BitSight Adds Analytics to Empower Vendor Risk Decision Making
Noah Simon | November 23, 2016
BitSight customers can now gain greater insight into the cybersecurity risk of their vendor ecosystem and measure the efficacy of their third party cyber risk programs. BitSight’s new Portfolio Quality Dashboard generates interactive reports, allowing organizations to see a breakdown of how their third parties perform. This security performance compared side by side to all companies that have a BitSight security rating.
This dashboard is rooted in data science and research. Previous studies show that companies with a BitSight Security Rating of 500 or lower are almost five times more likely to experience a publicly disclosed breach than companies with a 700 or more. With this view, organizations can get a sense of their immediate third party cyber risk and prioritize actions accordingly. Users can take a deeper dive, and compare how their portfolio companies in certain industries compared to the whole industry and identify which companies fall into which rating category.