LONDON, Feb. 10, 2021 /PRNewswire/ -- Panaseer, the first Continuous Controls Monitoring (CCM) platform for enterprise security, today announces that it has joined forces with PwC UK, a leader in cybersecurity consulting services, to offer continuous Cyber Risk Monitoring. This will pave the way for continuous and accurate measurement, monitoring, and reporting of cyber risk.
Panaseer and PwC UK bring together best-in-breed technology and consulting services. Gartner recognised CCM as a new product category in its 2020 Risk Management Hype Cycle and listed Panaseer as an inaugural vendor. PwC UK was named a Leader in European Cybersecurity Consulting Services in the Forrester Wave™ for European Cybersecurity Consulting Providers in Q4 2019.
Customers will be able to leverage executive reporting dashboards from PwC UK, which are informed by continuously updated, accurate, assurance metrics from Panaseer. Together the companies can meaningfully advise and improve a customer's risk posture. The collaboration combines PwC UK's strategic and executive reporting expertise with accurate and real-time security data from Panaseer's CCM platform.
This joint offering will reduce the risk of cyber incidents and fines, whilst saving time and resource that is currently spent on security reporting and compliance. By giving a holistic and quantitative view across the entire technical security landscape, customers are able to complete robust risk modelling and scoring to make risk-based diagnosis and decisions. They can also prioritise investments based on risks that matter the most, which will maximise RoI from risk reduction initiatives.
Charaka Goonatilake, CTO, Panaseer: "One of the biggest challenges in cybersecurity is visibility. As the threat landscape expands and regulatory pressures increase, it becomes even more important to be able to have a continuous and accurate measurement, monitoring and reporting of cyber risk. This is what CCM enables. Our collaboration with PwC UK takes it one step further. By wrapping together our technology with its consulting services, risk modelling good practices and executive reporting dashboards, we are enabling customers to make critical decisions based on risk scoring and business context."
Philippe Korur, Cyber Risk Reporting Platform Lead, PwC UK said: "Our cyber team is passionate about driving tangible value to our clients through innovation and pragmatism. Through Panaseer's CCM platform, our clients can leverage existing tooling investments in order to effectively enable a strong continuous control monitoring capability with minimal further investment. This combined with our cyber risk advisory services and risk reporting will enable our clients to get the best value and protection."
Panaseer is the first Continuous Controls Monitoring platform for enterprise security. It helps businesses make informed risk-based security decisions. The company is aiming to become the security measurement platform of choice for security, risk and IT leaders that are shifting to data-driven programmes. Its clients include the world's largest financial institutions and critical infrastructure enterprises.
Panaseer recently scooped the award for 'Best Regulatory Compliance Tools and Solutions' at the SC Awards Europe in 2020. Its total funding to date is $15.6 million and backers include Evolution Equity Partners, Notion Capital, Albion Capital, Winton Ventures, Paladin Capital Group and Cisco Investments.
For more information: www.panaseer.com
At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.
For more information on PwC UK's cyber security services, please go to pwc.co.uk/cybersecurity.