Understanding the Purpose of the Bug Bounty Platform

As per Gartner, by 2025, 30% of critical infrastructure organisations will experience a security breach that will halt operations- or mission-critical cyber-physical systems.

According to reports, 64% of companies worldwide have experienced at least one cyber attack. Hence, Nowadays, most organisations are looking to make their platform secure to build customer trust and avoid cyber attacks. Bug bounty platforms are helping these organisations find vulnerabilities regularly and secure them from hackers. 

Let's explore the purpose of bug bounty platforms.

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What are Bug bounty platforms?

“An event is never the objective. It is the platform for achieving an objective.”-Pieter BF Swart.

Yes, if any organisation wants to host a successful bug bounty event to protect itself from future cyber breaches, it will need a stage for it, which is the bug bounty platform. 

Bug bounty platforms host bug bounty programmes from various organisations and provide rewards to bug hunters for discovering vulnerabilities in software. Bug bounty platforms are one of the best ways to regularly improve the security posture of systems and applications.

Bug bounty platforms have a complete setup where organisations can launch their bug bounty programs, and ethical hackers can participate. Through the bug bounty program, bug bounty platforms provide opportunities to detect and fix vulnerabilities according to the level of vulnerabilities they have paid independent hackers.

Bug bounty platforms like Pentabug have a highly-vetted elite crowd for your bug bounty program, ensuring your team gets the real and exploitable security vulnerabilities.

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Why is there a need for Bug bounty platforms?

Bug bounty platforms are becoming more popular in the cyber security world, helping organisations protect against data breaches. With the number of cyber-attacks going up, companies are beginning to understand what bug bounty platforms are for. Here are a few top purposes of bug bounty platforms - 

1.Bug bounty platforms are a one-stop solution for various vulnerability disclosure programs.

2.Bug bounty platforms reduce the administrative burden on the organization and provide complete flexibility to bug hunters to report vulnerabilities.

3.Bug provides legal protection to hackers by allowing them to engage in various bug-hunting activities through ethical hacking methods.

4.Bug bounty platforms are beneficial for organisations that do not want to expose their bugs to the public; Therefore, the platform allows for the testing and fixing bugs within the organisation without releasing any sensitive information.

5.Bug bounty platforms help organisations with detailed testing and reporting of bugs. It helps developers to know about bugs regularly.

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‍ROI of Bug Bounty Platforms

Every cybersecurity testing event's ultimate goal is to save money, time, and resources; that's what bug bounty platforms provide. Organizations only pay for the bugs discovered and launch the bug bounty platform only when they feel the need for any security testing. In this way, bug bounty platforms provide complete flexibility in cost and time aspects.

Internal security teams have limited skills, but bug bounty platforms have access to larger groups of skilled talent from all over the world with diverse skill sets and approaches, which provides a broader scope of expertise. Most platforms nowadays prefer bug bounty programs over traditional security testing.

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How Pentabug can help?

Pentabug is a bug bounty cum responsible disclosure platform that assists various organizations with security testing by thousands of highly experienced and vetted security researchers from around the globe.

With Affordable pricing, Pentabug provides complete flexibility and a trusted crowdsourced security researcher for bug bounty programs, making it unique from other platforms. Reach us at hello@pentabug.com to avail Pentabug's premium solutions.

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