20% of third parties are high risk– do you know which ones?
The average organization has over 6,000 third parties and it’s impractical to assess every one. So how do you know which third parties pose the greatest risk? If you’re unsure, you’re not alone. 50% of organizations rate themselves as ineffective in their vendor due diligence.
Adding complexity to the evaluation process, the security posture of your vendors is constantly changing– they may have implemented new security measures, been exposed to a breach, or experienced a regulatory violation. Traditional risk assessments measure only a historic snapshot in time, not taking into account the recent positive— and negative— changes that potentially impact your business continuity, reputation, and profitability.
Only with a 360-degree view, real-world attack scenarios, and real-time threat intelligence, can you effectively identify, monitor, and mitigate your third-party risks, enabling you to confidently protect your organization.
Safeguard your organization with confidence.
Leverage automation, view threat profiles, and map assessment data to industry frameworks to get a comprehensive view of your third-party risks, so that you can develop appropriate mitigation strategies.
Quickly understand your inherent risks.
Replace manual review processes with Automated Inherent Risk (AIR)
insights to instantly see the likelihood of a third party having a cyber
incident and the potential impact on your organization.
Continuously monitor your third parties for a real-time view of your vulnerabilities.
Our partner, Risk Recon, continuously monitors the cybersecurity risk
of four million companies, including highly regulated industries like
financial services and healthcare. The CyberGRX / Risk Recon
integration provides you with a real-time view into your third party’s
security posture, so that you can proactively respond to emerging risks.
Mitigate the impact of a vendor breach or supply chain disruption.
A compromised third party needn’t cripple your business operations.
Use threat profiles to identify the primary controls needed to detect,
prevent, and mitigate threats.
CyberGRX has helped identify and flush out the prospective security risks while engaging third parties for their software and applications.IT Manager FORTUNE 500 CONSUMER PRODUCTS COMPANY
Proven success in improving third-party risk evaluation.
See how other organizations are leveraging CyberGRX to add speed, efficiency, and cyber risk intelligence to their third-party evaluation process, without adding headcount.
Verizon Communications Inc.
“The reason why I like CyberGRX is because it removes spreadsheets and manual information security reviews.”
Verizon struggled with a process too focused on assessment collection and too little data analysis. As a result, they lacked visibility into current cyber threats involving third parties. Since using the Exchange model and Predictive Risk Profiles that CyberGRX provides, they now have visibility into data more than 50% of third parties under management, plus dynamic and immediate data unattainable with assessments alone.
University of Southern California
“CyberGRX has moved our program from a volume-driven assessment program to a risk-based third-party program. We now have risk insight into 25% of our vendor population through the platform; this was a major improvement from the 5% we had before.”
The University of Southern California sought to gain visibility into their third party cyber threats and align third-party control gaps to common and recent cyberattacks. After working with CyberGRX, they rate Auto Inherent Risk ratings, Predictive Risk Profiles, Framework Mapper, Threat Profiles, and Third-Party Threat Intelligence Scores & Data all as “best in class.” Additionally, they realized their return on investment immediately.
Enterprise Financial Services Company
“CyberGRX Predictive Risk Profiles provide us with dynamic and immediate data on our third parties that we previously did not
have with assessments alone.”
A financial services company struggled with chasing assessments, leaving little time to analyze the data and understand their risks. They are now successfully leveraging CyberGRX’s Predictive Risk Profiles, Framework Mapper, and Auto-Inherent Risk Ratings to assess third-party security controls, even when assessment data is absent. As a result, they have greater visibility into their vendors under management and report they have, “improved our third-party cyber risk management program through the ability to continuously monitor and analyze our third-party risk data beyond assessments and workflows.”
3 steps to
- Upload your list of third
parties into our Exchange.
- Discover your blindspots.
- Manage your third-party
cyber risk confidently.