The partnership between continuous controls monitoring (CCM) platform Panaseer and consulting firm PwC in the UK looks to pave the way for accurate measurement, monitoring, and reporting of cyber risk.
Panaseer customers will be able to leverage executive reporting dashboards from PwC UK, which will be informed by continuously updated, accurate, assurance metrics.
The combination of PwC UK’s strategic and executive reporting expertise and real-time security data from Panaseer’s CCM platform will facilitate advice for improving risk posture.
Using these capabilities, customers will be able to reduce risk of cyber incidents and fines, whilst saving time and resources, which are currently spent on security reporting and compliance.
By giving a holistic and quantitative view across the entire technical security landscape, customers are able to complete robust risk modelling and scoring to make risk-based diagnosis and decisions.
In addition, investments can be prioritised based on risks that matter the most, which will maximise return on investment from risk reduction initiatives.
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“One of the biggest challenges in cyber security is visibility,” said Charaka Goonatilake, CTO of Panaseer.
“As the threat landscape expands and regulatory pressures increase, it becomes even more important to be able to have a continuous and accurate measurement, monitoring and reporting of cyber risk. This is what CCM enables.
“Our collaboration with PwC UK takes it one step further. By wrapping together our technology with its consulting services, risk modelling good practices and executive reporting dashboards, we are enabling customers to make critical decisions based on risk scoring and business context.”
Philippe Korur, cyber risk reporting platform lead at PwC UK, commented: “Our cyber team is passionate about driving tangible value to our clients through innovation and pragmatism.
“Through Panaseer’s CCM platform, our clients can leverage existing tooling investments in order to effectively enable a strong continuous control monitoring capability with minimal further investment.
“This combined with our cyber risk advisory services and risk reporting will enable our clients to get the best value and protection.”
Gartner recognised CCM as a new product category in its 2020 Risk Management Hype Cycle. While Panaseer was listed as an inaugural vendor, PwC UK was named a Leader in European Cybersecurity Consulting Services in the Forrester Wave for European Cybersecurity Consulting Providers in Q4 2019.