Bitsight Third-Party Risk Management vs. D&B Risk Analytics

If you are considering BitSight Security Ratings as a portion or bulk of a larger vendor management project you will be well served in letting the risk scores be an indication of how closely you need to examine a vendor. However, you should not base your assessment solely on the risk score provided. The risk score is based on publicly available data and can be inaccurate.

Incentivized

Great for vendor risk management and running financial health reports on our supplier base. In addition, our transactional banking team uses the platform (more specifically the Paydex score) to assess obligors and clients for financial health. I think the ESG component of the platform still needs more work. I don't think there's enough data in the industry to really make good predictive scores.

• Security hygiene tracking over time
• Understandable risk score based on observations
• Predictability model of potential cyber security issues based on security habits.

Incentivized

• Robust insight on financial health.
• Continuous monitoring & alerts.
• Predictive measurers that are quantifiable.

• Since data is based on public registration IP and domain data can be stale depending on ISP/Domain registration update delays.
• Correcting a false detection is a month-long endeavor and requires the company with the impacted score to clean up BitSight's data.
• Customer service for incorrect data is convoluted and requires a deep understanding of domain registration to correct the data. The responsibility for correcting data is placed solely on the customer's shoulders.

Incentivized

• Finding the correct entity in D&B. There are usually tons of D&B #s for one entity.
• ESG ratings still need work.
• We are still determining internally what the best practice is for these financial health ratings. What does it mean for us?

D&B Risk Analytics contains all information I need to do my job well and has a daily updated scores to reflect the financial situation.

BitSight Security Ratings ranks evenly with SecurityScorecard and both below OneTrust for our use case. We needed a platform that would let us define risk for our organization and weight scores differently based on data sensitivity. BitSight and SecurityScorecard are aggregate data that can provide insight into the security habits of a potential vendor and should be considered as an addition to most vendor management projects. However, they both provide metrics based on hygiene and not on data-defined risk. In concert with a platform to evaluate risk based on data and to inform the overall evaluation of a vendor, BitSight Security Ratings can be made to shine. Just understand that you may have to validate some data.

Incentivized

I only used D&B Risk Analytics.

• Wasted resource hours cleaning up data to correct erroneous risk score.
• Extra time spent addressing calls from clients about erroneous risk score data.
• Extra time validating risk score provided by BitSight Security Ratings for potential vendors to ensure valid data.

Incentivized

• We have had the solution for less than a year, so it is tough to say how much positive/negative impact it has had.
• We are now able to continuously monitor some entities in our supplier base. We were not able to do this before.