| Reduction of long-term costs
Identifying potential threats and vulnerabilities, then working on mitigating them has the potential to prevent or reduce security incidents which saves your organization money and/or reputational damage in the long-term
Provides a cybersecurity risk assessment template for future assessments
Cyber risk assessments aren't one of the processes, it is need to continually update them, doing a good first turn will ensure repeatable processes even with staff turnover
Better organizational knowledge
Knowing organizational vulnerabilities gives you a clear idea of where your organization needs to improve
Avoid data breaches
Data breaches can have a huge financial and reputational impact on any organization
Avoid application downtime
Internal or customer-facing systems need to be available and functioning for staff and customers to do their jobs
Data loss
Theft of trade secrets, code, or other key information assets could mean you lose business to competitors
Beyond that, cyber risk assessments are integral to information risk management and any organization's wider risk management strategy.
1.3 Scope of Check and Assessment
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