New Solution Provides Visibility into Security Performance Across Business Units, Subsidiaries and other Organizational Groups, Enabling More Effective Risk Management
BOSTON — August 13, 2019 — Bitsight, the Standard in Security Ratings®, today 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 organizational group level – from subsidiaries to business units and departments – enabling them to identify the areas of highest risk concentration within their organizations. The solution provides visibility into which groups have the biggest impact on their organizations’ overall cyber risk posture and helps identify areas for security performance improvement.
Large enterprises often consist of dozens to upwards of hundreds of distinct organizational groups including departments, business units, subsidiaries, centers, 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 organization.
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 program monitoring, management and reporting by aligning risk management and communication with the existing business structure.
With Bitsight Enterprise Analytics, businesses can access real-time, meaningful and objective data and metrics on organizational 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 organizations uncover the factors within each enterprise group that most significantly impact the organization’s overall security performance.
- More Effectively Allocate Security Resources: Bitsight Enterprise Analytics allows an organization to accurately distribute resources and prioritize initiatives that are in line with the company's risk appetite and policy thresholds for the greatest impact on security performance improvement.
- Create Focused 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.
“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 capitalization. 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 organization over time to help them continuously monitor cybersecurity posture, measure security program performance and allocate limited resources to focus on the areas that will have the greatest impact on their cyber risk management programs.”
To learn more about Bitsight Enterprise Analytics, visit: https://bitsig.ht/2TkAfvM.
Founded in 2011, Bitsight transforms how organizations manage cyber risk. The Bitsight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct M&A due diligence and assess aggregate risk. With over 1,800 global customers and the largest ecosystem of users and information, Bitsight is the most widely used Security Ratings Service. For more information, please visit www.bitsight.com, read our blog or follow @Bitsight on Twitter.