Many firms are turning to third-party distributors to obtain services in right now’s enterprise panorama. Nevertheless, third events additionally introduce threat to your group’s cybersecurity posture, which is the place third-party threat administration (TPRM) platforms may also help.
Third-party threat administration (TPRM) platforms are cloud-based options that assist organizations handle the dangers related to distributors. Many firms, from healthcare to monetary providers and past, make the most of TPRM platforms to handle third-party info safety.
Many alternative TPRM platforms exist, relying in your group’s particular wants and enterprise objectives. The record beneath explores Whistic’s particular threat administration options platform and descriptions numerous options that could be higher, relying on what you employ.
Study extra about UpGuard’s TPRM software program, Vendor Threat >
Whistic Choices and OptionsSupply: whistic.com
Whistic is a TPRM platform centered on vendor safety assessments and third-party threat administration. Based in 2015 and at the moment situated in Nice Grove, Utah, Whistic goals to assist firms maintain one another accountable for safeguarding their shared knowledge by way of a provider threat administration platform.
Whistic’s TPRM platform contains the Whistic Belief Catalog, which helps velocity up the chance evaluation by providing vendor safety info to potential companions. Their platform has a number of instruments that mean you can onboard, consider, and monitor distributors by evaluating them towards predefined standards primarily based on their questionnaires, documentation, and metadata.
With Whistic’s workflows, clients can conduct safety opinions and reply to safety opinions in a single place. Distributors also can use Whistic’s platform to evaluate themselves towards one of many prime vendor questionnaires and add supporting documentation, similar to audits and certifications, to their profile. These profiles may be shared with their present and potential enterprise companions to expedite the chance evaluation.
Whistic’s main choices embody:
Steady monitoring through RiskRecon of over 60,000 firms’ safety postureControlled Entry that lets you share what you wish to share, together with approval workflows, audit trails, and NDA safeguardsReporting and insights that measure buyer engagement and safety postureIssue Administration Suite to trace, catalog, remediate, and report on points all through the evaluation processIntegrated synthetic intelligence (AI) to find essential info quick, generate insights, and additional automate workflowsCentralized safety and compliance info to extend effectivity in third-party threat evaluation workflowsSynchronized threat administration knowledge through API integrations (Jira, Slack, Salesforce, RiskRecon, and many others.)AI-powered sensible search information base to shortly search your group’s safety and compliance documentsWhistic Assurance Middle, a one-stop abstract of your group’s safety, privateness, and compliance controls40+ questionnaires and frameworksTop 8 Whistic Options
Beneath are particulars in regards to the prime Whistic opponents in an effort to establish the very best different in your group’s particular wants.
1. UpGuard
UpGuard is a third-party threat and assault floor administration platform that helps world organizations stop knowledge breaches, monitor third-party distributors, and enhance their safety posture. Vendor Threat is their all-in-one third-party threat administration platform that automates threat evaluation workflows and offers on the spot notifications about distributors’ safety.
Vendor Threat operates in a single centralized dashboard, the place customers can handle each facet of their vendor lifecycle by way of automated and on the spot workflows. From sending and receiving vendor questionnaires to tiering distributors primarily based on criticality, UpGuard offers customers an easy-to-understand platform with seamless options. Every day scans and on the spot rescans present an in-depth look into all of your distributors’ safety posture, with the power to shortly generate studies to know which vulnerabilities are impacting a vendor’s safety posture.
Total, UpGuard Vendor Threat is a complete resolution for TPRM with a aggressive beginning value and the power to scale for enterprise clients.
ProsAutomated safety questionnaires and on-demand vendor safety ratingsAutomated threat evaluation that gathers proof, assesses dangers, and requests mediation in a single single workflowHigh functionality load: over 2,000,000 organizations scanned dailyContinuous monitoring of vendor threat that impacts a vendor’s safety postureUpGuard’s Experiences Library with tailored studies for various stakeholdersExpert evaluation and administration of TPRM programsUtilizes DevOps ideas to develop, check, and launch software program updates continuouslyTransparent pricing mannequin, which you’ll view hereIntegration with over 4,000 third-party appsTrack alignment with ISO 27001, NIST CSF, and many others., with built-in compliance reportingConsCreating questionnaires from scratch may be difficult, however UpGuard additionally offers customary questionnaires and templates to make use of and customize2. Bitsight
Supply: bitsight.com
Bitsight is a Boston-based Safety Score Service that assesses third-party cyber threat. It helps organizations handle their cybersecurity and threat all through the seller lifecycle. By constantly monitoring and assessing elements similar to assault floor, cyber threat, and cloud safety, Bitsight offers organizations with the knowledge they should make quick and strategic choices about their cybersecurity insurance policies and third-party cyber threat administration.
ProsObjective safety rankings permit for straightforward comparisonContinuous safety posture monitoringEasy scalability for organizations with numerous third-party vendorsCollaboration instruments to work straight with vendorsConsNo public product launch cyclesOnly 170,000 supported organizations3. Black Kite
Supply: blackkite.com
Black Kite is a Boston-based firm that gives a platform that charges cyber dangers through the use of open-source menace intelligence and non-invasive cyber reconnaissance strategies. It offers massive quantities of details about your Vendor Threat Administration by gathering a variety of knowledge with out straight accessing the goal buyer. Utilizing knowledge science and machine studying, it provides extra frequent and correct real-time vendor assessments.
Pros360° view of cyber threat from a technical, monetary, and compliance perspectiveFully clear, standards-based cyber rankings platformVisibility into over 34 million firms, with 20+ threat classes and 290 controlsConsPublic pricing info shouldn’t be availableDifficult person workflow, first-time customers could have a steep studying curve4. Diligent
Supply: https://www.diligent.com/en-gb/third-party-risk-management/
Diligent is a New York-based software program firm creating digital options to attach insights throughout governance, threat, compliance, and extra. They specialise in serving to organizations meet their environmental, social, and governance (ESG) commitments. Diligent’s TPRM platform protects your organization and repute with a reputable, defensible, third-party program, informing your group of potential Anti-Bribery and Anti-Corruption dangers.
ProsAI-driven monitoring techniques for brand new vendorsTailored assessments and workflows to particular varieties of third-party engagementIntegrated third-party coaching module and program monitoring through SCORM/eLearning formatIncluded enterprise intelligence that gives actionable insights, visibility will increase, and course of enhancements for compliance teamsConsCustomization limitationsSmaller providing of integrations5. Prevalent
Supply: prevalent.internet
Prevalent is a Phoenix-based firm designed to disclose and scale back vendor threat with its 360-degree third-party threat administration platform. The Prevalent TPRM platform is a SaaS resolution that mixes automated threat evaluation, steady threat monitoring, evaluation workflow, and remediation administration all through the third-party lifecycle from procurement to offboarding.
ProsRFx Necessities centralizes the distribution, comparability, and administration of RFPs and RFIsSingle supply of provider threat profiles, consumption processes, and onboarding/offboarding workflowsComprehensive vendor threat profiles with inherent threat scoresMeasures program effectiveness and analyzes SLAs to find out compliance, contract phrases, and strengthen negotiationsConsNo public pricing informationOnly offers a threat score between 0 and 100 (no letter grades)6. SecurityScorecard
Supply: securityscorecard.com
SecurityScorecard is a New York-based safety rankings platform that makes use of visitors and different publicly accessible knowledge to construct safety rankings that consider distributors and handle cyber threat. In addition they monitor “hacker chatter” and different public knowledge feeds for indicators of compromise.
ProsSecurity rankings present a single rating to match third-party distributors and repair providersUtilizes energetic and passive knowledge assortment strategies which might be publicly availableOffers API connection performance for customers searching for better safety score extensibilityUser Academy for buyer customers, together with a recurrently up to date firm weblog, webinar sequence, and useful resource centerConsAccording to third-party suggestions, could present many false positivesRemediation instances could also be prolonged, leading to longer instances for scores to improve7. RiskRecon
Supply: riskrecon.com
RiskRecon relies in Salt Lake Metropolis, UT, and has a presence in Boston, MA. The corporate has representatives from all around the globe. RiskRecon provides customers a complete understanding of the info safety threat efficiency. That is achieved by constantly monitoring 11 safety domains and 41 safety standards. The platform is useful for third-party threat administration, enterprise threat administration, and mergers & acquisitions.
ProsData-driven insights and RiskRecom efficiency rankings to prioritize vendor threat assessmentsObjectively verifies vendor cybersecurity threat performanceUnique asset valuation mannequin and customizable threat policies99.1% Knowledge AccuracyConsMay not publicly share common launch charges, roadmaps, or documentation for resolution updates.Cloud-based platform provides minimal want for set up, however workflow requires time to master8. ProcessUnity
Supply: processunity.com
ProcessUnity relies in Harmony, MA, and offers Vendor Threat Administration Software program designed to guard firms and their repute by lowering threat posed by distributors. Earlier this yr, they introduced a merger with CyberGRX, one other TPRM platform, and now provide each the TPRM workflow platform alongside a world cyber threat trade. Their instruments for Vendor Threat Administration help shoppers in evaluating and monitoring each new and present distributors, from preliminary onboarding to ongoing due diligence and monitoring. ProcessUnity additionally offers visibility into new and current dangers, streamlines due diligence processes, and ensures compliance with regulatory necessities.
ProsReplaces surveys and spreadsheets with clever questionnairesUtilizes automation to find out the scope of assessments primarily based on inherent threat scores and criticality tiersBuilt-in content material library and assist for importing customized methodologiesOffers integrations with safety threat overview platforms, monetary threat opinions, ESG, and moreConsDifficult to onboard new customers because of the customizability of the platformFiltering capabilities are restricted
