First subscription-based service allows organisations to jump-start proactive, continuous risk management and compliance programs

Sydney 11 May, 2005 - Addressing a growing need for the provision of risk management managed services, SiegeWorks International today announced the launch of its proprietary managed solution for security risk management.

The initiative enables enterprises to contract risk management services on a subscription basis for the first time. Importantly, it gives organisations the flexibility they need to 'ramp up' the myriad interconnected processes, people and technologies required of a comprehensive risk management program in line with their changing needs.

The move to subscription-based services fills a gap in the market and helps to overcome the intimidation many enterprises face when addressing security risk management implementation.

While enterprises today are compelled to implement risk management programs that assure customers, partners, shareholders and governments that the privacy and integrity of their records and assets are protected, implementing a comprehensive risk management throughout the organisation - at the strategic, tactical and operational level - is a daunting task.

While most managed security service firms offer traditional functions like remote firewall and gateway management, vulnerability assessment and incident response, a growing shortage of security and compliance professionals along with mounting boardroom pressure to show risk reduction is driving demand to outsource more than just basic infrastructure operations by many enterprises.

As risk management transforms to a 'supra-business process' that is interwoven in everything an organisation does, key functions can effectively be outsourced, jump-starting the process of dramatically lowering risk for the enterprise, and delivering critical results in weeks, rather than months.

SiegeWorks International, through its innovative Risk Management Solutions and Services offering, has responded to this emerging need for managed solutions supporting risk management functions including asset classification, business impact analysis, threat modeling, application, database and network fortification, attack simulation, remediation optimisation and risk and compliance reporting.

Siegeworks International's subscription-based managed solutions model fills a gap in the market by providing an alternative that takes the complexity of security operations out of the enterprise's hands. It enables enterprises to focus on business processes that need fortification and bypass the lengthy solutions acquisition processes that often hamper compliance certification, leaving them exposed to potential breaches.

'Risk Management, as a managed solution, is proactive and continuous and is a natural first step in jump-starting a comprehensive risk management program,' Siegeworks International Chief Executive Officer Raj Raghavan said. 'As a subscription-based model, it guarantees certified, experienced security professionals, and allows enterprises to bypass prolonged solutions acquisition stages - making risk management a reality faster.'

SiegeWorks International conducts proactive assessments - automatically and continuously, meeting regularly with clients' technical and business teams to ensure potential lapses in compliance due to emerging vulnerabilities are avoided and windows of exposure are closed. It works with clients to produce the daily, weekly, monthly and quarterly risk and compliance reports required of technical, business and regulatory groups.

The offering is based on industry leading technologies powered by SkyboxSecurity's Skybox View Security Risk Management (SRM) platform, combined with Siegeworks International's deep security and compliance consulting expertise.

'We are delighted to see SiegeWorks International launch this managed solution. Seigeworks is respected for helping customers build business value out of security. This new service eases the entry into risk management by helping customers apply their internal systems to maximise our analytics technology, giving them the visibility required to measure and maximise their security ROI.' said Gidi Cohen, founder and Chief Strategy Officer of Skybox Security. 'We believe that by combining the right people, processes and technologies, SRM can transform security into a proactive business process.'

Organisations need to stay on top of new exposures that may be opening up due to the changes in the way we do business. By working with SiegeWorks, companies can show very clearly how they are lowering risk continuously.

The subscription-based managed solutions model presents a significant business opportunity for both provider and client, according to SiegeWorks International partner Phi Corporation Chairman Mr. Nobuya Yoshida. 'This model provides the opportunity for SiegeWorks International to generate significant ongoing revenue streams, while enabling customers to maximise their own business potential by minimizing the complexities of their continuing security risk management,' Mr Yoshida said.

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