BitSight Technologies - Experts & Thought Leaders

SureCloud, the provider of cloud-based, integrated risk management solutions, has announced its collaboration with cyber security ratings company BitSight. The new partnership will provide organisations with a one stop shop for end-to-end vendor onboarding and simplifying the entire vendor risk management process. BitSight provides independently validated information to rate the security posture of suppliers. These cyber security ratings, according to Gartner, will become just as important as credit ratings when assessing the risk of business suppliers by 2022. Data privacy management solution The joint offering enables “hands-off” vendor onboarding when assessing potential third party vendors by preselecting risk assessment questions based on their BitSight ratings. SureCloud vendor assessments combined with BitSight security ratings information will be consolidated into one single interface, as will the capability to organise and categorise vendors and their potential, current and ongoing risk impact to business processes, regulations, policies and more. With BitSight’s cyber security ratings integrated into SureCloud’s integrated risk, compliance and data privacy management solution, the impact of vendors can also be realised in these other broader company programs as well. Additionally, organisations will benefit from SureCloud’s powerful, real time risk dashboarding and reporting tools as well as a central portal to track assessment responses and remediation activities with the vendor – giving management greater visibility and control. Continuous risk management evaluation Businesses can manage end-to-end vendor onboarding and risk management evaluation in one place" Kathleen Randall, EVP North America at SureCloud said: “Businesses can now manage end-to-end vendor onboarding, initial and continuous risk management evaluation and issues tracking in one place. This will save a significant amount of time when, quite often, they don’t have the resources to evaluate multiple vendors. Now, they can optimise the speed at which they can assure potential partners while understanding real-time how their vendor portfolio is affecting business risk exposure.” The partnership promises to help business users initiate third party requests and manage vendor profiles, contacts, and risk scores more effectively. Vendor security teams will also benefit, as they will no longer have to manage the tedious steps of running hundreds or even thousands of vendor security assessments, leaving them to focus on strategic vendors that require more hands-on scrutiny. IT vendor risk challenges “Every organisation is challenged to monitor and manage their third-parties’ risk regularly – and quickly address related threats and incidents when they arise from vendors,” said Vineet Seth, Vice President of Product at BitSight. “By using the best of BitSight’s rating data together with SureCloud’s market leading assessment capabilities customers are able to not only take advantage of hands-off vendor onboarding but also benefit from the operational efficiency and insights they need to address IT vendor risk challenges.”

BitSight, the Standard in Security Ratings, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2020. The World’s Most Innovative Companies list honours the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. This year’s list features 434 businesses from 39 countries. “BitSight is transforming how the global marketplace measures and manages cyber risk,” said Stephen Boyer, Co-Founder and Chief Technology Officer at BitSight. “Earning a spot-on Fast Company’s Most Innovative list is a testament to BitSight’s unique ability to help our customers understand and achieve measurable cyber risk reduction in these uncertain times.” Cyber risk management programs BitSight earned a place on the list for its ability to transform how companies manage security risk by reducing information asymmetry and increasing transparency about cyber security through Security Ratings. BitSight Security Ratings are real-time, data-driven measurements of organisational security performance that help investors, insurers, companies, government agencies and regulators make informed, dynamic risk decisions impacting financial decisions, business relationships, and national security. BitSight’s latest innovations ensure organisations understand the cyber risk exposure of their own organisation BitSight’s latest innovations ensure organisations understand the cyber risk exposure of their own organisation and their third-party ecosystem. BitSight’s unique, industry-first Security Performance Management solutions – Peer Analytics, Enterprise Analytics, and Attack Surface Analytics – help organisations continuously measure and monitor security program performance and efficacy, allocate limited resources to focus on the areas that will have the greatest impact on their cyber risk management programs, and facilitate data-driven conversations around security that help maintain the trust of the marketplace. Future of innovation Fast Company’s editors and writers sought out the most groundbreaking businesses on the planet and across myriad industries. They also judged nominations received through their application process. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy. “At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company Senior Editor Amy Farley, who oversaw the issue with Deputy Editor David Lidsky.

BitSight, the Standard in Security Ratings, announced BitSight Enterprise Analytics, the latest Security Performance Management solution available on the BitSight platform. BitSight Enterprise Analytics helps security and risk leaders quickly gain insight into the impact of risk introduced at the organisational group level – from subsidiaries to business units and departments – enabling them to identify the areas of highest risk concentration within their organisations. The solution provides visibility into which groups have the biggest impact on their organisations' overall cyber risk posture and helps identify areas for security performance improvement. Simplifies security programme monitoring The solution helps security and risk leaders simplify security programme monitoring, managementLarge enterprises often consist of dozens to upwards of hundreds of distinct organisational groups including departments, business units, subsidiaries, centres, offices and more – and in some cases, located in disparate geolocations. Each of these groups has a unique structure, function and points of digital exposure, and consequently, a unique cyber risk level. This has historically made it difficult for security and risk leaders to pinpoint where exactly the greatest cyber risk exists across the entire organisation. BitSight Enterprise Analytics takes the guesswork out of identifying risk concentration throughout and enhances security performance across distributed enterprise groups. The solution helps security and risk leaders simplify security programme monitoring, management and reporting by aligning risk management and communication with the existing business structure. Access meaningful and objective data With BitSight Enterprise Analytics, businesses can access real-time, meaningful and objective data and metrics on organisational group-specific security performance across several categories of vulnerabilities and cyber incidents. Armed with this visibility, security and risk leaders can: Quickly Discover Group-Based Performance Deficiencies: BitSight Enterprise Analytics helps organisations uncover the factors within each enterprise group that most significantly impact the organisation's overall security performance. More Effectively Allocate Security Resources: BitSight Enterprise Analytics allows an organisation to accurately distribute resources and prioritise initiatives that are in line with the company's risk appetite and policy thresholds for the greatest impact on security performance improvement. Create Focussed Improvement Plans: When used alongside BitSight's security performance projection and improvement model tool, BitSight ForecastingTM, BitSight Enterprise Analytics helps businesses create improvement plans by enterprise group for the greatest impact. Report More Impactfully to the Board: With BitSight Enterprise Analytics, security and risk leaders can measure and manage the security performance of their corporate structure and confidently report to senior executives and the board. Continuous monitoring of cybersecurity posture "Within the last month, regulators have issued billions of dollars in fines due to cyber insecurity; companies experiencing cyber incidents have lost billions in market capitalisation. This is the new risk reality that senior executives and board members find themselves in today," said Dave Fachetti, SVP Corporate Strategy & CMO of BitSight. "BitSight Enterprise Analytics provides confidence to executives through data. It helps our customers gain insight into risk concentration and changes in potential risk impact throughout their organisation over time to help them continuously monitor cybersecurity posture, measure security programme performance and allocate limited resources to focus on the areas that will have the greatest impact on their cyber risk management programmes."