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cybersecurity leaders now play a crucial role in selecting and implementing cyber GRC platforms.This report from Gartner, featuring RiskRecon by Mastercard, supplies readers with key findings from their research along with recommendations and strategic planning assumptions for utilizing and selecting a GRC tool.
Organizations now largely entrust third parties with their most sensitive data and operational functions. To help safeguard your digital ecosystem from third-party risk, you need simple, real-time visibility of third-party partners’ cyber performance. Companies lacking this visibility cannot detect potential threats and address them.
Catastrophic multi-party breach events show that cyber risk can originate in supply chain layers beyond your immediate third parties. However, cybersecurity analysts are less likely to know who those supply chain vendors are, let alone receive rights to audit or risk assess them directly – leaving your organization exposed to a potential backdoor supply chain cyberattack.
An organization’s internet surface area is often larger and more complex than it may seem. Without a complete picture of their own risk surface, organizations are severely disadvantaged in the event of a data breach, and face losing both potential and existing business deals, vendors, or partners.
"I have found the overall experience to be great. Customer service is very responsive and our support team is outstanding."
"What I love about the product is the customer service that comes along with it for free. Our representatives have been fantastic to help with not only installation but best practices in the industry. They have gone above and beyond without further sales pitches. "
"The Riskrecon tool was very easy to implement and the customer success manager was extremely helpful with getting the platform setup. While bringing up the tool I recommended some enhancements which were implemented immediately. The tool continues to be enhanced and now with the new compliance mapping it makes it very straight forward to report risk to my leadership team."
“The product has a great deal of useful information, and understandable dashboard and can be easily integrated into existing processes. The service has been great any time we have need assistance the team has been very responsive.”
"Delivery of roadmap always fantastic. User feedback clearly incorporated into releases. Fast customer support and very few false positives."
"RiskRecon has given us valuable insights to help manage our vendor portfolio. We are now far more proactive with vendor management through the use of this tool."
Every RiskRecon assessment is custom-fitted to match your risk appetite, enabling you to focus on the issues that matter to you. This is built on our capability to automatically determine the value at risk for every system based on the data types the system collects and the system functionality.
RiskRecon has advanced workflow capabilities that enable you to easily understand risk. RiskRecon automatically produces vendor risk action plans that contain only the issues you care about. Our collaboration workflow makes it easy for you to share action plans with your vendors. RiskRecon even automatically tracks and reports each vendor’s progress in addressing their action plan issues.
What is RiskRecon?
RiskRecon is a third-party cyber risk management solution that helps organizations identify, monitor, and prioritize cybersecurity risks across their vendor ecosystem. RiskRecon provides continuous visibility into the cyber posture of their vendors, enabling organizations to make more informed risk decisions and strengthen operational resilience.
How does RiskRecon assess cybersecurity risk?
RiskRecon assesses cybersecurity risk by analyzing externally observable security controls, vulnerabilities, and digital assets to provide an objective view of an organization's cyber posture. RiskRecon automatically identifies and prioritizes security issues based on both the severity of the issue and the value of the systems affected, helping organizations focus on the risks most likely to impact their business.
Why is continuous third-party cyber risk monitoring important?
Third-party cyber risk can change at any time as vendors introduce new technologies, experience security incidents, or develop new vulnerabilities. Continuous monitoring helps organizations maintain ongoing visibility into vendor cyber risk rather than relying solely on periodic assessments or annual reviews. This enables earlier detection of emerging risks and supports more proactive risk management.
How can organizations prioritize vendor cyber risk?
Organizations should prioritize vendor cyber risk based on business criticality, exposure, and the potential impact of a security issue. RiskRecon helps organizations focus resources on the vendors that present the greatest risk by providing risk-based insights, prioritization, and actionable recommendations. This helps security and risk teams make faster decisions and allocate resources more effectively.
Who should use RiskRecon?
RiskRecon is designed for organizations that need to understand and manage cyber risk across third-party relationships, supply chains, and vendor ecosystems. It is commonly used by third-party risk management teams, cybersecurity leaders, procurement teams, compliance functions, and operational risk professionals seeking greater visibility into vendor cybersecurity performance and resilience.
How does RiskRecon support DORA and NIS2 readiness?
DORA and NIS2 emphasize continuous risk management, operational resilience, and third-party oversight. RiskRecon helps organizations support these objectives by continuously monitoring vendor cybersecurity risk, identifying vulnerabilities, and providing actionable insights into third-party exposure. This enables organizations to strengthen supply chain risk management and support ongoing cyber resilience efforts.
Stay up to date on the leading edge of business form the world of cybersecurity.