Ditching Outdated Security Assessment Methodologies with CyberGRX
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Ditching Outdated Security Assessment Methodologies with CyberGRX
Additional Info
| Company | CyberGRX |
| Website | http://www.cybergrx.com |
| Company size (employees) | 100 to 499 |
| Headquarters Region | North America |
Overview
Many organizations still approach third-party risk assessments with an outdated method—static spreadsheets or bespoke assessments. This is where CyberGRX Exchange platform is a game changer.
The CyberGRX Exchange has extensive breadth and depth of third-party cyber risk data available with over 225,000 companies and over 12,000 completed assessments–the only risk management platform with this level of standardized, attested cyber risk data. Because of this level of data, CyberGRX can provide predictive risk intelligence features that upends the traditional risk assessment process.
These capabilities include:
-Predictive Risk Profiles: The first in a series of predictive risk intelligence capabilities. CyberGRX can anticipate how individual third parties within a company’s vendor ecosystem will respond to a security assessment questionnaire with an accuracy rate of up to 91%. Customers can use the Predictive Risk Profile to understand how individual vendors impact their cyber risk as well as understand how they are viewed as a third-party by their own customers.
-Unparalleled Portfolio Insights: By leveraging machine learning, CyberGRX can provide comprehensive and contextual insights—almost immediately—across an entire vendor portfolio. Using Portfolio Risk Insights, customers have visibility into the riskiest vendors based on customized risk views and are continuously monitored based on the domain cyber hygiene and industry intelligence gleaned from technology partners.
-Efficiently manage an evolving third-party ecosystem: Predictive Risk Profiles are dynamically updated to refresh data used for analysis and benchmarking, always showing a third-party’s most recent security posture. CyberGRX’s scalable approach accommodates the entire vendor ecosystem.
-Effectively reduce cyber risk: CyberGRX’s validated data sets are integrated with threat intelligence and real-world attack scenarios based on the MITRE ATT&CK framework to apply advanced analytics and gather actionable insights to identify vulnerabilities, mitigate risk and enhance security postures.
How we are different
-CyberGRX reduces time spent on assessments: The comprehensive, auto-validating and cloud-based assessment can be completed once and shared multiple times through the CyberGRX Exchange. This saves time for the third party, who faces on average, more than 100 assessment requests per year. It also provides immediate view into both predicted and attested assessment profiles for customers on the Exchange, with some receiving near-instant access to a completed questionnaire.
-CyberGRX simplifies the assessment questionnaire: Lengthy and redundant questionnaires are a thing of the past! CyberGRX assessments remove irrelevant questions and highlight inconsistencies in real-time. In addition, while waiting for assessments to be completed, organizations are still vulnerable. With the Predictive Risk Profile, customers can immediately view how CyberGRX anticipates that a vendor will complete a questionnaire--with up to 91% accuracy--so that they can create a prioritized risk management strategy.
-CyberGRX allows companies to easily share assessments: Once an assessment is completed, third parties can share the results with as many upstream partners as they like, ensuring real-time risk management collaboration. As a result, organizations can eliminate the need to complete over 70% of security questionnaires and accelerate the sales cycle for their business.
