PALO ALTO, Calif.–(BUSINESS WIRE)–Safe Security Inc., a global leader in cyber risk quantification and management (CRQM), today announced the Return on Security Investment (ROSI) Calculator, a new module in the SAFE platform. Using the ROSI Calculator, CISOs, CFOs, CEOs, and Boards of Directors can, for the first time, measure the ROI of their cybersecurity programs. Using API-driven technology, Safe Security’s ROSI Calculator automatically collects data from the organization’s cybersecurity tools to provide real-time prioritization of the most profitable cybersecurity investments.

Safe Security’s team of data scientists, cyber threat intelligence and financial risk analysts has spent the past three years developing this calculator. The company’s research shows that the top three actions to reduce financial risk from a cyberattack are: encryption of data at rest, a comprehensive and tested business continuity plan, and a strong backup solution. According to findings from Safe Security, taking these three steps can reduce an organization’s financial risk by 30-40%.

“Corporate spending on cybersecurity is expected to grow nearly 12% annually over the next five years.1 while the cost of cybercrime will cost organizations up to $10 trillion by 20252. Organizations are finally realizing that spending more money on cybersecurity controls doesn’t mean they’re less likely to suffer from a cyberattack,” said Michael Coden, associate director of cybersecurity at MIT Sloan, advisor to corporate boards, and one of the top 50 cybersecurity leaders of 2022. By adopting a loss allocation approach, a method used for hundreds of years by financial institutions to calculate risk, Safe Security enables organizations to establish an accurate cyber budget with a reportable return on investment.

Safe Security’s ROSI Calculator provides the most accurate and timely risk calculations using AI-enabled Bayesian networks, aggregating cybersecurity data from IT systems in real time, and reviewing internal cybersecurity metrics. resilience. Using the Secure Security ROSI Calculator, organizations have the ability to compare and prioritize different cybersecurity initiatives based on specific financial risk reduction factors, and prepare for business risk discussions with the board. board, chief financial officer or CEO. The calculator also creates a way to compare defense, mitigation, response, and recovery controls to cyber insurance policies, covering the entire lifecycle of cybersecurity offerings.

Phil Harris, The Research Director, Governance, Risk, and Compliance Services at IDC added, “There is a significant market need to simplify cyber risk quantification and associated business discussions. In the hands of a CISO, or an MSSP for example, an intuitive and easy to use platform like the one offered by Safe Security, which supports and enables cybersecurity leaders to improve their business acumen, is a very promising.

Existing methods for reporting the return on investment of cybersecurity programs and quantifying cyber risks currently available are difficult to use, time-consuming, and imprecise due to ad hoc information. By connecting the Safe Security ROSI Calculator directly to the cybersecurity tools of an organization’s systems, the collection of necessary data is greatly simplified, reducing time, resources and human judgment, and improving accuracy through continuous assessments real-time risks.

“Safe Security’s mission is to help CISOs, C-suites and boards of directors use their cyber budgets to increase business value,” said Saket Modi, co-founder and CEO of Safe Security. “Our clients have been able to focus their cyber investment dollars on the most critical priorities by leveraging the Safe Security platform and ROSI calculator to quantify and maximize their cyber risk reduction. This capability has provided a level of clarity in board reporting regarding cybersecurity risks and budgets that was not possible before. »

For a more in-depth understanding of the ROSI calculator, download the factsheet here.

Safe Security gained momentum over the past quarter with recent announcements of the company’s free CRQ calculator and industry-first free assessments that provide financial risk calculations for cyber attacks and cyber insurance discussions.

Meet the Secure Security Team

Safe Security will be present at the following events. To schedule a demo or a time to meet with us, click here.

  • NACD Summit 2022 – October 8-11 in Washington, DC

  • FinCyber ​​Today 2022 – October 9-12 in Scottsdale, Arizona

  • Cyber ​​Risk Insights Conference 2022 – October 25 in New York

About secure security

Safe Security Inc. is a leader in cybersecurity and digital business risk quantification management, with a mission to build a safer digital future. Safe’s Cyber ​​Risk Quantification and Management (CRQM) platform enables organizations to manage cyber risk in real time. Its platform automatically collects signals from inside and outside a company’s environment to give the company’s specific cyber risk rating, or SAFE Score, the financial impact of a potential violation and a plan of action. This allows organizations to have a common language across teams – from board to analyst – to align on a consistent risk metric. Other benefits include justifying investments in cybersecurity and purchasing cyber insurance for the organization. For more information, visit https://www.safe.security/.

1https://www.gartner.com/document/4009714

2https://www.weforum.org/agenda/2022/01/achieving-cyber-resiliency-in-today-s-digital-frontier/