Business, technology and regulatory environments are changing – new business models are being born (mobile, cloud, Internet of Things), there is disruption of the enterprise IT environment (bring your own device, work from home) and new national laws and industry standards are being introduced.
New persistent, evolving risks emerge in the form of more frequent, sophisticated and malicious attacks, with a wide range of motives from economic to hacktivism. Risks are evolving rapidly and transforming how organisations think about cyber security, while cyber talent war only intensifies and cyber insurance is not yet mature enough to protect.
The way to combat these threats and protect your supply chain from cyber attacks is to build a strong third party risk management program. However, it’s not an easy process and there are many challenges to consider as you start building the program.
BitSight is transforming the way that the global marketplace addresses cyber risk with cybersecurity ratings and analytics. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and improve national security. With 2,300 global customers and the largest ecosystem of users and information, BitSight is the Standard in Security Ratings.
Shared Assessments is a global membership organization dedicated to developing the best practices, education and tools to drive third party risk assurance. We are creators of the industry standard third party risk toolkit, used by over 15,000 organizations worldwide.
CyberVadis provides enterprises with a cost-effective and scalable solution for third-party cybersecurity risk assessments. Our methodology maps to all major international compliance standards including NIST, ISO 27001, GDPR, and many other privacy and security laws. CyberVadis’ solution combines the speed of automation with the accuracy and effectiveness of a team of experts. We directly engage vendors from all over the world with assessments, validate results with an in-house team of security analysts, and issue companies a standardized cybersecurity rating that they can share with others, along with a detailed improvement plan for increasing their score and the ability to collaborate with clients on implementing better practices.