Vulnerability management isn't just a term to leave to your IT department; it’s an essential business function that ensures your company can withstand the vast array of digital threats.
Safeguarding your company’s digital resources is as crucial as managing its finances, so understanding vulnerability management is a vital part of this responsibility. Let’s delve into what it means and why it’s important for your SME.
Vulnerability management is the cyclical practice of identifying, classifying, prioritising, remediating, and mitigating vulnerabilities in software. It is an ongoing process, not a one-off task, ensuring that potential security weaknesses are continually addressed.
In an SME, where resources are often stretched thin, a single security breach can be catastrophic. Vulnerability management is the systematic approach that prevents this by keeping the company’s software and systems resilient against attacks.
Discovery: Identifying all the assets within your system and the potential vulnerabilities each may have.
Prioritisation: Determining which vulnerabilities pose the most significant risk and should be addressed first.
Remediation: Fixing vulnerabilities, often by applying patches or making system changes.
Mitigation: Taking steps to reduce the impact of vulnerabilities that cannot be immediately remediated.
Reporting: Keeping records of vulnerabilities and the actions taken to resolve them.
Minimises Cyber Risk: Actively looks for and fixes weaknesses to prevent breaches.
Ensures Compliance: Many industries have regulations requiring active vulnerability management.
Protects Reputation: Prevents incidents that could damage the trust stakeholders have in your business.
Regular assessments are necessary to keep up with new vulnerabilities.
Effective tools are crucial for thorough and efficient vulnerability management.
Providers should have a clear methodology for prioritisation based on risk.
Past success is a good indicator of their capability to handle your company’s vulnerabilities.
The process should be seamless and not cause unnecessary downtime.
Patch management is a critical component of vulnerability management.
A good provider should have strategies for mitigating risks even when a direct fix is not immediate.
It’s essential for internal teams to be engaged in the process for effective management and response.
Understanding the cost is crucial for budgeting and comparing the potential costs of a breach.
Communication is key; you should be kept in the loop about your system’s security status.
Vulnerability management isn’t just a term to leave to your IT department; it’s an essential business function that ensures your company can withstand the vast array of digital threats. By asking informed questions, you can collaborate effectively with your IT/Managed Service provider to establish a strong vulnerability management protocol, thereby protecting your company’s assets, reputation, and bottom line.
