Deciphering Vulnerability Management: Securing Your Business in the Digital Age 

14 December 2023

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. 

What is Vulnerability Management?  

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. 

Is Vulnerability Management Important for Your Business?

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. 

How Is Vulnerability Management Deployed?

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. 

What are the Benefits of Vulnerability Management?

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. 

Questions to Ask Your IT / Managed Service Provider about Vulnerability Management 

How do you conduct vulnerability assessments, and how frequently? 

Regular assessments are necessary to keep up with new vulnerabilities. 

What tools and technologies do you use for vulnerability scanning and management? 

Effective tools are crucial for thorough and efficient vulnerability management. 

How do you prioritise which vulnerabilities to address first? 

Providers should have a clear methodology for prioritisation based on risk. 

Can you provide examples of how you have successfully managed vulnerabilities for other SMEs? 

Past success is a good indicator of their capability to handle your company’s vulnerabilities. 

How do you ensure that vulnerability management does not disrupt our daily operations? 

The process should be seamless and not cause unnecessary downtime. 

What is your process for patch management, and how will it be integrated into our systems? 

Patch management is a critical component of vulnerability management. 

How do you handle vulnerabilities for which no patch is currently available? 

A good provider should have strategies for mitigating risks even when a direct fix is not immediate. 

How do you involve our internal teams in the vulnerability management process? 

It’s essential for internal teams to be engaged in the process for effective management and response. 

What are the costs associated with your vulnerability management services? 

Understanding the cost is crucial for budgeting and comparing the potential costs of a breach. 

How will you keep us informed about potential vulnerabilities and the status of remediation efforts? 

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. 

Back to news