March 17, 2020
Collaboration offers ‘hands off vendor on-boarding' and operationally efficient vendor risk management
SureCloud, the provider of cloud-based, integrated risk management solutions, has announced its collaboration with cybersecurity ratings company BitSight. The new partnership will provide organizations with a one stop shop for end-to-end vendor onboarding and simplifying the entire vendor risk management process.
BitSight provides independently validated information to rate the security posture of suppliers. These cybersecurity ratings, according to Gartner, will become just as important as credit ratings when assessing the risk of business suppliers by 2022.
The joint offering enables “hands-off” vendor onboarding when assessing potential third party vendors by pre-selecting risk assessment questions based on their BitSight ratings.
SureCloud vendor assessments combined with BitSight security ratings information will be consolidated into one single interface, as will the capability to organize and categorize vendors and their potential, current and ongoing risk impact to business processes, regulations, policies and more. With BitSight’s cybersecurity ratings integrated into SureCloud’s integrated risk, compliance and data privacy management solution, the impact of vendors can also be realized in these other broader company programs as well.
Additionally, organizations will benefit from SureCloud’s powerful, real-time risk dashboarding and reporting tools as well as a central portal to track assessment responses and remediation activities with the vendor – giving management greater visibility and control.
Kathleen Randall, EVP North America at SureCloud said: “Businesses can now manage end-to-end vendor onboarding, initial and continuous risk management evaluation and issues tracking in one place. This will save a significant amount of time when, quite often, they don’t have the resources to evaluate multiple vendors. Now, they can optimize the speed at which they can assure potential partners while understanding real-time how their vendor portfolio is affecting business risk exposure.”
The partnership promises to help business users initiate third party requests and manage vendor profiles, contacts, and risk scores more effectively. Vendor security teams will also benefit, as they will no longer have to manage the tedious steps of running hundreds or even thousands of vendor security assessments, leaving them to focus on strategic vendors that require more hands-on scrutiny.
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.
SureCloud is a provider of cloud-based, Integrated Risk Management (IRM) products, Cybersecurity and Risk Advisory services, which reinvent the way you manage risk. SureCloud connects the dots with IRM solutions enabling you to make better decisions and achieve your desired business outcomes. SureCloud is underpinned by a highly configurable technology platform, which is simple, intuitive and flexible. Unlike other GRC Platform providers, SureCloud is adaptable enough to fit your current business processes without forcing you to make concessions during implementation; meaning you get immediate and sustained value from the outset.