Acceleration of the Digital transformation in the Computer Age has enhanced demands for threat identification and vulnerability analysis in the organizations. Insider attacks and external imposters in organizations lead to tremendous risks with prominent impacts. Vulnerability assessment entails the process of identification and analysis of vulnerabilities with risks in systems, software, hardware, applications, and any other IT assets. This vulnerability assessment intends to disclose vulnerabilities at any instant and reduces corresponding cyber risks to the organization through either mitigation or remediation.
As per Cybersecurity Ventures, by 2020, the predicted number of passwords leveraged by humans and machines will inflate around 300 billion.
We need a robust security strategy to defend proliferating data from cyber attacks and subsequently reducing risks associated with the cyber attacks. Vulnerability assessment is an essential strategic phase in cybersecurity that involves assessing the effectiveness of security controls and determines the security posture of the organization. It helps to evaluate gaps between security functions and requirements of an organization followed by risk management. The usual types of vulnerabilities may include errors in codes, weak passwords, configuration weaknesses, hardcoded confidential, other deficiencies, and excessive privileges. All the vulnerability assessments are associated with distinct levels of cyber risks.
Following are the five effectual steps to leverage Vulnerability Assessment to reduce cyber risks:
- Identify and list the vulnerabilities in the security systems including the network, hardware, software, and all others Perform gap analysis and determine the differences between the designed and implemented security controls
- Evaluate the functionality of the security control in fulfilling the security and compliance requirements
- Determine the risk levels associated with the deviation in the functionality of the security control along with their probability and impacts
- Prepare the vulnerability assessment report and propose recommendations for remediation
The organization can further mitigate risks based on their probability and impact levels. The results of the vulnerability assessment are presented as a significant review to exploit the detected vulnerabilities.