Bitsight Third-Party Risk Management vs. Panorays vs. SecurityScorecard

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

Good:

* Initial recognition of perimeter

* Discovery of shadow IT assets

* Get nice reports to set baselines and objectives for your customers

Bad

* Does not provide threat intel as another tool

* Not enough documentation for the API or to automate scenarios

Incentivized

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

Incentivized

• Security Ratings
• Security Assessments
• Reporting Center

Incentivized

• 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

• Pricing could be reviewed for specific industries which were more impacted by the pandemic situation.

Incentivized

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

n/a

Incentivized

• 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

• Get insights about our external security posture
• Actionable tasks to solve

Incentivized