Continuous Threat Exposure Management – The 6 Aspects You’ll Need to Address Continuous Threat Exposure Management (CTEM) is an…
BitSight is a name that resonates within the cybersecurity community, known for its work in the field of Security Rating Services (SRS) for Vendor Risk Management (VRM). Let’s delve into the specifics of BitSight and discover what sets it apart in the world of security ratings.
BitSight is in the cybersecurity industry, specializing Security Rating Services (SRS) and in Vendor Risk Management (VRM).
Security Rating Services provide a rating within a scale is to provide a clear, objective, and consistent way to evaluate an organization’s enterprise risk, or vendor cyber risk, and compare the cybersecurity health of different entities where you can monitor their ratings trend over time- and compare to industry benchmarks.
Vendor Risk Management (VRM) is a critical aspect of cybersecurity, focusing on assessing and mitigating the risks posed by third-party vendors and partners. BitSight VRM is one of their foundational product offerings that provides end-to-end vendor management capabilities.
BitSight’s platform is designed to provide organizations with real-time insights into the cybersecurity postures of their vendors. This is achieved through a comprehensive and continuous monitoring process, which assesses various factors such as security controls, vulnerabilities, and historical security incidents.
BitSight’s VRM solution is a cornerstone of its services. It empowers organizations to proactively manage and mitigate security risks associated with their vendors. The platform evaluates the security performance of vendors, providing organizations with a BitSight Security Rating. This rating serves as a benchmark to understand the cybersecurity posture of their vendors. The VRM solution from BitSight helps organizations with vendor onboarding, risk notifications, and ongoing monitoring.
Additional Resources
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?
Is it easy to switch security ratings providers?
Why is my security rating wrong?
Select What are the 5 C’s of Cybersecurity?
What is the Highest Security Rating?
What is the difference between SecurityScorecard and BitSight?
The Evolution of Cybersecurity Ratings and How They Can Boost Risk Visibility
In the BitSight ecosystem, the BitSight Security Rating is a numerical representation of an organization’s security posture. BitSight score range is from 250 to 900, with higher scores indicating stronger security postures. A good BitSight score reflects an organization’s effectiveness in managing and reducing cybersecurity risks. This score is not merely a number; it represents a commitment to cybersecurity excellence.
A good rating on the BitSight score range depends on your industry and peer comparisons. A good BitSight score reflects that your organization is in a strong position compared to industry standards and your peers.
Also, internal security practices and controls that are not publicly disclosed may not be fully captured, potentially leading to an inaccurate representation of risk. How BitSight ratings work heavily relies on the quality of the underlying data sources. Inaccurate or outdated data can lead to skewed assessments, misrepresenting an organization’s true security posture. This underscores the importance of ensuring the accuracy and reliability of data inputs.
BitSight isn’t the only player in the realm of security ratings. Several other companies offer similar services, providing organizations with alternative solutions for VRM and cybersecurity assessment. Some notable BitSight competitors include FortifyData, SecurityScorecard, UpGuard, and RiskRecon.
These competitors offer their unique approaches and methodologies for assessing and mitigating cybersecurity risks, creating a diverse landscape of options for organizations seeking to enhance their security ratings.
Some additional BitSight competitors are listed below:
While BitSight VRM plays a critical role in assessing cybersecurity postures, it is not primarily a vulnerability scanner. BitSight’s focus is on providing a broader perspective, encompassing various aspects of vendor security, including historical incidents, user behavior, and diligence in addressing security issues analyzed based on the data they can obtain about specific companies.
Based on how a Bitsight score works, and how some other security ratings providers produce a security rating about an organization, it is a good question to ask. As it pertains to BitSight VRM – is BitSight a vulnerability scanner? No, the BitSight VRM – vendor risk management – score collects external and publicly available information about your organization based on passive collection and OSINT available data. However, based on their methodology and frequency of assessments the BitSight scoring methodology report may find assets not belonging to your organization, and newer or trending vulnerabilities may not be reflected in their most recent report.
Some BitSight competitors, SecurityScorecard, and other security ratings providers, like FortifyData, do provide vulnerability scanning. This methodology enables a direct assessment of an organization’s known and unknown external assets and identifies associated vulnerabilities. This allows for assessment, and security rating, of confirmed assets to the organization which reduces asset misattribution and false positives.
BitSight’s monitoring process is continuous and dynamic. It involves the assessment and evaluation of various security parameters across an organization’s vendor ecosystem. BitSight customers are able to continuously track the security performance of vendors, providing real-time updates and insights. This monitoring of security ratings of vendors helps BitSight customers stay informed about potential risks and vulnerabilities among their vendors.
FortifyData provides a trusted and accurate security rating based on weekly external attack surface assessments of your confirmed IT asset inventory. We take into account asset classification, likelihood adjustments and compensating controls and enrich the findings with dark web discoveries and cyber threat intelligence to give you a contextualized security rating.
FortifyData is an industry-leading Continuous Threat Exposure Management (CTEM) company that enables the enterprise to manage cyber risk across the organization. By combining automated attack surface assessments with asset classification, risk-based vulnerability management, security ratings and third-party risk management, you get an all-in-one cyber risk management platform.
