ServiceNow recently released its second sponsored study on cybersecurity vulnerability and patch management, conducted with the Ponemon Institute. The study surveyed almost 3,000 security professionals in nine countries to understand how organizations are responding to vulnerabilities.

The study, “Costs and Consequences of Gaps in Vulnerability Response,” found that more resources are being spent on preventing, detecting and remediating vulnerabilities, but organizations are not able to minimize the risk of an attack. On average, organizations are spending $1.4 million annually based on vulnerability management activities, an increase of an average of $282,750 from 2018 when organizations spent an average of $1.16 million. This finding indicates the importance of improving the efficiency of the vulnerability management process through automation and more resources.

Vulnerability Response is part of ServiceNow Security Operations, a security orchestration, automation and response engine built on the Now Platform. Designed to help security teams respond faster and more efficiently to incidents and vulnerabilities, Security Operations uses intelligent workflows, automation and a deep connection with IT to streamline security response.

Currently, only 44% of respondents say their organizations use automation to assist with vulnerability management and patching.

At Covestic, we have a dedicated Security Operations practice area with a team of experts highly trained in implementing ServiceNow Security Operations. We can help your organization use the platform to automate tasks and improve your coordination, collaboration and response process across all key functions.

Our Covestic Best Practice Guide to Prepare for a CyberSecurity Breach provides insights on process elements and ServiceNow Security Operations capabilities to improve the overall effectiveness of communication and collaboration during a cybersecurity crisis. Get it here.

*Information in this blog is directly sourced from ServiceNow’s press release and study.