SPOKANE, Wash., Feb. 21, 2014 /PRNewswire/ -- CXOWARE announced the release of RiskCalibrator - CyberRisk, its enterprise cybersecurity risk analysis application. The release coincides with substantial market demand from senior level executives wanting a clearer understanding of their financial loss exposure due to cybersecurity incidents.
Business decisions are made every day by Board members and C-Level executives based on a financial perspective of their operational, market, and strategic risk. Cybersecurity risk has historically been communicated to executives with qualitative terms and statements such as "High, Medium, & Low" or "Red, Yellow, & Green." Without a "dollars and cents" perspective, executives have difficulty understanding cybersecurity risk in the same monetary business context as other forms of risk. As a result, it's difficult to establish and assess the sufficiency of a cybersecurity risk mitigation budget.
CXOWARE's RiskCalibrator helps solve this problem by quantifying an organization's cybersecurity risk into monetary terms. Armed with RiskCalibrator, Chief Risk Officers, CIO's, and Chief Information Security Officers are now able to translate technical security information into business intelligence that is clearly understood by C-Level executives and Board Directors. The end result is better informed decisions related to cybersecurity, more effective oversight, and fiduciary care structured to manage and optimize loss exposure.
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CXOWARE: CXOWARE is a quantitative risk software company providing cybersecurity risk analysis solutions. CXOWARE's applications provide Chief Information Security Officers (CISO's) and Risk Officers with a decision-analysis solution that dramatically improves their ability to measure the monetary loss associated with cybersecurity risk. Decision-makers can efficiently tailor risk mitigation budgets to the highest loss exposure areas, thus saving money and reducing liabilities to the business. CXOWARE's RiskCalibrator software is the only FAIR (Factor Analysis of Information Risk) authorized software and is based on The Open Group Risk Analysis Standard, Factor Analysis of Information Risk (FAIR).