This blog was updated March 2025.
Cybersecurity risk assessments have gone from a “nice to have” to a “must have” for businesses. In the United States alone, cybercrime totaled $452.3 billion in 2024, and that cost continues to climb. Yet many businesses lack regular IT security audits and don’t understand why a risk management framework is essential for businesses.
The best cybersecurity risk assessment tools help companies evaluate their existing security landscape to identify potential threats and vulnerabilities. Your cybersecurity audit checklist starts with understanding how to build a cybersecurity strategy for small businesses.
The 5 Types of Cybersecurity Assessments
There are five key types of cybersecurity assessments for your business to consider.
1. Baseline Risk Assessments
Baseline risk assessments, also called IT risk assessments, are a high-level evaluation of all technical assets. These assessments examine how your technical assets are managed and stored to help you identify where application security defects occur.
2. Penetration Testing
Penetration tests, also called pen tests, are simulated cyberattacks that examine your digital infrastructure and reveal vulnerabilities. They can evaluate the strength of web application firewalls and other aspects of a website. It is critical to learn how to conduct a penetration test and put that plan into action.
3. Red Team Testing
Similar to penetration testing, red team cybersecurity assessments use simulated cyberattacks, but they have a much more narrow scope. Pen tests provide a broad overview of identified vulnerabilities, while red team testing focuses on accessing specific target data or systems.
4. Vulnerability Assessments
After all security issues have been identified, a vulnerability assessment evaluates recognized weaknesses. During this assessment, each vulnerability is quantified and prioritized.
5. IT Audits
More narrow in focus than IT risk assessments, IT audits evaluate specific items of your technology infrastructure including:
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Applications
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Data use and management
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IT policies
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IT procedures
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IT operational processes
The goal is to ensure that all systems are secure and in compliance with established regulations and requirements.
Trava Security also offers NIST Risk Assessments, which help you identify voluntary best practices designed to thwart cybersecurity threats. This cybersecurity risk assessment, following a framework developed by the National Institute of Standards and Technology, ensures your business addresses issues proactively.
Want To Learn More?
Trava Security offers cybersecurity risk assessments, including baseline risk assessments, penetration tests, and much more. Learn more about the types of risk assessments and how Trava approaches each one here.
What Are the Types of Security Testing for Software?
Trava also provides application security testing. Application security testing was developed to protect software application data and code against cyber threats. The two main types of application security are:
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Static application security testing (SAST): This test increases software security by evaluating the source code to pinpoint vulnerabilities.
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Dynamic application security testing (DAST:) DAST evaluates web applications by simulating threats to test security strength and identify vulnerabilities.
Understanding how these security testing formats function is important for SaaS leaders who need to achieve and maintain SOC2 or ISO27001 compliance certifications.
How Do You Perform a Cybersecurity Assessment? Start With a Checklist
A checklist is the best place to start when performing a cybersecurity assessment. The main objectives are to:
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Identify all potential consequences of an attack
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Evaluate threats and vulnerabilities
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Assess the risks associated with every threat and vulnerability
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Develop your risk management plan
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Build a strategy to monitor and handle risks
For in-depth instruction regarding cyber security assessments, check out Trava’s comprehensive guide. In addition, the NIST National Checklist Repository is also worth exploring. This valuable public resource contains a variety of security configuration checklists for specific IT products or categories of IT products.
Assess Risk Now Before Cybercriminals Strike
If you are ready to start your security journey today, take Trava’s free risk assessment. This quick online assessment includes a vulnerability scan of your website. We will share an in-depth risk report and your Cyber Risk Score, which both offer greater insight into your current cybersecurity standing.
What Is a Cybersecurity Risk Assessment Tool?
Cybersecurity tools simplify and streamline the cybersecurity process, so you can easily protect your business’ most vital assets.
Specific risk assessment tools can:
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Help your organization evaluate the current landscape of industry cybersecurity risks
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Address the trifecta of vulnerabilities, threats, and risks
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Simplify the sometimes complex and overwhelming landscape of risk assessment and risk management
Trava provides a wide range of tools to identify cyber threats, reduce risk, and insure financial assets. We offer:
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Risk assessment surveys
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Vulnerability scans
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Phishing simulations
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Cybersecurity risk documentation
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Cybersecurity resources
If you are ready to address cybersecurity risk, get in compliance, and protect your business, your customers, and your data, book an intro call today to see what Trava can do for you.