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InfoGPS Puts Cyber Risk in to Dollars and Cents; Gives IT Security a Seat at the Table

FOR IMMEDIATE RELEASE
July 1, 2016

INFOGPS NETWORKS v2.04 RELEASE NOW PROVIDES THE FINANCIAL IMPACT OF A DATA BREACH ACROSS ANY SEGMENT OF AN ORGANIZATION.

North Canton, Ohio – InfoGPS now brings “financial impact” reporting into their data security platform with their latest software release – Version 2.04. The software company automates the discovery, classification and risk ranking of unstructured and semi-structured data across large enterprise networks and small business alike, so organizations can understand what sensitive data they possess, how much they have, where it all resides and who has access to it.

Now, with Version 2.04, InfoGPS has added the financial impact, in dollars, that sensitive data represents to the organization with their new Economic Cyber Value™ feature. The feature allows a customer to assign a Cost Per Record to each piece of personal identity information (PII), personal credit information (PCI), and personal health information (PHI). Clients may also define any other type of sensitive information unique to their business model. InfoGPS will provide industry specific risk values to assist clients who are assessing this risk for the first time.

  • Boards of Directors and Officers can now set thresholds on cyber risk based on financial impact; the same way they do for the rest of the operation. They can also now evaluate the effectiveness of spending to reduce those financial risks, and establish proper metrics to ensure mitigation efforts are providing the proper reduction in economic exposures.
  • Individuals responsible for requesting budget dollars to acquire new security controls will be able to quantify the economic risk they are attempting to protect and compare that risk to the cost of acquisition.
  • Individuals who approve expenditures will now have the ability to compare costs with the economic benefits of a solution.

Clients will be able to view all partners, subsidiaries, departments, locations, corporate users, servers, endpoints, on premise files, and files stored in the cloud based on the exact content of sensitive data stored in that segment. All segments are scored and prioritized in four actionable methods to provide a true cross-discipline solution usable by IT, Compliance, Risk Management, Audit and the Board:

Risk Score: a quick visual numeric score, prioritized in order of riskiest data by type.
Risk Weight: a sorted viewed of where classified information is concentrated.
Risk Classification: based on the regulatory requirement to segment critical information by type, or classification. All organizational segments are classified based on the information present in that segment.
Economic Cyber Value™: Every asset is given a financial value based on actual data stored on that asset. This value gives you an exact economic exposure. You do not need to remove every risk, and now you can measure what is present and make proper decisions based on real information understood by executives and the board.

InfoGPS CEO, Paul Hugenberg, states: “the protection of our sensitive and critical information, sometimes the most personal information of customers, is our number one priority as IT Professionals. The most important thing we can do at InfoGPS is help organization address this risk head on, and in the financial language of the decision makers. For years, risk has been a scare tactic dressed as a “score” and a threatening red graph.” Hugenberg continues, “it is proper to address the risks economically. That is how every other business executive interprets information about risk. Let’s see exactly how much exposure we have, and how exposed our customers may be, in dollars and cents. Now, we can act in a very strategic and targeted way to manage these risks and maintain the trust of our clients.”

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About InfoGPS

InfoGPS is a privately held software development company that is pioneering the protection of unstructured and semi-structured data-at-rest to help organizations better manage their risk and secure their regulated data and intellectual property from breach. Their patent pending data security platform allows organizations to detect risk, document compliance and defend data. To learn more visit www.infogpsnetworks.com