What is Vulnerability Assessment?

Vulnerability assessments are methodical procedures that locate, evaluate, and rank weaknesses in your hardware, software, and infrastructure. These evaluations are the starting point of any cybersecurity strategy.

What is the importance of Vulnerability Assessment?

Once aware of their exposure and risks, organizations should take a proactive approach to cybersecurity. Prior to being exploited, vulnerabilities can be found, allowing you to take the required precautions to reduce risks. The Payment Card Industry Data Security Standard (PCI DSS) is a good example of that as it mandates annual penetration testing of all company networks and applications. Succeeding cyberattacks can seriously harm an organization's finances and reputation. Fixing vulnerabilities before they are exploited is less expensive than reacting to a data breach or system intrusion. Most businesses today don’t even have a plan on how to react in case of a cyber-attacks and would probably not find out about a breach until other sources warn them. Regular evaluations help prevent breaches and retain confidence with customers and partners. The illustration below from Gartner shows that vulnerability management is continuous. This is because vulnerabilities are frequently found, and those that have already been marked may still pose a security concern.

Industry Standards as a Guide

While there is no definitive timeline mandated, industry standards and best practices provide guidance:

• ACSC Essential 8 - Calls for monthly internal and external scans as a benchmark for cyber maturity.
• NIST - Recommends monthly vulnerability scans, especially for sensitive systems. More frequent for high-risk environments.
• ISO 27001 - Mandates regularly checking for technical vulnerabilities in the ISMS.
• PCI DSS - Requires quarterly external and internal vulnerability scans for merchants handling cardholder data.

Risk Assessment Should Drive Frequency

Organizations should match the vulnerability assessment frequency to their risk tolerance, threat landscape, and security priorities. For example:

• Public sector entities, defense contractors, hospitals - monthly or biweekly due to sensitive data.
• Retail, manufacturing, other mid-large businesses - monthly or quarterly.
• Small businesses - quarterly or semi-annually.

The type of systems being assessed also plays a role. Scan critical infrastructure like finance and industrial control systems more often.

Recommended Frequency

There is no one-size-fits-all recommendation for how frequently you should perform vulnerability assessments, but the following industry best practices offer some direction:

Periodic Assessments: As a common practice, many organizations choose quarterly vulnerability assessments. These can be annually or bi-annually for smaller businesses with minimal exposure. While enabling prompt reactions to fresh vulnerabilities and shifts in the threat landscape, this plan aids in maintaining ongoing security.
Continuous Monitoring: Continuous monitoring technologies that automatically evaluate vulnerabilities and offer real-time data are used by some businesses. Continuous monitoring is very useful in surroundings that change frequently and are dynamic.
Event-Driven Assessments: In addition to scheduled assessments, organizations should conduct assessments in response to specific events, such as a security incident, system upgrade, or significant changes to the network.

A combination of the above, in line with the business’s activities and inherent risks is usually the most relevant approach. Although there are some broad suggestions, the best timeline depends on each company's risk tolerance, industry requirements, network complexity, and security maturity. Ultimately, the objective is to proactively detect and address vulnerabilities to safeguard critical data and keep your IT infrastructure secure in the face of a constantly changing threat environment. A strong cybersecurity plan must include regular vulnerability assessments to keep firms one step ahead of online threats.