Security Ratings solutions have become a common solution for organizations to monitor their cybersecurity posture and that of their third parties. But many organizations aren’t happy with their current provider, and wonder: is it easy to switch between security ratings vendors? The short answer is: Yes, it is relatively straightforward to switch security ratings providers, but the process requires careful consideration and planning.
This article will guide you through the reasons for switching, the evaluation process, the actual transition, and potential providers to consider.
When Should I Consider Switching My Security Ratings Provider?
Switching a security ratings provider is a significant decision, and there are several reasons why an organization might consider making the move:
- Accuracy Concerns: Is your organization’s asset inventory used in determining the security rating accurate? Inaccurate assets tied to your organization lead to issues with misattributions and false positives. Therefore, the security rating is inaccurate and relies on an appeal with the security rating provider or some unknown entity who owns the asset tied to your score to fix it. How long does it then take for the security rating provider to update the score? If you are experiencing those issues, then you should consider changing to a different solution.
- Inadequate Coverage: If your current provider does not offer comprehensive coverage of all your digital assets, it might be time to look elsewhere.
- Cost Issues: Perhaps you’re paying too much for the services you’re receiving, or there are hidden costs that weren’t initially apparent. Sometimes you might get a security rating service for free (via grant, State program or cyber insurance) but the data is inaccurate – see first bullet point.
- Customer Support: A lack of responsive customer support can be a significant pain point, especially when dealing with security-related issues.
- Feature Limitations: As your organization grows, you might need more advanced features that your current provider doesn’t offer.
Additional Resources
Context based security ratings
Cybersecurity rating scale explained
What are security ratings used for?
How are security ratings created?
What is a good cybersecurity rating?
How do you improve your security rating?
Why is my security rating wrong?
What Kind of Company is BitSight?
Select What are the 5 C’s of Cybersecurity?
What is the Highest Security Rating?
What is the difference between SecurityScorecard and BitSight?
What is the difference between BitSight and RiskIQ?
Read the Whitepaper
The Evolution of Cybersecurity Ratings and How They Can Boost Risk Visibility
How Should I Evaluate Alternative Security Ratings Providers?
When evaluating potential new providers, consider the following:
- Coverage: Ensure the provider offers comprehensive coverage of all your assets.
- Frequency: How frequently is the score updated?
- Methodology: How is the security rating created and what is the methodology of the calculation to arrive at the security rating?
- Accuracy: Look for providers with a proven track record of accurate ratings, minimal false positives, and false negatives.
- Cost: Understand the pricing model. Are there any hidden costs? Does the price align with the features and services offered?
- Customer Support: Opt for providers known for their responsive and knowledgeable customer support.
- Features: Ensure the provider offers the features you need, both now and in the foreseeable future. Some good features to consider are:
- Enterprise and Third-Party Security Ratings: can you see the ratings for both your own organization and the third parties you’re associated with?
- Contextualized Security Ratings: are you able to classify assets, accept risk and manage likelihood and business impact adjustments?
- Risk-Based Vulnerability Management: does your ratings provider give you a prioritized list of risks and vulnerabilities so you know which to remediate first?
- Questionnaire Management: can you manage the questionnaire process from your security rating platform?
What is the Process to Switch Security Ratings Providers?
Switching a security rating provider involves several steps:
- Assessment: Begin by assessing your current needs and understanding what’s lacking with your existing provider.
- Research: Once you’ve identified your needs, start researching potential security ratings providers that fit the bill.
- Trial Period: Many security ratings vendors offer a trial period or Proof of Concept (POC) stage. Use this time to test the platform’s features, accuracy, and customer support.
- Training: Ensure that your team is familiar with the new platform. This might involve formal training sessions or learning as you go.
- Monitoring: Once you’ve made the switch, continuously monitor the new platform to ensure it meets your needs.
What Other Security Ratings Providers Should I Consider?
There are several reputable security ratings providers in the market that are Security Scorecard or BitSight competitors; two of the older security ratings providers. Some of the top ones to consider include:
- FortifyData
- BitSight
- Black Kite
- Panorays
- RiskRecon
- SecurityScorecard
- Upguard
When considering a new provider, it’s essential to align their offerings with your organization’s specific needs. What works for one company might not necessarily work for another.
Get started with switching your security rating provider
Switching security ratings providers is a decision that shouldn’t be taken lightly. While the process is relatively straightforward, it requires careful planning and consideration. By understanding when to switch, how to evaluate potential providers, and the actual transition process, you can ensure a smooth transition. Remember, the goal is to enhance your organization’s security posture, so choose a provider that aligns with your needs and offers the best possible service.