How SRA Can Save Your Company From Disaster

Technology made an immeasurable contribution to businesses. However, a regular security risk assessment (SRA) is important to prevent losses from breaches. Let’s have an overview of the security risk assessment.

What Is SRA?

SRA means security risk assessment. This is also known as a security audit. It is a periodic examination that examines your organization’s security controls. Moreover, the main focus of this assessment is to prevent cyber threats. This helps businesses locate IT security weaknesses and risks.

Furthermore, a security risk assessment checks the organization’s compliance to IT regulations. This examination helps IT professionals see if the security controls are efficient. Afterward, they offer detailed solutions by providing documentation. 

They present the gaps in management. Afterward, the management will decide if they will cancel the project or correct the risks. Otherwise, the management may accept the risk after a careful business-related analysis.

Attackers Target Everyone

Ideally, you might rely on a variety of IT when setting up your business. Some examples are smart devices, PCs, and cloud-based systems. That could be a smart and resource-saving move. 

You could be holding consumer data and employee information. Also, you could be holding possibly detailed product designs. Such data is the ‘apple of the eye’ of attackers.

In other words, it does not matter how big or small your business is. 

Many small businesses think that attackers will turn a blind eye to them. That is an absolute misconception. In summary, any information you have on your systems might be interesting for criminals.

Types Of Security Assessment

There are various types of SRA. Some are:

Penetration testing

It is called pen testing in short. It simulates an attacker. Its purpose is to see if the security measures are working well.

Vulnerability assessment

From the words themselves, it identifies the vulnerabilities of security measures. Afterward, the assessor will propose solutions on how to eliminate them.

Risk Assessment

SRA detects risks and potential losses they bring.

Compliance Assessment

Standards like HIPAA and PCI ensure that the data remains safe. Assessors examine the systems to see if they still comply with these standards.

These are some of the factors that affect the examination model

  1. Size
  2. Growth rate
  3. Resources
  4. Asset portfolio

Benefits Of SRA

This allows you to review the efficiency of your security controls. Moreover, this examination helps you understand how to upgrade your controls. Moreover, a security assessment will help you identify weak parts of your system. Thus, having one step ahead of hackers and enhancing cybersecurity.

Moreover, SRA prevents huge fees imposed on negligence. There are numerous governmental and international compliances. Failure to comply will hurt your budget. Furthermore, this assessment helps you see if your organization complies.

Security risk assessment is not just a one-time project. It should be done at least once a year. Doing so helps the organization keep updated on risks. Furthermore, it prevents you from losing money caused by attacks. Moreover, this prevents your organization from shame. 

The video below helps us understand more the importance of SRA.

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