Third Party Cyber Risk Management (TPCRM)
Overview
About 60% of cyber security breaches are linked to third parties.
An efficient and effective TPCRM program helps address these risks! Today’s TPCRM programs are often expensive, assessments take too long and they are often outdated. In addition they are blocking staff to focus on internal impact and risk scenarios while doing assessments of partners. They are geared toward compliance rather than being risk-based approaches. This compliance slant prevents organizations from truly working to identify and mitigate real issues based on actual threats and countermeasures.
Solution Domains
Assessment Automation
Our Approach
Our recognition of the fact that every TPCRM program is unique has led us to offer a range of solutions, each with a distinct emphasis, to allow our clients to pick what suits their requirements the most. Our solutions encompass:
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Assessment Exchange
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Custom assessments
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Managed service for custom assessments
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Outside-In data
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Predictive risk scoring for an easy risk-based prioritization
Drawing upon our extensive experience in crafting and implementing GRC processes, we assist our clients in choosing and integrating these solutions into their TPCRM programs.
Solutions
Third-Party Cyber Risk Exchange
We support in every step of your TPCRM program:
Identify & Assess
- Access thousands of attested assessments on our global risk Exchange– without waiting for your vendor to complete a questionnaire.
- Leverage our Predictive Risk Profiles to anticipate how a new third party will respond to assessment questions, with an accuracy rate up to 91%.
- No more tedious, manual processes to understand inherent risk. Using the industry’s first Automated Inherent Risk (AIR™) technology, you can instantly identify the third parties who are most likely to incur a cyber incident.
Analyse & Report
- Identify security gaps across your entire portfolio and pinpoint specific problem areas based on your relationship with a third party, including where control coverages are deficient.
- View threat profiles based on the tactics and techniques used in over 49 cyberattacks, and how controls were exploited in each– the cyber risk intelligence you need to detect, prevent, and respond to third-party vulnerabilities.
Monitor & Secure
- Portfolio-wide monitoring provides automatic alerts when a third party has experienced a breach, a lapse in security controls, or when dark web activity is detected, so you can respond faster and reduce your exposure on a continuous basis.
Assessment Automation and Managed Service
We resolve everyday TPCRM pain-points and support your processes; from initial risk identification through to reporting and remediation.
Automated
We provide time-saving automation to speed up questionnaire submissions and flag key risks
Secure
We have created a secure platform on which all data is held, away from insecure hard drives
Cohesive
We offer a single reference point on the platform, shared by all parties
Cost Efficient
This solution is a cost effective and scalable service, reducing the need for large volumes of internal analyst time spent on the process, minimising the need to expand the existing team
Dynamic
The service offers customisation of dynamic questionnaires that can be adapted in line with developing regulation. We also provide Open Source Intelligence Monitoring of third parties, on an ongoing basis
Transparent
We provide clear, in-depth views of the entire third party landscape, as well as the threat posed by individual entities
Efficient
As well as process automation, we also offers expert analyst input; an opportunity to acquire support on completing assessments, producing analysis and facilitating remediation. Our service can reduce the time spent by up to 50%
External Attack Surface Management
Our Approach
Managing risks becomes especially challenging in situations where multiple organizations must coordinate their efforts. Therefore, our recommendation is to prioritize the mitigation of significant risks when it comes to incident prevention.
To deal with the remaining risks, organizations can adopt a detective and responsive approach. By continuously monitoring both the public internet and the dark web and being the first to detect potential threats, organizations can swiftly respond to incidents at an early stage, often preventing significant consequences.
Solutions
Data Breach Prevention
In today’s highly digitized world, your data is your business. Yet no matter how well organizations guard against data breaches, it is an ongoing risk and a continuous battle. Prevention is the goal but businesses need to be prepared for the “when” not “if,” because breaches will inevitably happen—sometimes from sources beyond your control. You need to be ready to stem data leaks as soon as they are detected.
Our data breach prevention solution alerts you to sensitive and confidential information that has been found outside your security perimeter and helps you secure it in three easy steps:
- Data Leak Identified: We scan 4.3 billion IP addresses every 24 hours to look for leaked documents so you are notified as soon as exposures surface.
- Analyst Verifies: Findings are verified by a dedicated analyst. The alerts sent to you are prioritized by severity, with all the necessary context for immediate action.
- Takedown Initiated: Your incident response team can take steps to remediate the issue or enlist the professional services team to help.
Examples of data leak sources we monitor:
- Connected storage devices
- Cloud storage
- Cloud applications
- Databases
