NEW YORK--(BUSINESS WIRE)--Axio, the leader in cyber risk management software, today announced it has been named a Leader, the highest designation category, in The Forrester Wave™: Cyber Risk Quantification, Q3 2023. Forrester evaluated 8 cyber risk quantification (CRQ) providers, assessing them on 26 criteria grouped into the categories of current offering, strategy, and market presence. The report illustrates how each provider measures up and helps cyber risk professionals select the right one for their needs. The report states that Axio is a good fit for organizations that leverage a control-based approach in their risk management program, including those in utilities, oil and gas, and the public sector.
According to the report, “Axio applies the power of CRQ to cyber program assessment and insurance decisions. Upcoming innovations include updated AI and machine learning algorithms for its cyber insurance stress-testing solution, a new planning module to develop program budgets and roadmaps based on controls, and a focus on expanding its integration marketplace to ingest real-time data in risk scenario analysis. Axio’s roadmap is well aligned with current customer needs.”
The report continues, “Reference customers highlighted the cyber insurance stress-testing feature and ability to conduct NIST CSF control assessments as value-adds.”
“We are honored to be recognized as a Leader in the CRQ Forrester Wave,” stated Scott Kannry, CEO of Axio. “Our unified vision has always set us apart and we firmly believe that true success lies in the seamless alignment of assessments and insurance decisions. By integrating various components of our platform, we ensure that organizations have a comprehensive and unified view of their cybersecurity program. This alignment empowers boards and senior leaders to make informed decisions and gain a clear understanding of their risk landscape.”
Axio360 enables organizations to transfer risk capital using an optimal balance of financial and security controls. The platform has a complete suite of features to assess, manage, and plan cybersecurity improvements. Axio360 customers have successfully used the platform to quantify cyber threat scenarios beyond the financial impacts of a data breach, such as physical disruption and complex business operations.
“Axio’s mission is simple - to be the easiest and most defensible CRQ product on the market," stated Nicole Sundin, Chief Product Officer for Axio. “We built Axio360 with a user-first approach, making the platform accessible and user-friendly to all. We understand that not everyone has specialized expertise or years of training, so we have designed our methodology to be intuitive and straightforward. With Axio360, teams can quickly and effectively quantify cyber risks, providing actionable, defensible, and transparent insights quickly. We are proud to offer a solution that simplifies the complexity of cybersecurity risk quantification.”
To learn more, please download the full report. To read more about how customers are using Axio360 to drive the future of cybersecurity performance management, please visit https://axio.com/axio-customers/.
Axio focuses on key areas of an enterprise that represent the highest risk so organizations can budget wisely, improve cyber resilience, and demonstrate duty of care. The Axio360 platform is a decision-making engine for holistic cyber risk management, including cybersecurity assessments, cyber risk quantification (CRQ), risk transfer, and cyber insurance analysis. Axio’s industry-leading cybersecurity performance management software aligns security leaders, business leaders, and Boards of Directors around a single source of truth about their most critical corporate risks. Since 2016, Axio has been a trusted partner to many of the world’s leading critical infrastructure, energy, manufacturing, and financial services companies, helping drive better visibility and decision-making about cybersecurity priorities and investments. For more information, visit https://axio.com/.