With third-party data breaches at an all-time high, organizations everywhere are looking for cyber risk monitoring tools to better manage third-party cyber risk. Traditionally, organizations have used annual or biannual questionnaires to evaluate the cyber security posture of their vendors. This process is not only highly time-consuming, biased, and unverifiable, it also provides only a point-in-time snapshot of a third party’s security posture at a given moment rather than continuously monitoring the security performance of vendors.
As the leading Security Ratings Service, BitSight offers cyber risk monitoring solutions that are trusted by some of the world’s largest organizations to manage third-party cyber risk assessment every day of the year.
The most effective cyber risk monitoring tools provide continuous assessment of cyber security KPIs that answer four critical questions.
By gathering data on compromised systems – including factors like botnet infections, potentially exploited machines, and malware servers – cyber risk monitoring solutions can determine how secure an organization is by showing what’s actually going on within an organization’s IT systems.
Diligence data, or hygiene data, monitors data points like open ports, patching cadence, and TLS/SSL certificates and compares these points to best practices to determine whether organizations are diligent about cyber risk mitigation.
Cyber risk monitoring can also take into account publicly disclosed breaches gathered from new sources, credit card investigations, internal breach disclosures, breach aggregators, and chatter on the dark web.
Evidence of peer-to-peer filesharing activity, leaked passwords and usernames, and other user related risk factors can contribute to increased risk of a data breach.
Founded in 2011, BitSight pioneered the security ratings market by transforming how organizations evaluate risk and security performance. Employing the same outside-in model used by credit ratings agencies, BitSight provides data-driven dynamic measurements of an organization’s cybersecurity performance based on an analysis of externally verifiable data.
BitSight cyber risk monitoring tools provide continuous measure of security performance of organizations and their vendors based on evidence of compromised systems, user behavior, data breaches, and diligence. BitSight Security Ratings are updated daily and are accessible to users through the BitSight platform and via an API. Along with data from cyber risk monitoring, BitSight provides industry and peer comparisons for benchmarking security performance against other organizations and competitors.
BitSight cyber risk monitoring solutions provide a wealth of information for monitoring internal security performance and managing third-party risk.
With BitSight, you can easily scale continuous security monitoring of third and fourth parties, improving your own security posture while accelerating vendor onboarding.
BitSight security ratings enable decision-makers to improve the speed and effectiveness of risk decisions.
BitSight facilitates collaboration with third parties and your company’s stakeholders with data-driven security and risk communications.
BitSight is committed to creating trustworthy, data-driven, and dynamic measurements of organizational cybersecurity performance that is based on objective, verifiable information.
Based on industry-leading proprietary data sets and trusted, reputable data partnerships, BitSight provides Security Ratings that are objective, verifiable and actionable.
BitSight considers only the most critical, high-quality risk vectors when producing Security Ratings. Importance is calculated in a more diversified way to ensure that the most critical assets are ranked higher. BitSight gives customers an easy, visual way to prioritize risk vectors and address the largest areas of risk.
The BitSight Security Ratings platform is home to the most robust interactions between a large community of cyber risk professionals. More than 2,100 BitSight customers share ratings with more than 540,000 organizations, making BitSight the most widely used security ratings platform across all industries.
Cyber risk monitoring is the practice of continually assessing the cybersecurity risk posture of an organization and its third-party relationships.
Where traditional cyber security assessments are conducted annually or semiannually, cyber risk monitoring provides risk metrics that are updated daily. With this information, organizations can better manage their own cybersecurity performance as well as their relationships with vendors.