10 Best Cybersecurity Risk Management Tools and Software

What are the steps on how to use cybersecurity risk management tools and software?

Step 1: Identify the risks you face. Use a cybersecurity risk management tool like vsRisk to identify and categorize the cyber threats that you face.

Step 2: Analyse the risks. Use the risk management tool to analyse the risks and determine how they might occur. Evaluate the effects of each risk and where it fits within your risk acceptance criteria.

Step 3: Prioritise the risks. Prioritise the cyber threats according to their severity in order to address the most important ones first.

Step 4: Decide how to address the risks. Decide how to address each risk, whether by treating it, tolerating it, terminating it, or transferring it in line with your risk profile.

Step 5: Monitor your risks. Monitor the cyber threats and security controls to ensure that they remain acceptable.

Step 6: Implement the solutions. Implement the solutions recommended by the risk management tool to secure your network, system, and application from cyber-attacks.

Step 7: Develop a cybersecurity awareness program. Develop a cybersecurity awareness program to educate your staff on the importance of cybersecurity, how to detect cyber threats, and how to properly respond to any identified threats.

The best cybersecurity risk management tools and software

1. ManageEngine Vulnerability Manager Plus

ManageEngine Vulnerability Manager Plus is a package of tools designed to assess risk and vulnerability in endpoints, Web systems, and mobile devices. It can scan and assess equipment running Windows, macOS, and Linux and the automated processes in the package include steps to fix any problems that the scanner finds. It has a vulnerability scanner that runs every 90 minutes, crawling through your hardware inventory and assessing each device. It also has a risk assessment procedure that examines the configurations of OSs and the settings of software to spot security weaknesses. In addition, Vulnerability Manager Plus has a software inventory service that identifies the current patch status of each OS and software installation on your network, a tool that can spot unauthorized or end-of-line software on devices and alert about them, and remediation procedures that include scripts to update configurations and block zero-day attacks. It also has a patch manager that will automatically schedule needed updates for OSs and software and run them during maintenance windows. Finally, it has hardening for Web servers and Web assets to block internet-based attacks, such as DDoS and cross-site scripting, as well as system assessments for issues such as open ports, port forwarding, and access list loopholes. ManageEngine Vulnerability Manager Plus runs on Windows Server and it is available for a 30-day free trial .

2. Security ratings

A security rating is a numerical indicator that can be used to help organizations evaluate their cybersecurity posture. Security ratings provide an objective and data-driven view of an organization’s cyber security posture. Security ratings systems can help organizations monitor their internal security initiatives and provide valuable insight into various aspects of security including attack surface management, threat identification, and vendor risk management. Security ratings help organizations assess their cybersecurity risk and improve their overall cybersecurity posture by enabling them to identify, prioritize, and address risks based on the probability of occurrence and their potential financial impact.

3. ZenGRC

ZenGRC is a governance, risk, and compliance (GRC) management platform that offers businesses of all sizes an easy and effective way to manage their internal auditing, compliance, and IT security needs. It is available in cloud-based and on-premise versions so that businesses across industries can benefit from its features.

ZenGRC enables organizations to automate processes related to compliance, as well as to evaluate risks across connections, systems, business divisions, and controls using customizable risk calculations. It can also integrate with existing security solutions to evolve current risk and compliance programs, while also providing easy access to information necessary for program evaluation and continual compliance monitoring.

ZenGRC’s features are what make it a popular choice for businesses looking for a comprehensive cybersecurity risk management tool. It provides an audit management module, automated audit evidence collection, compliance management, policy management, risk assessment, and creation of new compliance programs, making it a complete solution for organizations of all sizes. Additionally, its intuitive UI and robust support make it a great choice for businesses looking for a secure and dependable system to manage their risks and compliance.

4. Resolver Risk Management Software

Resolver Risk Management Software is a cloud-based solution for businesses of all sizes to help them manage their risks better. Resolver provides a single solution to manage risk aversion, mitigation plans, budgets, and forecasts. It also helps to link risk and incident assessments, so that organizations can better understand the root cause of a problem.

Resolver is an award-winning and industry-favorite tool with features like real-time reporting and data-backed recommendations to help mitigate risks. It offers granular reporting and visualizations to help administrators configure workflows. Organizations can also use automated compliance processes with a risk register, policy, and document repositories.

In addition, Resolver is a Niche Player in the Gartner Magic Quadrant for IT Risk Management and has great reviews across three risk management solution categories. This software is useful for cybersecurity risk management as it helps organizations to better manage and mitigate their risks. It provides a single solution to monitor and manage risks, helps link risks and incidents, and automates compliance processes. This helps organizations to stay proactive and secure their systems from cyber-attacks and data breaches.

5. NIST Framework

The National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) is a popular framework that provides a comprehensive set of best practices to help organizations better manage and reduce cybersecurity risk. It defines a map of activities and outcomes related to the core functions of cybersecurity risk management—protect, detect, identify, respond, and recover. By establishing a common language for managing cyber risk, enterprise security teams are able to build comprehensive risk management strategies that are understood across departments.

The NIST Cybersecurity Framework is designed to help organizations identify and respond to cyber threats and to improve cyber risk management communication between internal and external stakeholders. The framework is divided into five functions, each related to different aspects of risk management. The five functions are as follows: identify, protect, detect, respond, and recover. This level of detail helps organizations ensure that they are properly managing cyber risk while also enhancing their ability to identify threats.

The NIST Cybersecurity Framework is a popular risk management tool because it is comprehensive, well-established, and helps organizations assess and reduce the risk of cyber threats. The NIST Cybersecurity Framework provides best practices and guidelines that are informed by existing standards and practices, which enables organizations to better manage and reduce cyber risk. Additionally, the NIST Framework pushes to improve communication between stakeholders, ensuring that risk management strategies are properly understood across departments.

6. Penetration testing

Penetration testing is a form of security assessment that involves actively attempting to penetrate and exploit systems, networks, and applications to uncover security vulnerabilities. It is used to identify weaknesses and potential threats to a network’s security, which can then be addressed and mitigated. Through penetration testing, organizations can get an understanding of the effectiveness of their security measures and the potential risk of a cyber attack.

By conducting a penetration test, organizations can uncover vulnerabilities in their network and application infrastructure that would otherwise remain undetected. This allows organizations to identify and prevent potential security issues before they become a problem. Furthermore, penetration testing can help organizations stay compliant with regulatory standards such as PCI DSS, HIPAA, FINRA, SOC 2, and FFIEC, as well as identify high-risk vulnerabilities and the magnitude of potential business impacts after an attack. It can also help organizations assess the feasibility of a customized set of attack vectors, the network’s ability to detect and respond to an attack, and perform forensic analysis post security incidents.

Overall, penetration testing is an invaluable tool in helping organizations protect themselves from cybersecurity threats and ensure they remain in compliance with security standards.

7. Risk assessment tools your organization can use

What are some cybersecurity risk assessment tools that your organization can use? Organizations can use a variety of assessment tools and options to help streamline the cyber risk assessment process and improve the accuracy of results. These tools include automated questionnaires, security ratings, third and fourth-party vendor-provided tools, vulnerability assessment platforms, NIST Framework, penetration testing, and employee assessments. Additionally, organizations can access high-level security risk scans or in-depth assessments to cover risks across their entire organization.

8. Pathlock

Pathlock is a Cybersecurity Risk Management Tool that provides a range of solutions for automating key access control and security features. It is trusted by thousands of customers across the globe and is designed to reduce fraud and identify inefficient processes in order to Put Money Back on the Books. The features it provides include access control management and user certification, the quantification of risk for the reporting of SODs, defining and provisioning the roles of users, and management of vulnerabilities in applications. It also has a home dashboard that shows users status and the risks they pose.

Pathlock is a useful tool for managing cybersecurity risks as it can identify out-of-policy transactional activity, monitor user activity, and provide stakeholders with visibility into the actual bottom-line cost of risk and its impact on business processes. It also helps prioritize compliance efforts based on the dollar-value effect of each risk, and assists in achieving compliance to various standards such as SOX, HIPAA, PCI, and GDPR. All of these factors make it an invaluable tool for managing cybersecurity risks.

9. Enablon

Enablon is a cloud-based software solution that helps organizations manage their environmental, health, safety, and operational risks. This comprehensive suite of tools allows businesses to reduce costs and increase efficiency by utilizing data-driven decisions and efficient resource utilization. Enablon is an invaluable cybersecurity risk management tool because it provides protection against zero-day attacks, highly-accurate out-of-the-box capabilities, and effective protection against OWASP top 10 vulnerabilities. Furthermore, it is easy to implement, has a user-friendly interface and provides excellent customer support. All these features make Enablon an invaluable tool for organizations looking to mitigate their cyber risks.

10. Isometrix

Isometrix is a leading provider of cyber security risk management software, offering solutions for environmental, health and safety (EHS) management, environmental, social and governance (ESG) management, and governance, risk and compliance (GRC) management. It is a technology company that has been trusted by multiple global brands for over 25 years.

Isometrix believes that it is possible to obtain powerful and wide-ranging benefits from properly managing governance, risk, and compliance. By utilizing a single integrated system instead of multiple-point solutions, Isometrix has refined their risk management system and enabled clients to be proactive in managing risk. Some of its features include built-in dashboards with risk heat maps and role-based insights, a central repository for risks, threats, vulnerabilities, processes, and assets, and AI-powered issue management with root cause analysis and remediation.

Overall, Isometrix is useful for cybersecurity risk management because it provides an integrated system for managing all aspects of GRC and risk management, from cyber risk quantification to threat and vulnerability management to policy administration. It also helps organizations to streamline their processes and be proactive in dealing with risks, thus reducing the potential damage from cyber attacks.