Managing and Mitigating Your Risk

Start with a Cybersecurity Scorecard

When you need customized solutions to protect your business from evolving cyberthreats.

How much money and time could you save your business – and customers – by partnering with experts in the field who can help you manage and mitigate your risk and reach your assurance and compliance goals?

The “Verizon 2023 Data Breach Investigations Report,” an annual study conducted by the Verizon Threat Research Advisory Center (VTRAC) for the past 20 years, has found that external actors were responsible for 83% of breaches, and that 95% of those breaches were motivated primarily by financial gain.

Even more alarming, over the past two years that figure has jumped 10%. This is likely due to higher ransomware potential payouts, combined with multi-attack strategies having a higher probability of success. What’s more, the median cost to victims per ransomware incident has more than doubled, with 95% of incidents resulting in a loss of $1 to 2.25 million.

Cybersecurity Grants for Tribes

As the threat of damaging cyber-attacks continues to grow, so does the number of Federal grants intended to help Tribal Nations strengthen their cyber defenses. But applying for and actually securing these funds can be challenging—which is where REDW’s Cybersecurity team comes in.

We discover where you’re most vulnerable, so you know just where to focus your efforts.

Most information security breaches occur through just a handful of attack vectors, and yet many companies spend 90% of their time on threats that only happen 5% of the time. Or they believe that meeting compliance requirements is sufficient to keep them safe.

REDW takes a different approach to risk assessment that is simple, but very effective, based on years of experience investigating hundreds of incidents.

Our 5-Step Approach

The five basic steps of any dynamic risk assessment are easy to understand — if not always easy to apply. Essentially, it’s a matter of:

  •  Identifying which of the known cyberattack methods are most likely to pose an immediate threat to your organization; and
  • Using that list as a guide for prioritizing, then quickly remediating any detected vulnerabilities before they lead to a breach.

What Business Processes Are Examined?

We ask targeted questions and deliver an implementation plan within a short timeframe by analyzing critical business and financial processes like purchasing, invoicing, and accounts payable, with a sharp focus on potential cyberthreats.

This plan outlines the necessary fixes and prioritization, enabling you to address the most significant risks to your organization’s information infrastructure quickly and cost-effectively.

What’s Involved in an Cybersecurity Risk Assessment?

To help maintain the confidentiality, integrity, and availability of your organization’s information, an IT audit examines your Information Technology (IT) infrastructure, applications, and data, benchmarked against current IT best practices and cyber risk.

An effective audit will illuminate the areas and degrees of cybersecurity risk you need to address, in order of priority, to reduce possible legal, financial, and reputational exposure.

Do I need an IT Governance Audit?

Governance necessarily forms the basis of any concerted risk management effort – its legal, economic, and cultural foundation.

If and when a breach occurs, questions typically arise of Who made these decisions? and How did we get into this situation?

Having a solid governance platform in place helps your leadership effectively address and expedite next steps.

Does your operation meet NIST standards?

REDW follows NIST’s cybersecurity framework guidelines to evaluate cyberthreats and conduct comprehensive security risk assessments for clients, delivering an actionable report within 2-3 weeks.

Our transparent and efficient process minimizes staff disruption while gathering information, identifying inherent risks, and outlining vulnerabilities with recommended steps for managing and mitigating those risks.

Can You Afford to Wait?

SCHEDULE A CRITICAL RISK ASSESSMENT

Make the Grade with Security Scorecard

Rating your cybersecurity posture from a hacker’s point-of-view helps you focus on where you’re most vulnerable. For organizations looking for a quick, holistic analysis of their cybersecurity risk, enterprise-wide, we offer Security Scorecard with risk assessment analysis.

✅ Get the Scorecard with Free Consultation

Your team is your first line of defense.

Your employees are frequently exposed to sophisticated cyberattacks that are continually evolving. They need to know the latest tricks to watch out for to avoid getting trapped. In fact, most companies are now required by law to conduct mandatory cybersecurity training for employees that includes monthly “phishing” exercises.

Is Cybersecurity Awareness Training Right for My Business?

As mentioned, the average cost of a data breach is $4.35 million. With cyberattacks on the rise, hackers are becoming more sophisticated and dangerous by the day. As businesses rely more on technology to operate, they also become more vulnerable to cyber threats. Investing in robust cybersecurity awareness training is no longer an option for organizations but a necessity.

Studies show that close to 90% of data breaches involve human error, highlighting the need for comprehensive training. Regardless of your industry, awareness training helps equip your staff with the skills and tools they need to recognize and respond to cyber threats. The more informed your team is, the more empowered they’ll be to identify potential threats before they become serious problems. With the help of REDW’s partnership with KnowBe4, you can engage your employees with interactive training that prepares them to help defend your organization.

The High Costs of Cybercrime

With the average cost of data breaches soaring, it’s important for your organization to recognize the high costs of cybercrime. In addition to costs from breaches, you must account for lasting reputation damage and loss of customer trust. With hackers constantly evolving their methods, it’s impossible to prevent every attack. However, comprehensive training significantly reduces the odds of a successful breach occurring.

Well-trained employees can spot suspicious emails, unsafe web links, and questionable attachments. They know how to safely handle sensitive data and are less likely to fall victim to social engineering. With vigilance and knowledge, many data breaches can be avoided altogether. The return on investment in high-quality training is substantial when considering the financial and reputational implications of a major cyber incident.

The Benefits of Comprehensive Training

A strong cybersecurity culture is rooted in education. When employees are empowered to be the first line of defense, an organization’s overall security posture is elevated. Training brings many advantages beyond preventing attacks, including:

  • Reduced human error and risky behavior.
  • Employees serving as extra eyes to identify vulnerabilities.
  • Less disruption from incidents as staff members know how to respond.
  • Stronger organizational resilience against cyber threats.
  • Positive brand reputation for security consciousness.
  • Increased ability to retain and win over customers.

Investing in skilled training should be non-negotiable for any business that values its assets. As part of your cybersecurity services, prioritize employee education that encourages secure working habits throughout your team.

Ongoing training will keep your employees alert - and your organization safer.

REDW has partnered with KnowBe4, the world’s largest integrated platform for security awareness training combined with simulated phishing attacks. When you subscribe to KnowBe4’s automated Security Awareness Training through REDW, you can rely on our experienced cybersecurity pros to administer the program efficiently and effectively, so you can rest easy and focus on what you do best.

  • Engage Employees with Interactive Learning
  • Assess Security Knowledge & Culture
  • Test for Success through Simulated Attacks
  • Access a Vast Library of Customizable Content
  • Deal with Suspected Phishes Safely
  • Advanced Reporting Keeps You In the Know

Cybersecurity Awareness Training

CONTACT US TODAY TO SUBSCRIBE

Whether the government, industry, or clients demand certification, we’ll help you get it.

Compliance with stringent InfoSec standards isn’t just a good idea. Many industries and government agencies actually require that you prove adequate protections are in place to defend your organization against cyberattacks. More and more clients, too, are building such stipulations into their contracts. Which is why REDW offers help with obtaining the particular certification you need.

Security Certifications Included

  • SOC-1 – Used by CPAs to evaluate, test, and report on the effectiveness of an organization’s internal controls over financial reporting
  • SOC-2 – A security framework specifying how customer data is protected from unauthorized access, security incidents, and other vulnerabilities
  • PCI – A set of 12 security standards businesses must use when dealing with credit card data
  • ISO/IEC 27001 – A leading international standard for managing the security of information assets
  • HIPAA/HITRUST – The compliance standards and framework healthcare organizations must implement to protect the privacy, security, and integrity of protected health information
  • CMMC – Cybersecurity controls and processes

Credentials You Can Trust

As a business advisory firm committed to meeting the highest standards of performance ourselves, you can be sure we take compliance with regulations very seriously.

Our highly-credentialed cybersecurity professionals:

  • Have decades of cybersecurity experience consulting as experts to government, industry, and many Fortune 500 companies
  • Have been published in leading cybersecurity journals
  • Skillfully apply the same processes used by many leading cybersecurity companies

Security Certification Preparation

Helping you meet specified requirements

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Invest in Cybersecurity Services Today

While training is a key part of cybersecurity management, REDW offers a more custom, integrated approach to your enterprise. Our process is transparent and efficient, from thorough risk assessments to implementing key findings into your security strategy. Within 2-3 weeks of the start of our assessment, we’ll deliver an actionable report that makes a real, tangible impact within your organization.

Don’t wait for issues to arise before you invest in cyber threat management. Let our team give you a total solution uniquely suited to your cybersecurity needs.

Frequently Asked Questions

What is a cybersecurity service?

A cybersecurity service refers to a range of professional services and solutions designed to protect digital systems, networks, data, and information from various cyber threats and attacks. With the increasing reliance on technology and the internet, the importance of cybersecurity has grown to safeguard sensitive information, maintain business continuity, and ensure the privacy of digital assets.

What are three types of cybersecurity?

Three types of cybersecurity include:

  1. Network Security: Network security focuses on protecting the integrity, confidentiality, and availability of an organization’s computer networks and the data that flows through them. It involves measures to prevent unauthorized access, data breaches, and cyberattacks targeting the network infrastructure.
  2. Information Security: Information security, also known as data security, revolves around safeguarding the confidentiality, integrity, and availability of data and information assets. This includes sensitive customer data, intellectual property, financial records, and other critical information.
  3. Application Security: Application security focuses on securing software applications and systems against vulnerabilities and threats that can be exploited by malicious actors. It involves identifying and remediating software flaws that could potentially be used for unauthorized access, data breaches, or other cyber attacks.
What are some services a cybersecurity company can provide?

A cybersecurity company can provide a wide range of services to help organizations enhance their security posture. Here are some common services:

  1. Vulnerability Assessment and Penetration Testing: Cybersecurity companies perform vulnerability assessments to identify weaknesses in an organization’s systems, networks, and applications. Penetration testing involves simulated attacks to assess how well the organization’s defenses hold up against real-world threats.
  2. Managed Security Services: Managed Security Service Providers (MSSPs) offer ongoing monitoring, detection, and response to security incidents. They manage security technologies, perform threat analysis, and provide incident response services, allowing organizations to focus on their core activities while outsourcing security operations.
  3. Incident Response and Forensics: Cybersecurity companies assist organizations in developing incident response plans and protocols to effectively manage and mitigate the impact of security breaches. They also provide digital forensics services to investigate security incidents to determine the cause, scope, and impact.

When you need nothing short of a total solution.

Conducting in-depth assessments of your Information Security measures and training your staff to be more vigilant are all critical to strengthening your organization’s cybersecurity. But if you’re looking for a more robust and integrated approach to protecting your entire enterprise, REDW will build a custom and comprehensive cybersecurity program for you from the ground up.

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