Safe Security, a leading provider of cybersecurity risk quantification and management (CRQM) software solutions, has officially linked-up with Booz Allen Hamilton to launch a next-generation Integrated Risk Management-as-a-Service (IRMaaS) suite of offerings.
According to certain reports, the stated suite is designed to continuously monitor and manage cyber risk. This it does through data-driven insights, powered by cutting-edge technology and advisory services.
More on the given collaboration would reveal how it combines Safe Security’s SAFE One solution – which operationalizes the industry-leading FAIR™ CRQ framework – with Booz Allen’s Global Commercial business. By doing so, the companies are able to conceive an innovative set of solutions that allow for business and security leaders to take objective decisions in the context of how best to protect their organizations from cyber threats. This involves, on a more specific note, measuring and managing risk in financial terms, based on data analytics of telemetry data and fit-for-purpose risk management frameworks (RMF).
“Collaborating with Booz Allen’s Global Commercial business allows us to combine our technological innovations with their approach to cybersecurity as a business-enabling function, delivering a powerful suite of solutions to meet the complex cyber risk management demands of today,” said Saket Modi, CEO of Safe Security.
Talk about the given development’s benefits on a slightly deeper level, we begin from its promise to conduct Continuous Cyber Risk Assessments. The idea behind that is to help organizations gain clarity into the top cyber risks impeding cyber resilience and the technical vulnerabilities underpinning.
Next up, we must get into the way companies across the board can bank upon this combined solution to design their cyber program strategy, and at the same time, optimize their budget. Here, you can come expecting tailored strategies to prioritize and optimize cybersecurity investment strategies using metrics based on financial terms.
Then, there is a facility available to support regulatory reporting and risk reporting. The stated facility includes support for clients’ boards of directors and compliance in relation to regulations and requirements such as NYDFS, NIS-2, OSFI, PCI, SEC, etc.
Joining that would be the availability of IRM Program Transformation and Managed Services that pave the way for end-to-end program design, build, and operational support.
Finally, our last piece of highlight stems from the combined solution’s potential in terms of helping you access intelligible third-party risk management.
Among other things, it must be mentioned that the IRMaaS suite, during its pilot program, has already went on to display significant success, including significant cost savings through automation, optimized cyber defense, and risk management strategies.
“We are excited to collaborate with Safe Security and deliver this transformative solution,” said Michael Vallone, Global Director of Cyber Risk Solutions in Booz Allen’s Global Commercial business. “Together, we are addressing the pressing need of organizations to strengthen their cybersecurity and risk management programs to improve operational resilience against emerging threats with accuracy, precision, and speed through high fidelity decision support.”
Founded in 2012, Safe Security’s rise up the ranks stems from rewriting the playbook on cyber risk measurement and management, something which the company has done by leveraging its real-time, data-driven approach. You see, the stated approach is best known for empowering enterprise leaders, regulators, and cyber insurance carriers to gauge cyber risk in a consolidated yet granular manner. In case that wasn’t enough, Safe Security’s recent acquisition of RiskLens hands it an uninterrupted access of the world’s most advanced cyber risk analytics model (FAIR), supported by practitioners in over 50% of Fortune 500 companies. Not just that, it also delivers at the company’s disposal world’s most advanced AI-fueled Cyber Risk Cloud of Clouds, processing over three billion signals a day.
As for Booz Allen Hamilton, it makes its case on the back of a track record in advancing the nation’s most critical civil, defense, and national security priorities. You see, the company combines more than 100 years of strategic consulting expertise with the perspectives of diverse talent to ensure best possible outcomes. Booz Allen’s excellence in what it does can also be understood once you consider it was named among Fortune’s America’s Most Innovative Companies in 2024.