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BitSight Security Ratings continuously monitor and quantify the cyber risk of third parties, enabling organizations to efficiently scale their vendor risk management programs. Ratings can be instantly shared with critical third parties fostering more effective collaboration around security.
With new threats emerging daily and companies increasingly outsourcing, managing vendor risk is becoming increasingly critical to protecting a company’s most important assets.
Gartner estimates that by 2020, 75% of Fortune Global 500 companies will treat vendor risk management as a board-level initiative to mitigate brand and reputation risk.
The third party risk gap is growing, and while current approaches to the problem are helpful, they typically only provide a moment-in-time snapshot of security risk. To proactively mitigate risk, organizations need automated tools that continuously measure and monitor the security performance of vendors.
BitSight Security Ratings for Vendor Risk Management deliver timely, data-driven insights into any vendor’s security performance by continuously analyzing, and monitoring companies’ cybersecurity, all from the outside. Security ratings are generated on a daily basis, giving organizations continuous visibility into the security of key business partners.
With the ability to drill down into the security details used to generate an organization’s rating, companies can:
Significantly increase vendor coverage through automated, continuous monitoring of cybersecurity risks.
Facilitate decisions, which used to take days/weeks/months, in minutes or seconds.
Instantly share ratings with critical third parties directly in the vendor portal, fostering more effective collaboration around security to better protect your company’s assets.
Identify and prioritize efforts on vendors of highest risk, based on independent third party validation of rating correlation to breach.