Balbix Announces New Integrations with ServiceNow to Further Automate and Improve Cyber Risk Quantification

Rhea-AI Summary

Balbix has announced new integrations with ServiceNow (NYSE: NOW), enhancing cybersecurity posture automation. The integration allows for automatic mapping of cyber risk to business structures, significantly cutting down operational time. Customers can now quantify risk in monetary terms and link remediation efforts to existing workflows. A survey revealed that 62% of companies struggle to calculate breach risk financially. The integration also enables the creation of ServiceNow remediation tickets directly from Balbix, improving productivity for security and IT teams.

Positive

• Integration with ServiceNow facilitates automatic mapping of cyber risk to business hierarchies.
• Customers can quantify cyber risk in monetary terms, improving visibility.
• Eliminates thousands of hours required for cyber risk operationalization.
• Enables the creation of ServiceNow remediation tickets from within Balbix, enhancing team productivity.

Negative

• 62% of organizations cannot calculate breach risk in monetary terms, indicating a significant gap in risk management.
• 51% of organizations lack continuous visibility into asset inventories, complicating risk correlation.

Integrations with ServiceNow CMDB and ITSM automatically map cyber risk to business hierarchies and risk mitigation workflows, eliminating thousands of hours required to operationalize cyber risk quantification

LAS VEGAS, Aug. 8, 2022 /PRNewswire/ -- Balbix, the leader in cybersecurity posture automation, announced today new integrations with ServiceNow (NYSE: NOW), the leading digital workflow company. As a result of the integrations, customers can automatically augment cyber risk data with business context and integrate remediation efforts with their existing security and IT workflows. CISOs can eliminate thousands of hours from the time required to operationalize cyber risk quantification (CRQ) in dollars and close the gap between cybersecurity and the business.

The integration with ServiceNow's configuration management database (CMDB) allows Balbix customers to automatically ingest business context from their CMBD into the Balbix platform and combine it with asset, vulnerability and risk data from their other IT and security tools, and Balbix sensors to create a unified cyber risk model presented in dollars. Data is automatically deduplicated, correlated and inferenced to drastically reduce the manual labor required for teams to add business context to cyber risks, and prioritize and measure them. For example, with the integration businesses can now:

• Measure and report on the dollar amount of risk by business unit, business leader, asset type, application, regulatory requirement and geographic location (cities, countries, regions).
• Quantify the dollar amount of risk related to externally facing assets, internal assets, assets that the IT department manages, and assets not managed by the IT department.

"Historically, Fortune 500 companies would spend thousands of hours of manual labor mapping business context to their risk data for board reporting, risk analysis and cybersecurity decision making," said Chris Griffith, chief product officer at Balbix. "Our integration with the ServiceNow CMDB, has enabled us to sharply reduce the time needed to quantify cyber risk. With Balbix, CISOs can continuously and automatically map risk to their business hierarchy and prioritize their highest-risk issues for response."

Businesses are struggling to report concrete CRQ results with 62% indicating they cannot calculate their breach risk in monetary terms, according to Balbix's own 2022 State of Security Posture Report. Furthermore, according to the report, 51% of organizations indicated they lack continuous visibility into asset inventories making it difficult to correlate risk with business context, and instead relying on siloed tools, manual workflows, and qualitative analysis to quantify the exposure.

"Cyber risk has become a frustrating business risk to manage as leadership teams struggle to accurately quantify their risk and prioritize initiatives to mitigate it," said Ed Amoroso, Founder and CEO of research and advisory firm TAG Cyber. "These integrations address the growing needs CISOs have to report on cyber risk in a way that their business leaders can clearly understand, to make the right investments and to remediate their riskiest vulnerabilities faster."

In addition to automating advanced CRQ capabilities, the integration with ServiceNow IT Service Management (ITSM) further eliminates manual effort by enabling security teams to create ServiceNow remediation tickets from within Balbix. This enables security and IT teams to increase productivity by using a familiar and shared system for remediation workflow. Moreover, security analysts can create tickets to remediate a vulnerability for a single impacted asset or for a group of assets to specify remediation tasks more efficiently and reduce the mean time to remediate (MTTR) risk issues.

To learn more about Balbix and its integration with ServiceNow, visit https://www.balbix.com.

About Balbix

Balbix enables organizations to reduce cyber risk by identifying and mitigating their riskiest cybersecurity issues faster. The Balbix Security Cloud™ platform ingests data from organizations' security and IT tools to understand every aspect of their cybersecurity posture, build a unified cyber risk model and then provide actionable insights for risk reduction. With Balbix, enterprises can automate inventory of their cloud and on-premise assets, conduct continuous risk-based vulnerability management and quantify cyber risk in dollars. Executives and operational teams can make cybersecurity decisions based on data not opinions.

A rapidly growing set of Fortune 500 companies trust Balbix as the "brain" of their infosec programs and are realizing the benefits of maximally automated workflows and measurably lower cyber risk. Balbix was ranked #32 on the 2021 Deloitte Fast 500 North America, and has been recognized for innovation by Gartner.

For more information visit www.balbix.com.

Media Contact
Chase Ford
Balbix@ruderfinn.com 

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SOURCE Balbix

FAQ

What are the new integrations announced by Balbix with ServiceNow?

Balbix announced new integrations with ServiceNow enabling automatic mapping of cyber risk to business hierarchies and improving risk quantification.

How do Balbix's integrations help in cyber risk management?

The integrations reduce the manual effort needed to quantify cyber risk and allow businesses to measure risk in monetary terms.

What is the impact of Balbix's integration on productivity?

Security and IT teams can create ServiceNow remediation tickets from Balbix, increasing productivity and reducing the time to remediate risks.

What percentage of organizations struggle to calculate breach risk financially?

According to Balbix's report, 62% of organizations indicate they cannot calculate their breach risk in monetary terms.

What does Balbix's integration enable regarding asset inventories?

The integration addresses the lack of continuous visibility into asset inventories, which affects risk correlation.