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Bitsight Third-Party Risk Management

Score7.8 out of 10

11 Reviews and Ratings

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What is Bitsight Third-Party Risk Management?

Bitsight provides comprehensive, AI-accelerated visibility into your vendors, assets, and digital footprint of every third party (and beyond) in your network, whether you work with them directly or indirectly.

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Who Buys & Uses Bitsight Third-Party Risk Management

Bitsight Third-Party Risk Management Reviews

What users are saying about Bitsight Third-Party Risk Management.
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A high tower to oversee your digitial supply chain risks

Incentivized
Verified User
Manager in Information Technology (10,001+ employees employees)

Use Cases and Deployment Scope

Bitsight help us to address the cybersecurity posture analysis of our digital supply chain, not only optimize our own time for information gathering, but also help our vendors to be efficient in the information submission process. Give us a clear look of our overal risk related to third parties that is easy to understand.

Pros

  • Good look and feel of complex info in clear dashboards
  • Optimize vendor efforts to complete assessements
  • Define and follow action plans to close identified gaps

Cons

  • Public information is used to evaluate vendors, and not always reflects reality regarding security internal processess
  • Onboard process for vendors could be easier
  • At first, manage our own cybersecurity posture info in the tool was very complex

Return on Investment

  • Lower our FTE efforts on the TPRM process
  • Jump of visibility of our TPRM risk on initial setup
  • Great cost/return relation

Usability

Alternatives Considered

SecurityScorecard

A Bit(Short)Sighted Security Rating

Incentivized
Verified User
Analyst in Information Technology (5001-10,000 employees employees)

Use Cases and Deployment Scope

BitSight Security Ratings was evaluated for use in our vendor management project. BitSight utilizes a proprietary analysis of a domain's online presence to evaluate risk and track changes over time and provide a risk score (much like a credit score). We evaluated BitSight as a way of providing numeric risk values to vendors prior to bringing them into our environment.

Pros

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

Cons

  • 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.

Most Important Features

  • Easy to understand risk score
  • Industry average vs vendor score for comparisons
  • Trending of data over years for well known companies.

Return on Investment

  • 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.

Alternatives Considered

OneTrust and SecurityScorecard

Other Software Used

ThreatConnect Threat Intelligence Platform (TIP), Proofpoint Emerging Threat Intelligence, Mandiant Advantage Threat Intelligence

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