As organizations battle sustained attacks from a constantly changing landscape of cybersecurity threats, breaches have become the new “business normal.” The catastrophic impact of breaches has caused regulators around the world to create new and more strict information security requirements, guidelines, and frameworks to better protect organizations and the customer and employee data they possess. To ensure compliance in this increasingly complex regulatory environment, you need solutions that deliver greater visibility into your organization’s security performance and the risk present in your digital ecosystem and third-party network.
BitSight can help. BitSight Security Ratings provide a comprehensive view of your organization’s security posture as well as in-depth analysis of your security performance across multiple risk vectors, including areas mandatory to monitor in compliance with security standards. With BitSight, you can more easily comply with evolving information security requirements and better protect your organization from a broad range of cyber risk.
As security breaches continue to plague businesses in every vertical, there is a growing list of organizations that have sustained record fines for failing to comply with information security requirements or legislation.
Cyber security regulations today tend to center on two key themes: establishing senior-level accountability for dealing with security and risk strategically, and ensuring that companies have effective information security controls in place to monitor security performance of their organizations and their third-party vendors.
The intention of new legislation is to highlight the need for executives and boards to ensure their organizations have adopted measures that safeguard the personal data of customers from misuse or unauthorized access to the best of their ability. These new cybersecurity standards also recognize the risk present in supply chains and emphasize the importance of effective third-party risk management processes that require vendor networks to adhere to the same standards as your own internal cybersecurity program.
In this ever-changing universe of regulation, organizations that focus solely on compliance will always be several steps behind the curve. To manage compliance and risk mandates effectively, organizations must develop cybersecurity policy that’s focused on continuously monitoring, measuring, and mitigating risk instead of waiting for risks to present themselves.
That’s where BitSight excels.
BitSight Security Ratings help organizations navigate complex information security requirements by providing continuous visibility into their own security performance and the security posture of their third-party vendors.
BitSight’s industry-leading Security Ratings provide an objective measurement of security performance based on external and verifiable information about compromised systems, user behavior, security diligence, and data breaches. Issued daily, BitSight ratings help you flag risk in your own digital ecosystem and expose risk within your supply chain. Armed with BitSight Security Ratings, you can more easily identify risk, focus resources on remediation, and facilitate data-driven conversations with senior leadership and your board.
BitSight Security Ratings provide both an overall quantitative measure of security posture as well as significant detail on performance across 23 risk vectors. Ratings range from 250 to 900. The higher the rating, the more effective the rated company is at implementing good security practices.
BitSight ratings have been independently verified to correlate to data breaches, providing greater insight into vulnerabilities within your own IT environment and that of your third parties. For example, companies with a BitSight Security Rating of 500 or lower are nearly 5 times more likely to experience a breach than companies with a rating of 700 or higher.
BitSight offers solutions built on its security rating platform that simplify the task of complying with information security requirements, including:
BitSight has pioneered the security ratings market since its founding in 2011. Today, BitSight is trusted by some of the world’s largest organizations to give them a clearer picture of their security posture. BitSight is trusted by 20% of the world’s countries, 25% of Fortune 500 companies, 7 of the top 10 cyber insurers, and 4 of the top 5 investment banks.
BitSight’s industry-leading proprietary data set delivers Security Ratings that are objective, verifiable, and actionable. Based on 120+ sources – including both owned and licensed data – BitSight Security Ratings give customers unprecedented visibility into 23 key risk vectors, many of which are unique to BitSight.
The value of the BitSight security ratings platform increases as each participant engages in more of the platform’s intended uses. BitSight has the most robust community of cyber risk professionals interacting on its platform, providing the necessary context for customers to gain confidence in their interaction with third-party vendors.
Information security requirements are a collection of legislation, guidelines, frameworks, and industry-specific regulations to which organizations are either required or recommended to comply with in order to improve cybersecurity, mitigate risk, and avoid legal consequences. Information security requirements may differ depending on the industry or geographic region of the organization.
Security ratings are a data-driven measurement of the security performance of an organization or its third-party vendors. Like credit ratings, security ratings are based solely on externally available data – no internal information from the rated entity is required to be calculated. Security ratings help organizations reduce risk by understanding and improving their own security performance, and verifying the security posture of vendors in their third-party ecosystem.