Security ratings are metrics used by a number of different companies to quantify businesses’ cyber risk. As security ratings continue to mature, more organizations in the public and private sectors leverage ratings to make business and risk decisions. Because of the increased interest in security ratings, the US Chamber of Commerce has some recommendations for industry-wide approaches to increase the public confidence in them:
The general purpose for these guidelines is to provide security ratings that are as trustworthy and well-known as the current system of credit ratings. This is a worthy goal, but the cyber security sector just isn’t there yet. The meaning of a specific security rating can be hard to pin down, as it depends on the company’s data set as well as the methodologies they apply to those data sets.
Security ratings may be incorrect, for a couple of reasons:
Compare the relative security of your assets and/or your suppliers to each other. Track the progress you’ve made. Getting the most accurate security rating is predicated on having a recent internal cyber security assessment.
The SecurityGate Security Risk and Compliance Management Platform automates this process, giving you access to your company’s milestone progress to cyber security compliance, as well as all your suppliers and vendors. You can then quickly isolate your security issues with the most up-to-date information.