Posted on Jul 8, 2019
You’ve invested in cybersecurity, but are you tracking your efforts? Are you tracking metrics and KPIs? If you’re not, you’re not alone.
A report by PwC found that just 22% of chief executives believe that their risk exposure data is comprehensive enough to inform their decisions. This statistic has remained unchanged for the past 10 years. Other recent reports back this up — a report by EY shows that 36% of organizations in the financial services sector are worried about “non-existent or very immature” metrics and reporting when it comes to cybersecurity efforts.
These are organizations that, in some cases, have spent millions on cybersecurity for the sake of compliance. However, they are not maximizing their infosec investment by measuring their efforts.
You can’t manage what you can’t measure. And you can’t measure your security if you’re not tracking specific cybersecurity KPIs. Cybersecurity benchmarking is an important way of keeping tabs on your security efforts. You need to be tracking cybersecurity metrics for two important reasons:
You need cybersecurity benchmarking that tells a story, especially when you’re giving a report to your non-technical colleagues. The KPIs you choose should be clear, relevant, and give a full picture of your organization’s cybersecurity posture.
You may also need to choose benchmarks for your vendors and other third parties, who have access to your networks and can expose your organization to risk.
Below are some examples of clear cybersecurity KPIsyou can track and easily present to your business stakeholders.
There is no hard and fast list of the cybersecurity KPIs and KRIs all businesses should be tracking. The metrics you choose will depend, in large part, on your organization’s needs and its appetite for risk. That said, you will want to choose KPIs that are clear to anyone who looks at your reporting. A good rule of thumb is this: your business-side colleagues should be able to understand them without having to call you for an explanation. So, you’ll want to avoid squishy KPIs — metrics that might have a large margin for error — or esoteric metrics that don’t make sense to your business-side colleagues.
SecurityScorecard offers easy-to-read A-F ratings across ten groups of risk factors so you can provide at-a-glance visibility into your continuous cybersecurity monitoring. Instead of giving long technical details that are difficult to understand, you can provide consistent ratings across all factors and a brief explanation of how those ratings apply to business initiatives.
Free Security Rating
SecurityScorecard offers you a free high-level overview of your organization’s cybersecurity.
Vendor management is the process an organization utilizes to assess and manage a third- or fourth-party vendor. Learn how SecurityScorecard can help.
Performing cybersecurity risk assessments is a key part of any organization’s information security management program. Read our guide.
Templates and vendor evaluations are needed to level that playing field, in a time efficient and fair way, so that the best vendors are chosen.
Co-founder and CEO, Alex Yampolskiy, speaks about the importance of measuring and acting on key indicators of cybersecurity risk.
You can’t manage what you can’t measure. Check out our list of the top 20 cybersecurity KPIs to track in 2021.
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