Are you paying for the right Security Risk Platform?

Introduction

In the intricate realm of security risk management, businesses often face the challenge of deciphering an array of platforms, all promising comprehensive risk management solutions. This blog aims to demystify these platforms, focusing on three types most commonly found in the marketplace: Physical Security Threat Intelligence Platforms, Security Audit/Compliance Platforms, and Security Risk Management Platforms.

Understanding each platform's unique offerings is crucial to making an informed decision.

Understanding the Platforms

1. Physical Security Threat Intelligence Platforms

Physical Security Threat Intelligence Platforms play a vital role but primarily focus on 'what to protect your assets from.' These platforms are an important piece of the puzzle, contributing valuable insights into the broader security risk management strategy and generally include:

• Threat Analysis and Assessment: Analysing the nature and potential impact of potential threats.
• Real-Time Alerting: Monitoring various information sources to provide immediate alerts.
• Geopolitical and Environmental Monitoring: Keeping track of geopolitical events and environmental factors that might pose risks.
• Customisable Intelligence: Tailoring the intelligence feed to specific organisational needs.
• Collaborative Information Sharing: Facilitating the exchange of information among various entities for broader threat intelligence.

Examples:

• CapIndex: Data-driven solutions for crime risk forecasting and assessment.
• Crisis24: Delivers global security insights, enhancing real-time decision-making in crises.
• Intelligence Fusion: Provides a wide-angle lens on global incidents, offering customisable threat intelligence.
  
  

2. Security Audit/Compliance Platforms

Security Audit/Compliance Platforms answer the 'how vulnerable are my assets' question. They focus on identifying compliance gaps and vulnerabilities but only encompass part of the spectrum of risk management. They may offer:

• Automated Compliance Assessments: Evaluating an organisation's infrastructure against security standards.
• Policy Management and Enforcement: Assisting in formulating and applying security policies.
• Continuous Monitoring and Reporting: Providing ongoing oversight of systems and processes for compliance.
• Integration with Existing Systems: Offering centralised security and compliance data management.

Examples

• Human Risks: Focuses on managing security risks and compliance in a user-friendly manner.
• EasySetGo: Specializes in streamlining security assessments and audits.
  
  

3. Security Risk Management Platforms

These platforms provide an overarching framework for identifying, assessing, and mitigating various security risks, incorporating both cyber and physical aspects. They generally include:

• Risk Identification and Assessment: Systematically pinpointing potential risks to organisational assets.
• Customised Threat Intelligence Integration: Aligning external threat data with the organisation's unique profile.
• Utilisation of Audit Findings: Using audit data to refine the organisation's risk profile.
• Dynamic Risk Profiling: Continually updating the risk assessment based on new intelligence and findings.
• Risk Mitigation Strategies and Controls: Suggesting specific measures to address identified risks.
• Compliance Management: Ensuring risk management strategies comply with legal and regulatory standards.
• Reporting and Analytics: Offering insights into the effectiveness of risk management activities.
• Stakeholder Engagement and Communication: Ensuring all stakeholders are informed about the risk landscape.

Examples

• HawkSight SRM: Offers an ISO-standardised risk framework suitable for physical and cyber security risk management and enhanced risk visualisation through digital mapping and dashboards.
• Sectara: Provides a robust ISO standardised framework for security risk assessment and management.

A Holistic Approach to Security Risk Management

Understanding the unique offerings of each platform type highlights a critical realisation: a comprehensive security strategy requires a platform that not only identifies threats but also encompasses a broader risk management perspective. Security Risk Management Platforms are designed to provide a holistic view of an organisation's security posture, integrating data from various sources, including physical threats and compliance requirements, to deliver a complete picture of the risk landscape.

Tailoring Through Integration

Security Risk Management Platform provides the framework to answer the three core elements of a risk assessment: What are you protecting? What are you protecting it from? And How vulnerable is it?

Integrating with a preferred Physical Security Threat Intelligence Platform allows organisations to tailor their risk management strategies to include specific, real-time insights on physical security threats to understand what you are protecting your organisation from. It creates a synergy that ensures all aspects of an organisation’s physical and digital security are addressed in a cohesive and coordinated manner.

In Summary ...

In the complex and often confusing world of security risk management software, distinguishing between different platform types is crucial for an informed decision. Each platform type serves a specific purpose, but the Security Risk Management Platform stands out for its comprehensive approach to organisational security. Integrating a Security Risk Management Platform with a preferred Physical Security Threat Intelligence Platform can provide a bespoke, all-encompassing solution, ensuring your organisation is protected and proactively prepared for any security challenge.

Ultimately, understanding and effectively managing risk is not just about having the right tools; it's about integrating these tools with expert human input to create a solution greater than the sum of its parts. Choose wisely, integrate smartly, and secure your organisation’s future.