BOSTON, Mass. – November 13, 2018 – BitSight, the Standard in Security Ratings, today announced that it has been named a Leader in The Forrester New Wave™: Cybersecurity Risk Rating Solutions, Q4 2018 evaluation. BitSight believes its inclusion and positioning in this report further affirms BitSight’s visionary and strategic approach as well as its dominant market presence in the emerging, globally significant security ratings market.
In Forrester’s assessment, BitSight received a differentiated rating (the highest rating possible) in seven criteria:
Cybersecurity has become a critical global issue. Historically, there has been little transparency in the marketplace around cyber risks, incidents, and effects, making it difficult for businesses, governments, insurers, and investors to understand and value the cyber risk presented by a third party vendor/supplier, insured, or investment. BitSight’s Security Ratings platform delivers the foundational data and analytics necessary for business leaders, investors, and policymakers to begin addressing the global cyber risk management challenge.
Report authors Trevor Lyness and Nick Hayes state, “BitSight leads the pack with a reliable rating methodology and flexible platform. BitSight’s name is well-known and respected in this budding market, and it offers one of the strongest platforms in terms of scale, reach, and partner network. BitSight places a premium on the accuracy of its ratings, incorporating strong data model governance practices and third-party validation of its scoring methodology.” The report continues, “[BitSight] is the best fit for companies that want an established, well-developed solution. [Security and Risk] pros will find value in sharing a common view with many of their industry peers and partners who also use BitSight as well as detailed and flexible dashboards.” A customer reference in the report states, “industry-wide acceptance and an intuitive UI made BitSight an easy choice for us” and “its action-plan tracking helps us stay on top of our vendors to make sure they follow through.”
“Cybersecurity ratings will be part of every future business to business transaction,” said Tom Turner, CEO of BitSight. “As the pioneer and visionary of the Security Ratings industry, BitSight is building a platform that is integral to security and risk professionals, as well as to every global business, investor, and policymaker. We are pleased to be recognized by Forrester as a leader in this evaluation. We believe this recognition, combined with our track record of vision and execution ensures that our customers are able to successfully address the global cyber risk management challenge.”
A complimentary copy of The Forrester New Wave™: Cybersecurity Risk Ratings, Q4 2018 evaluation is available for download here. For additional information regarding BitSight’s strategic offering in Security Ratings, visit https://www.bitsighttech.com/security-ratings.
BitSight is transforming how companies manage information security risk with trusted, time-tested and actionable security ratings. Founded in 2011, the company built its Security Ratings Platform to continuously analyze vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Seven of the top 10 cyber insurers, 20% of Fortune 500 companies, and 3 of the top 5 investment banks rely on BitSight to manage cyber risks. For more information, please visit www.bitsight.com, read our blog or follow @BitSight on Twitter.