Knowing your environment is foundational to an effective cybersecurity strategy. IT asset management enables organizations to know what assets they have and where they are found, ensuring that all assets are tracked so they are properly secured.

Vulnerability management and asset management go hand in hand. By systematically identifying, assessing, and addressing vulnerabilities, organizations can proactively minimize their exposure to cyber threats and protect their most valuable assets. This process is essential for maintaining robust security posture across the entire network.

With so many different pieces of software and infrastructure being used across organizations, it becomes increasingly important to establish a formal and well-organized system for IT asset management, to manage the lifecycle of organizational assets proactively and effortlessly.

By combining asset management and vulnerability management efforts, we can dramatically improve our organization’s security posture.

What Risk Does Improper Asset Management Pose?

Without a robust asset management strategy, organizations are vulnerable to undetected weaknesses and unpatched flaws, which can lead to data breaches and system compromises. This neglect not only increases the risk of cyberattacks, but can also result in severe financial losses, reputational damage and legal consequences.

Unauthorized or unknown IT assets – often referred to as shadow IT – can introduce security risks to the network. Asset management, along with network discovery tools, helps IT administrators find all devices that connect to the network. When administrators know what is connected to the network, they can put checks in place to verify that assets are compliant with security controls and updates. Assets that don’t check into the network for a period of time can also introduce a security risk. With asset management, administrators can be notified if an asset doesn’t report into the network, allowing them to investigate missing assets that have been stolen or lost.

Non-traditional IT devices, such as IoT devices, continue to flood networks. IT administrators need to document all devices, both traditional and non-traditional, so they can assess the security risk accurately. Asset management keeps non-traditional IT devices visible to security administrators, ensuring that all devices, such as IoT hardware and supporting software, are properly secured and kept current with the latest software and security updates.

To navigate these effectively, organizations need a strong and proactive approach to cybersecurity asset management.

The Benefits of Effective Asset Management for Vulnerability Management

Vulnerability management is the process of identifying, assessing and mitigating vulnerabilities in systems and networks by following these principles:

• By scanning all assets to uncover weaknesses in the network
• Prioritizing the vulnerabilities
• Remediating the vulnerabilities

This process works well when provided with the full visibility of assets. This is where IT asset management plays a crucial role.

Without the full visibility of IT assets, just one forgotten device could be running outdated software or even malware that could one day compromise the entire IT infrastructure. Simply put, we cannot protect what we don’t know about.

There are three ways businesses currently prioritize their risk: manual triage, using a third-party vulnerability management tool or using a personalized automated prioritization platform. Regardless of the method to prioritize risk, it is important to set parameters and assign to remediation teams, so organizations can prioritize the vulnerabilities affecting the most crucial systems.

These are two huge benefits that asset management brings to vulnerability management: full visibility of IT assets to identify every weakness lurking within it and a rich, contextual understanding of how each asset operates and brings value to our organization, which is key to informing vulnerability prioritization.

Best Practices for Cybersecurity Asset Management

Asset Discovery and Inventory Management

Effective asset management begins with a thorough discovery and inventory process. Organizations should implement tools and technologies to automatically detect and catalog all assets within their environment. Regularly updating the asset inventory ensures that new assets are tracked and managed appropriately.

Continuous Monitoring and Vulnerability Assessment

Continuous monitoring is essential for identifying vulnerabilities as they arise. Regular vulnerability assessments help organizations stay ahead of potential threats by uncovering weaknesses in the assets. Integrating monitoring with asset management allows for real-time updates and more accurate risk assessments.

Integration of Asset Management with Incident Response and Risk Management

Asset management should be integrated with incident response and risk management processes. By linking asset data with incident response protocols, we can quickly identify affected assets and contain threats more effectively. This integration also enhances risk management by providing a clearer understanding of asset vulnerabilities and their potential impact.

The Benefits of Prioritizing Cybersecurity Asset Management

Effective cybersecurity asset management delivers substantial benefits, enhancing operational efficiency, strengthening security measures and optimizing resource allocation. Here’s how prioritizing asset management can transform your organization.

• Streamlined Processes and Accurate Resource Tracking: Maintaining up-to-date inventory streamlines processes, reducing administrative burdens and preventing asset duplication. It ensures that resources are available when needed and eases better planning for future upgrades.
• **Proactive Vulnerability Management and Risk Assessment: **A detailed asset inventory enables proactive vulnerability management, minimizing the risk of cyberattacks. Understanding asset risks allows for thorough and prioritized risk mitigation, ensuring critical areas are addressed promptly.
• **Faster Detection and Improved Coordination: **Effective asset management enhances incident detection and response by providing precise information on affected systems. This quick identification eases quick communication among IT and security teams, speeding up containment and mitigation efforts.

Selecting the Right Asset Management Tools and Software

Choosing the right asset management tools and software is crucial for effective implementation. Look for solutions that offer comprehensive asset discovery, tracking and vulnerability assessment capabilities. The right tools should also be integrated seamlessly with other security systems and processes.

Effective cybersecurity asset management is a cornerstone of vulnerability assessment. By understanding the importance of asset management, recognizing the risks of poor preparation, and implementing best practices, organizations can better protect their IT assets from cyber threats.

To learn more about how to strengthen asset management as part of your vulnerability program, or discover what tools are a best for your organization, reach out to Optiv’s vulnerability management experts.