking for?


Management & Strategy

New RiskLens Solution Helps Organizations Optimize Cybersecurity Spending

Cyber risk management solutions provider RiskLens on Thursday announced a new capability designed to help organizations improve investment and budget decisions.

Cyber risk management solutions provider RiskLens on Thursday announced a new capability designed to help organizations improve investment and budget decisions.

The new capability, RiskLens Risk Treatment Analysis, enables cybersecurity and risk teams to assess and compare the impact — in financial terms — of decisions related to investment, controls and other treatment options. It helps organizations identify the best options for reducing costs and minimizing risks.

When organizations use the new Risk Treatment Analysis tool, they are presented with three options, each showing how much the average risk is reduced and the associated increase in cost. One treatment option focuses on maximally reducing loss exposure, while another option covers cost-effective risk reduction (i.e. the highest level of loss exposure reduction for every dollar spent). The final option is for the least expensive path to getting under a specified risk threshold.

RiskLens says that while by default it highlights the option for maximally reducing risk, it’s not naming this the recommended treatment option, due to the fact that “there is usually a lot of surrounding context around any decision that would only be known to the decision owner and not considered within the platform.”

RiskLens launches Risk Treatment Analysis capability

RiskLens is the creator of FAIR (Factor Analysis of Information Risk), an international standard for quantifying cyber risk. The company says the new capability leverages the best practices and experiences of over 6,000 FAIR members, which include over 30 percent of the Fortune 1000 companies.

RiskLens told SecurityWeek that the new capability is available immediately and at no extra cost to customers with Operational Decision Support and Strategic Decision Support subscription packages. RiskLens Risk Treatment Analysis is expected to become generally available on October 9.

RiskLens announced the Risk Treatment Analysis capability after it recently launched Rapid Risk Assessment, which enables customers to quickly determine their loss exposure in financial values.

Related: OT Networks Are Becoming Essential Components of IT Risk Management, Governance

Advertisement. Scroll to continue reading.

Related: Cyber Risk Company RiskLens Raises $20 Million

Related: Risk-Based Vulnerability Management is a Must for Security & Compliance

Related: Considerations For Evaluating Vendor Risk Management Solutions

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment


Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Learn how to utilize tools, controls, and design models needed to properly secure cloud environments.


Event: ICS Cybersecurity Conference

The leading industrial cybersecurity conference for Operations, Control Systems and IT/OT Security professionals to connect on SCADA, DCS PLC and field controller cybersecurity.


People on the Move

Anirban Sengupta has been named the CTO and SVP of Engineering of cloud networking and security firm Aviatrix.

Axonius has named Nick Degnan as its first Chief Revenue Officer and Rob Casselman as its first Chief Customer Officer.

Craig Boundy has left Experian to join McAfee as President and CEO.

More People On The Move

Expert Insights