Vendors selected for the “Cool Vendor” report are impactful, innovative, and intriguing.
BitSight Technologies, the standard in Security Ratings, today announced it has been included in Gartner’s list of “Cool Vendors” in Vendor Management for 2015. The report identifies technology vendors that have a strong market vision and offer unique and innovative products and services that have a real market impact.
“With increased regulatory scrutiny on vendor risk management, heavily publicized outages and instances of data loss and data breach, vendor risk and performance management activities have heightened in importance for many enterprises,” said Gayla Sullivan, research vice president for Gartner. “Effective vendor risk and performance management heavily relies on capturing data and information to enable more effective decision-making for vendor managers and their stakeholders.”1
“BitSight has gained significant traction in the security ratings market and is fast becoming a standard like Moody’s or S&P,” said Shaun McConnon, CEO of BitSight. “We believe that being named a Gartner ‘Cool Vendor’ further validates not only the market need, but also the impactful solution that we have created. We will continue to strengthen and expand our offerings to help customers identify, quantify and mitigate security risk with objective, evidence-based measures of security performance.”
The BitSight platform uses publicly available data to rate the security performance of an organization on a daily basis. Observed security events and configurations, such as communication with a botnet, malware distribution, and email server configuration, are assessed for severity, frequency and duration and used to generate objective Security Ratings. BitSight Security Ratings range from 250 to 900, with higher ratings equating to higher security performance.
BitSight data provides insight that is leveraged in the following initiatives and more:
- Vendor Risk Management: Risk managers and the CRO at a leading Fortune 100 financial institution have adopted BitSight Security Ratings to incorporate into their assessment practices for continuously monitoring the security effectiveness of more than one thousand vendors
- Benchmarking: A Fortune 500 global healthcare and research company has embedded BitSight Security Ratings into their security controls to assess effectiveness of security initiatives and communicate performance goals with their BOD and key stakeholders
- Portfolio Management/ Mergers & Acquisitions: Three of the top five Private Equity firms in the world endorse BitSight Security Ratings for portfolio management
- Cyber Insurance: Underwriters across 57 countries at Fortune 100 global insurance firm leverage BitSight’s Cyber Insurance solution to assess cyber risk for applicants and insureds
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About BitSight Technologies
BitSight Technologies is transforming how companies manage information security risk with objective, evidence-based security ratings. The company's Security Rating Platform continuously analyzes vast amounts of external data on security behaviors in order to help organizations manage third party risk, benchmark performance, and assess and negotiate cyber insurance premiums. Based in Cambridge, MA, BitSight is backed by the National Science Foundation, Commonwealth Capital Ventures, Flybridge Capital Partners, Globespan Capital Partners, and Menlo Ventures. For more information, please visit www.bitsight.com or follow @BitSight on Twitter.
1Gartner “Cool Vendors in Vendor Management, 2015” by Gayla Sullivan, Christopher Ambrose, Joanne Spencer, David Edward Ackerman, April 22, 2015.