Why you should be benchmarking your cybersecurity performance against industry peers

Why you should be benchmarking your cybersecurity performance against industry peers 1 RiskXchange The leader in Third-Party Cyber Risk Management

RiskXchange allows you to compare your rating to that of your competitors to remain one step ahead.

Benchmarking your cybersecurity performance against industry peers will not only ensure your organisation stands out in the crowd but will help improve its cybersecurity programs. By assessing the effectiveness of your organisation’s tools, policies, and processes, you will remain one step ahead of the curve which, in turn, will yield new business and a better reputation.

In order to gain insight into your businesses’ cybersecurity performance, clear, continuous, and actionable metrics are needed for peer and competitor comparisons, and to reflect against different business units. Metrics that can be continuously monitored overtime to ensure that your business is safe and secure.

Although many different approaches provide a partial indication of your organisation’s cybersecurity posture, standardised and quantitative measures like security ratings are the most effective. RiskXchange can help your organisation gain a more holistic view of its security posture by collecting and analysing millions of data points while leveraging machine learning algorithms to identify signals and attribute findings accurately.  

Let’s take a closer look at the benefits of cybersecurity benchmarking.

The RiskXchange platform

The RiskXchange platform has been developed by a team of cybersecurity experts dedicated to helping businesses across different industries solve complex cybersecurity and compliance challenges using its cybersecurity rating solution that provides an all-encompassing, 360-degree view of your cybersecurity posture. 

RiskXchange allows businesses of all sizes to detect cyber risks, monitor its current cybersecurity posture and compliance status, build a more secure network, and create an easy-to-understand reporting framework around an organisation’s cybersecurity program. 

With cyberattacks evolving and becoming more sophisticated by the day, it is crucial to invest in technology that allows you to oversee your entire attack surface so that you have the means to respond swiftly. 

The RiskXchange cybersecurity ratings platform provides all the information you need to improve security. We provide instant visibility into your current cybersecurity risk level and identify security issues across several risk factors. 

Pinpoint your security failings for improvement

Security ratings provide a holistic view of your cybersecurity posture and help highlight the areas which need attention. They will provide you with a score that can be compared against a peer, competitor or any other organisation which will give you all the indicators you need to address and improve cybersecurity programs.

Once you’ve pinpointed the areas that require attention, resources can be allocated to fix them. While some security areas require standard remediation strategies, others will need a penetration test or other assessment tools to determine whether a solution has been successful. Security rating benchmarks will allow you to compare your rating before you rolled out the changes to the present day to determine success.

Peers and competitors

Having a benchmark of your cybersecurity performance allows you to compare it to competitors. RiskXchange will provide you with the tools to compare your rating to that of your competitors to remain one step ahead. Our regular reports will demonstrate exactly how secure your network is and how best to improve areas to stay ahead of the competition.

Share your success

Once it becomes clear that your organisation is leading the pack, share that information with investors, clients, and prospects. Using this information to demonstrate that your organisation has a higher score than a competitor will help secure new business and build a better reputation within the industry.

How RiskXchange can help

RiskXchange is one of the firms leading the fight against cybercrime, coming up with novel solutions to everyday problems experienced at the hands of hackers. We are a respected provider of cybersecurity ratings and can benchmark your cybersecurity performance against industry peers.

With full visibility over your eco-systems’ entire attack surface in near real-time, you can regularly monitor and mitigate risks to prevent unnecessary exposures. Our passive data collection methods are effective and have no impact on your network performance. Using data-driven insights to prevent breaches is the best way to reduce an attack surface and prevent cyberattacks. 

About RiskXchange

RiskXchange provides a powerful AI-assisted, yet simple automated and centralised 360-degree cybersecurity risk rating management approach. We generate objective and quantitative reporting on a company’s cybersecurity risk and performance, which enables organisations with evolving business requirements to conduct business securely in today’s open and collaborative digital world. 

RiskXchange is an information security technology company, which helps companies of all sizes fight the threat of cyber threats by providing instant risk ratings for any company across the globe. RiskXchange was founded and is led by recognised experts within the security industry, who have held leading roles within companies such as IBM Security. 

Find out more here.