A Brief History of Vendor Risk Scoring

Vendor risk scoring is a practice that has emerged to address the complexity of vendor management by assigning vendors a single score– typically a number or letter grade– to facilitate comparison between vendors and portfolios. The past decades of digital transformation have provided both the need for innovative IT security hygiene assessment techniques and the technological capabilities to gather and analyze the data necessary to give those risk scores predictive power. Now the vendor solutions have reached a level of maturity that they are valuable for businesses of all sizes and sectors.

Read More

Five Things to Know About Third Party Risk

In managing cyber risk, it’s not enough to ensure that your business’s systems and enterprise web presence are secure. You must look beyond your perimeter properly vet the third and fourth-party vendors who will have access to your data without being subject to your governance. If an organization outsources technological functions to third parties, or uses them in its supply chain or data handling, the risk is compounded by these parties’ weaknesses. The 2013 Target data breach, which began at an air conditioning subcontractor, is a well known example, but the danger of third-party vendor risk has only increased. More third party breaches are being discovered than ever before.

Read More

BitSight vs SecurityScorecard

Information technology has changed the way people do business. For better, it has brought speed, scale, and functionality to all aspects of commerce and communication. For worse, it has brought the risks of data exposure, breach, and outage. The damage that can be done to a business through its technology is known as cyber risk, and with the increasing consequences of such incidents, managing cyber risk, especially among third parties, is fast becoming a critical aspect of any organization. The specialized nature of cyber risk requires the translation of technical details into business terms. Security ratings and cyber risk assessments serve this purpose, much like a credit score does for assessing the risk of a loan. But the methodologies employed by solutions in this space vary greatly, as do their results.

Read More

What is Cyber Resilience?

Cyber resilience is a fundamental change in understanding and accepting the true relationship between technology and risk. IT risk (or cyber risk, if you prefer) is actually business risk, and always has been. And the cybersecurity industry, for what it's worth, has generally avoided this concept because it goes against the narrative that their respective offerings—whether it's a firewall, IDS, monitoring tool, or otherwise—would be the one-size-fits-all silver bullet that can keep businesses safe. But reality tells a different story.

Read More