“We help C-level executives understand cyber risk by translating it to simple, monetary terms,” says Paul Farrell, CEO of Nehemiah Security. “If senior executives cannot see cyber risk in financial terms, it’s very hard to get a grasp on what is the true exposure to cyber risk,” he continues. Once you understand the scope of the cyber risk exposure the next step is determining what to do about it. Nehemiah Security analyzes its clients’ existing cyber exposures and presents recommendations in a prioritized fashion to help leaders determine which cyber projects they can invest in with the best ROI that reduces their exposure.
To date, risk quantification has been for the few companies that can afford months of consulting hours building complicated spreadsheets that provide a point in time view of risk. This challenge has led to Nehemiah Security creating scalable, repeatable models that use complex algorithms to remove subjectivity from the risk assessment equation. As a software-oriented organization, Nehemiah Security focuses on creating user-intuitive, automated solutions that business teams can easily integrate into their existing digital infrastructure without fretting about the technicalities involved. The company’s Risk Quantifier (RQ) software platform is engineered to automatically measure and deliver business analytics about clients’ cyber risks and prioritize security exposures based on the said risks. The transparent solution provides clients with complete visibility into existing data on business assets and gives a unified view of the risk environment. Clients are provided market-drive baselines for risk and value, which can be easily refined to meet their custom needs. This reduces the effort from months to days to create defensible numbers that provide viable insights for risk and investment decisions. RQ also offers enterprises with the ability to simulate the financial impacts of cyber-attacks against critical areas of exposures to predict business outcomes and stay ahead of unprecedented losses.
With a robust risk assessment platform ready to be deployed, clients benefit from swift deployment times while also saving capital investment from having to employ separate risk assessment models or investing too heavily in cyber insurance. “Helping bridge the information gap between the business end and the technical end of organizations is one the key objectives of our RQ solution,” continues Farrell. Companies looking to mitigate their risks continuously can use RQ’s automated capabilities to run reports daily, weekly, and quarterly, and align better communication in the boardroom and across the executive suite.
Helping bridge the information gap between the business end and the technical end of organizations is one the key objectives of our RQ solution
Take the case of one of Nehemiah Security’s largest clients in the FinTech space, who started out using RQ to manage their cyber risk in their top 30 business applications. Traditionally, assessing risks in each of these applications and then providing results would constitute months of tedious work. And when the results arrive, they are usually outdated since there could have been a lot of changes either in the enterprise’s management or in the form of new threats that seek vulnerabilities. With Nehemiah Security’s automated RQ platform, the entire risk analysis was completed in 6 weeks, and the management was provided with the analytical data presented in an easy-to-comprehend plan. The client also had the leeway to critique the calculations and adjust it to fit their specific requirements.
Nehemiah Security’s solution helps prioritize quantified risk mitigation plans with recommended security controls to reduce the prospect of losses within organizations. The data can then be used to calculate and compare the ROI of multiple scenarios that align to possible budgets for better security decisions. With the platform quantifying cyber risks and monitoring potential financial impacts of infrastructure suspect to compromise, it provides reliable, objective data for business leaders. “It helps our clients understand cyber risk, provides information in economic terms and removes subjectivity from the cyber-security parameters,” concludes Farrell.