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Continuous Controls Monitoring: Analysts’ view
“Cybersecurity control failures” is top concern of business executives globally
A globally understood challenge
In its global Emerging Risks Monitor Report, Gartner named “cybersecurity control failures” top of the list of executive concerns in Q1 2021. This shouldn’t come as a surprise to senior business leaders. Executives have been feeling the pain of cyber security risk for many years and the risks are increasing.
With each passing year we see:
- Increasing sophistication from cyber criminals
- A higher volume and a greater variety of cyber threats
- Bigger penalties and potential business losses
- Seemingly never-ending compliance and audit challenges.
Added to which, since 2020 a great many businesses have had to manage the added risk of a pandemic-driven increase in remote working and remote access to business systems.
A recognised solution with a Gartner benefits rating of “High”
Gartner has recognised CCM as an emerging governance, risk and compliance technology and given CCM its own product category. It rates the benefits of CCM technology as “High” and expects it to reach its peak in the next five to 10 years.
Gartner also sees CCM as being essential technology for cyber risk management in large, heavily regulated organisations.
Other IT and technology analysts, too, have recognised that CCM is the solution to common security challenges in larger businesses.
Amongst these challenges is the abundance of technology investments in security tools and controls, which can give businesses a false sense of confidence in their security posture. Furthermore, the point-in-time visibility of data from existing security tools is seen as limiting.
Against this background, interest from businesses in gaining real-time visibility of assets and security controls systems, as enabled by CCM, is increasing fast.
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