Why you need a cyber risk assessment report

Protect your business with a comprehensive cyber risk management solution.

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What do our clients love about us?

“Working with Trava has been an extremely impactful decision for Encamp. It would have been next to impossible for us to create a robust, enterprise-ready security process and tech stack without their assistance, particularly on the accelerated timeline that we needed. For a growth startup, time is one of the most valuable assets. Trava made it possible for us to break into the enterprise space at least six months quicker than we could have by ourselves — the ROI was extremely clear.”

Luke Jacobs

CEO & Co-Founder of Encamp
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Trava offers a complete solution to protect your business from cyber threats.

Assessment

  • Cyber Risk Evaluation
  • Cyber Maturity Survey
  • Insurance Review
  • Foundational Scans
  • External
  • Certificate
  • Dark Web
  • Application Scans
  • Cloud
  • Microsoft 365
  • Web App
  • Internal Scans
  • Endpoint Agent
  • Internal Network
  • Asset / Discovery
  • Phishing Simulation
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Mitigation Consulting

  • Complete in-depth risk surveys and compliance audits
  • Work with security experts to perform mitigation activities
  • Get advice from a virtual CISO
  • Create and implement programs for cyber risk management and secure software development
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Insight and vCISO Advisory

  • Baseline Cyber Risk Assessment
  • Compliance-as-a-Service
  • Secure Software Development Lifecycle (SDLC)
  • Cyber Risk Management Program
  • Cyber Policies & Standards
  • SOC2 & ISO 27001 Readiness
  • Dark Web Scan Analysis & Action Plan
  • Enterprise Risk Management
  • DFARS / CMMC / NIST 800-171 Readiness
  • Security Questionnaire Management
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Insurance

  • Coverage for Common Cyber Threats:
  • Cyber Extortion
  • Social Engineering
  • Business Interruption
  • Virus Transmission
  • Liability Implications
  • Limits from $100K to $10M
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Risk Assessment Report  

If you run a business in today’s marketplace, then you need to take note of any potential risks regarding your business. While many people probably think about physical security on this list, the reality is that you need to think more about your digital security as well—and maybe even more urgently. 

Think about it. How are people going to find your business and purchase things from you? There is a good chance that a significant number of your customers are using the internet to find you and buy your products and services. As a result, you will be most competitive if your business has a strong online presence. But at the same time, you also leave yourself vulnerable to certain risks if you have a digital presence. This is where a risk assessment report can be helpful.

If you are trying to get the most out of your risk management report, then it may be helpful to take a closer look at a security assessment report template. Even though a risk assessment report template, such as a Word document or PDF, may be a good place to start, you still do need to use the right company risk assessment report for your small business.

Companies in most industries, even manufacturing, are susceptible to numerous types of digital security risks, including phishing scams, ransomware, Trojan Horse attacks, DDoS attacks, SQL injections, and man-in-the-middle attacks. If you familiarize yourself with all of these risks, then you can keep up with your potential vulnerabilities and how to address them.

Clearly, this is a lot of information to cover, and you will need to condense all of this information into a report that is easy to read, and in some cases, to report and present on. This is why you need to focus on risk assessment report writing. That way, you can communicate information effectively with your team and even stakeholders and investors.

Risk Assessment Report Writing

You might be wondering how to find a sample of a risk assessment report. If you are wondering “how do I write a risk assessment report,” keep in mind these important elements. 

When you are focusing on risk assessment report writing, it is helpful to take a look at a risk assessment report example, perhaps in a PDF that you find online. For example, there are several questions that you’ll need to answer if you are putting together a risk assessment report for a manufacturing or software company, as two examples. These include:

  • What are the most important technological assets we have at our company?
  • What type of data breach would have the biggest impact on our business? What type of personal information do we have that could be revealed to hackers if we leave ourselves vulnerable?
  • What internal vulnerabilities do we currently have? Are there any external vulnerabilities we need to think about?
  • What are the most relevant threats to our business today?

If you think carefully about the answer to each of these questions, then you should be in a good position to begin answering the question, “how do you write a risk assessment report?”

Depending on the industry in which you operate, this report can take many shapes and forms. For example, if you work in the healthcare field, then you are responsible for safeguarding a great deal of confidential patient information. Furthermore, you are working in an industry that is never able to shut down, even for systems recovery or similar issues. Therefore, a healthcare or healthcare-adjacent business can become a particularly vulnerable target for ransomware attacks. As a result, you should include information about this kind of entity and its circumstances when you are putting together your risk assessment report.

Even though you might be worried about finding, including, and interpreting all of this information in your report, keep in mind that you do not have to go through this alone. There are risk assessment professionals who can help with this kind of project. That way, you can not only write an accurate report but also interpret and apply the information in it properly. This is just one reason why you should work with trained cybersecurity technology professionals.

Security Risk Assessment Report Sample

If you are putting together a security risk assessment report sample, there are many shapes this text can take - even within related industries. For example, a sample risk assessment report for construction may look different from a sample risk assessment report for a manufacturing company. With a strong and industry-specific cyber security risk assessment report sample, though, you will have the information that you may need in order to make tough decisions down the road.

There are several important sections if you are putting together this report, including:

  • Relevant Threats: What are the most important threats to your company today? For example, phishing attacks might be a significant threat if your employees have not gone through training recently. Or, other companies in your industry have been vulnerable to Trojan Horse attacks. What type of threats do you need to worry about?
  • Current IT Assets: What assets does your company currently have on hand? What are your digital assets? If hackers were to attack the company, what might they target? You can discuss your vulnerabilities in this section as well.
  • Potential Impact: What potential impacts could each type of cyberattack have on the company? If the business were to be targeted by hackers, what would be the result? What would this mean for the bigger picture of your company?
  • Current Response Plan: If the company were able to respond, what would this look like? What steps would the company take in response to different kinds of risks, and then to the actual attacks? This is where you decide what you would do in the event of a serious cybersecurity event.
  • Recommended Steps: Of course, the report should also lay out a few recommended steps. What are a few steps that your company specifically can take in order to improve its current cybersecurity situation?

Of course, this report will look different in different industries. It will also look different when compared to a physical security risk assessment report or a physical security risk assessment. So if you need help putting together this kind of report, then you may want to reach out to risk assessment professionals who can help you.

Risk Assessment Template

If you are trying to produce this sort of report for the first time, then it makes sense that you may not know exactly where to begin. That is okay! This is why you should take a closer look at a risk assessment template. Keep in mind, too, that this will be different from a physical security assessment report template or a physical security risk assessment report template. Instead, you should focus on a cybersecurity risk assessment PDF. This can be an important part of your safety assessment report template.

If you are trying to find the right template for your company, then it is often worth starting with the industry in which you operate. The templates available are going to look different in finance, manufacturing, construction, and healthcare, just to name a few. This is because there are different technological assets, as well as different levels of vulnerability, present in each industry. That is why you should try to find a template that has been specifically designed for your particular industry.

After you have narrowed down the reports by industry, then you should think about the size of your company as well. Depending on the size of your company, your digital assets will be different. Therefore, you may find that one kind of template is more helpful than another. Here is another area where, if you have questions or concerns, then you should probably reach out to a risk assessment professional who can assist you.

Cyber Security Risk Assessment Report Template

If you are trying to prepare a cybersecurity risk assessment report template, then you may be thinking about beginning with a general example, such as a cybersecurity risk assessment template in Excel. However, even though this may be a good place to start when it comes to a security assessment report template PDF, an Excel spreadsheet will only get you so far. Instead, you will be better off using a software program that has been specifically designed for digital security, instead of a physical security risk assessment checklist or a physical security risk assessment matrix.

There are several elements that should be included in your cyber security risk assessment report template, which include:

  • What measures has the company taken in order to prepare for specific threats in a cybersecurity-focused world?
  • When was the last time the company had to deal with a cybersecurity event?
  • What areas or vulnerabilities has the company needed to deal with recently?
  • What types of digital assets does the company currently have on hand?
  • If the company was targeted by hackers, what would the potential impact be?

Clearly, these questions are very different from a physical security risk assessment example. This is just one reason why it might be better for you to go with a professional cyber security risk assessment report template instead.

IT Risk Assessment Template

Ultimately, there are many options available if you are looking for an IT risk assessment template. For instance, if you are looking for an information security risk assessment example, then you may want to take a closer look at the NIST framework, which tends to be much more effective than a physical security risk assessment tool.

If you use the NIST (National Institute of Standards and Technology) cybersecurity risk assessment template, then you will be able to produce a comprehensive cybersecurity risk assessment report PDF. There are many people who like to use this framework because it will not overlook any important parts of a security report. You need to use an existing template or a proven framework to make sure you do not miss anything, because all  it takes is for hackers to exploit a single opening in your business. 

For this reason, you should reach out to trained risk assessment and IT security professionals who can help you get the most out of your security report and maybe even guide you through how to produce one yourself. There are also software programs and risk assessment tools that you can use to make sure you do not overlook anything. Whatever route you choose to go, if you prioritize the digital security of your business, then you can protect the confidential information of your company and your customers alike.