Choosing a security ratings service provider is one of the most important decisions you’ll make around cybersecurity. You’ll rely on your provider for critical visibility into your security performance as well as risk in your supply chain, so there’s a lot riding on the accuracy of your ratings. This means you’ll want to ask some pretty tough cybersecurity questions of your potential security ratings partners.
BitSight is up for the challenge. Our company was founded in 2011 to transform how organizations evaluate risk and security performance. Using the same outside-in model developed by the credit ratings industry, BitSight enables security leaders to get answers to a wide range of cybersecurity questions as they seek to measure security performance and evaluate third-party risk.
When choosing a security ratings partner, there are several critical cybersecurity questions to ask of your potential security ratings partner. Here are the four most important questions – and how BitSight answers them.
Data breach response plans are highly customized to the needs of each organization, but there are several tasks that must be included in this kind of cyber security plan for every business.
BitSight delivers security ratings that measure security performance of some of the world’s largest organizations and governments, and their third-party ecosystem. BitSight’s leading security reporting service delivers actionable security ratings, cyber risk metrics, and security benchmarks through continuous monitoring of large collections of objective and independently verified data.
BitSight was recently named a Leader in The Forrester New Wave™: Cybersecurity Risk Rating Solutions, Q1 2021. As the creator and largest vendor by market presence in the category, we were honored to be recognized and to be the only vendor recognized for having a differentiated product roadmap and go-to market strategy.
BitSight’s offerings include:
Since 2011, BitSight has pioneered the security ratings market by providing objective metrics and cyber security assessment tools that help to measure and mitigate cyber risk across the business ecosystem. The BitSight platform has 2,100 customers monitoring 540,000 organizations to collectively reduce cyber risk. More than 40 government agencies rely on BitSight, including US and global financial regulators, and 20% of the world’s countries trust BitSight to protect national security. BitSight also counts among its clients 4 of the top 5 investment banks, all four of the Big 4 accounting firms, 25% of Fortune 500 companies, and 7 of the top 10 largest cyber insurers.
When choosing a security ratings provider, the most important cybersecurity questions start with what data is included, how accurate the ratings are, and whether the ratings are independently verified to accurately reflect risk. Organizations should also want to know how transparent the rating algorithm is and how disputes are managed.
Security ratings are an objective, data-driven measurement of the security performance of an organization and/or its third-party vendors. As a cyber security vulnerability assessment tool, ratings offer continuous measure of security performance, a critical advantage over point-in-time solutions like security compliance questionnaires. Security ratings enable security leaders and risk managers to craft more effective cyber security plans with answers to vital cybersecurity questions about the presence of risk, the effectiveness of controls, and the priorities for resources and investments that will yield the biggest impact.