Automate your Customers Cyber Security Risk Assessments for Regulatory Compliance and Audits

November 10, 2021
Risk assessment
Managed Service Providers (MSP/MSSP) provide security services to customers. As part of the cybersecurity program, performing security risk assessments, identify security gaps and provide remediation to protect customer data and consumer privacy to meet regulatory compliance and security audits.

MSPs Need SaaS based IT Assessment Software To Gain Competitive Edge 

As part of the cybersecurity program, MSPs perform security risk assessments, identify security gaps, and provide remediation to protect data and consumer privacy to meet regulatory compliance and security audits. These assessments are usually undertaken by using spreadsheets with questionnaire for various regulatory compliance. It is manual and tedious process to manage control questionnaire. A cloud-based IT assessment software presents a great opportunity for MSPs to distinguish itself from other MSP providers in an already crowded market. Software enables MSPs to grow their business achieve operational efficiencies such as:

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    Enhanced Competitiveness: Managed service providers can adopt the latest improvements in technology and gives them an edge over their competitors

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    Lower Operational Cost: Automation allows MSP to do more with less. MSPs can reduce these overhead costs like salaries, benefits, office space, with software.

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    Faster SLA: Software allows MSP to achieve SLAs for their customers

Demand for Asset-Based IT Risk Assessments Is High 

Cybersecurity risk assessment is the process of identifying and evaluating risks for assets that could be affected by cyberattacks. Risk assessments are used to identify, estimate, and prioritize risk to organizational assets resulting from the operation and use of information systems. Risk Assessment has been around for quite some time, starting with NIST 800–30 back in 2002, and having been adopted by ISO 27001, ISACA, and the FFIEC. The purpose of risk assessments is to relevant threats to organizations, vulnerabilities both internal and external to organizations and impact to organizations. Demand for asset-based IT risk assessments is at an all-time high as most organizations lack dedicated staff. Small- to large-size businesses are increasingly relying on managed service providers (MSPs) to perform these assessments regularly. MSP being service oriented organizations are under creasing cost pressure as more than eighty percent of their cost is associated with the labor to manage and service customers.

Cybersecurity Risk Management 

Cyber Security assessments and compliance is usually sending spreadsheets with questionnaire for various regulatory compliance. It is manual and tedious with control questionnaire collecting answers to the questions and documents in organizations for GRC. 

Cyber Security Risk Management is to ensure compliance of controls, inform business risk decisions and assess the effectiveness of the organization’s cybersecurity program to meet both current and future needs. Security and Compliance meet where the controls intersect for operational activities and audit requirements. When Cyber Security Risk Management is integrated into business processes, compliance becomes a derivative of operational security assessments.

SecurEnds GRC Is Tailormade For MSP

SecurEnds GRC is a cloud-based IT Risk Assessment Software designed exclusively for Managed Service Providers. With its intuitive, powerful, and modular approach, SecurEnds GRC can perform a comprehensive and quantifiable asset-based risk assessment, complete with risk scores, automated reminders, remediation and out of the box reports. Its leading features are as follow:

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    Industry’s only cloud solution that offers bottom-up assessments from asset and process owner standpoint

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    Choose from a list of information security-specific audits or upload custom audit templates

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    Drag-and-drop builder for simplified creation of questionnaires

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    Instantly create assessments based on standards (NIST, CIS Controls, PCI, SOX, GDPR, CCPA, CMMC, ISO 27001, HIPAA, HITRUST, FFIEC, SOC 2)

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    Generate action plan summary reports for management

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    Assign remediation tasks as tickets using the out of the box ITSM integrations

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    Prioritize critical tickets to reduce their impact on clients.

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    A modern-day end user experience

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    No exorbitant set-up fee or mandatory training fee