Check out the key use cases driving the success for RiskRecon customers and see how we can help you achieve better risk outcomes for your enterprise and your supply chain.
As cyber threats continue to evolve so too should every organization's understanding of where they are facing risk from their vendor ecosystem and within their own IT assets. Learn about the ways in which RiskRecon can help you understand and act on cyber risk.
Organizations now largely entrust third parties with their most sensitive data and operational functions. But these additional business relationships increase the scale and complexity of an organization’s extended risk surface, where most cyber threats and risk exposure tend to aggregate.
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 – which makes things difficult when a third-party vendor wants to know more about that organization’s cybersecurity rating and performance.
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.
Large-scale vulnerabilities and attacks like SolarWinds, Kaseya, and Log4J can quickly wreak havoc within an organization’s digital supply chain.
When faced with such catastrophic potential risk, being able to quickly identify and act on impending exposure is crucial. However, without complete visibility into your third and fourth parties, it’s nearly impossible to triage the risk and protect your organization.
A nonexistent or unorganized third-party onboarding process can immediately establish a poor working relationship with vendors, decreasing their engagement and leading to reduced cyber risk visibility.
This friction can also decrease a vendor’s willingness to adhere to contractual performance standards and support the remediation of cyber risk.
Selecting the right vendor for your organization is critical. However, conducting full, manual assessments on multiple vendors before a selection is even made can be time-consuming.
And while manual assessments do provide an understanding of the investments a vendor has made in people, processes, and technology to achieve good risk outcomes, they can’t show you how well a vendor implements and operates its risk management program.
Mergers and acquisitions (M&A) can take months or even years to materialize due to lengthy due diligence processes – and that’s before factoring in today’s heightened concerns around cybersecurity.
Having to internally orchestrate a manual assessment with respect to confidentiality only increases the time required – and manual assessments still aren’t fully equipped to tell how well an organization implements its cyber risk management program.
A lot can happen between vendor assessments, even if they are conducted annually. Data breaches may occur, and critical vulnerabilities in vendor environments could end up going unaddressed.
Without live visibility into your vendor ecosystem, your organization loses precious time to act on cyber threats – potentially compromising your dependent operations and data.
Many organizations and third-party risk management (TPRM) programs build their reassessment plans based on the apparent risk of each vendor relationship.
This means many programs use precious resources to assess the same inherently high-risk vendors annually, many of whom have effective controls, rather than focusing their attention on vendors with fewer controls in place.