Why would a business use Continuous Controls Monitoring to identify and track their Assets?
So many businesses that have grown will have had teams come and go, as well as new tech and processes implemented, so it’s no wonder that assets get forgotten. That is when they often implement a CMBD or asset management tool. They often feel that they have that single source of truth already but so often when working with clients we have been able to ascertain quickly that this not entirely the case.
As our CCM platform connects to any data source we are able to identify assets that are often not discovered by their CMBD, so whilst many believe that Continuous Controls monitoring can provide that single source of truth to your cyber security risk and regulatory compliance environment, there is maybe a little-known fact that CCM significantly improves your overall asset visibility in the following ways:
Real-time Monitoring: CCM allows organisations to monitor their assets in real-time. By continuously evaluating controls and processes, CCM can quickly identify any discrepancies or unauthorised activities related to assets. This real-time monitoring helps organisations respond swiftly to potential issues and prevent asset loss or misuse.
Total Security Coverage: Continuous controls monitoring allows all assets in your entire tech infrastructure to be discovered and monitored and this not only helps you to reduce risk (see below), but also means you can remediate potential issues faster, initialise security measures and policies quicker and respond to threats and risks like never before:
- Proactive Risk Identification: By constantly analysing controls, CCM can identify potential risks and vulnerabilities in asset management early on. This proactive approach helps prevent asset-related incidents and allows organisations to address potential threats before they escalate.
- Data Accuracy: CCM relies on data-driven insights to assess controls and their effectiveness. By analysing large amounts of data continuously, CCM helps maintain accurate and up-to-date information about the organisation’s assets, reducing the risk of outdated or incorrect asset records.
- Significantly Improved Compliance: Asset visibility is often closely related to compliance requirements. CCM ensures that the organisation adheres to relevant regulations and internal policies, reducing the risk of non-compliance penalties and maintaining the integrity of asset records.
- Reducing the attack surface: CCM allows you to discover your assets and monitor them meaning you are significantly reducing the ability of any cyber threats to infiltrate your business
- Fraud Detection: CCM can be effective in detecting and preventing fraudulent activities related to asset management. By monitoring controls continuously, organisations can identify suspicious transactions or discrepancies that may indicate fraudulent behaviour.
- Operational Efficiency: Asset visibility is crucial for optimising asset utilisation and resource allocation. CCM helps streamline asset management processes, identify underutilised assets and ensure that assets are deployed efficiently across the organisation.
- Enhanced Decision-Making: Having comprehensive asset visibility enables better decision-making. With real-time data on assets and their status, stakeholders can make informed choices about asset maintenance, replacements and investments.
- Reduced Downtime: By continuously monitoring assets and their controls, CCM helps identify potential maintenance issues or performance concerns promptly. This leads to reduced downtime and improved asset reliability.
Overall, Continuous Controls Monitoring plays a vital role in enhancing asset visibility by providing organisations with real-time insights, proactive risk identification, accurate data, improved compliance, fraud detection, operational efficiency and better decision-making capabilities. These benefits enable organisations to manage their assets effectively and safeguard against potential risks and losses.
Why not discover how we can support your asset visibility with our CCM platform.