Optiv Security Enhances Third-Party Risk Intelligence Capabilities to Address Continuous Cyber Security Risk Monitoring Chall...
24 May 2017 - 1:05AM
Business Wire
– Optiv Evantix Now Integrates with BitSight’s
Security Ratings Platform to Give Organizations Increased
Visibility into State of Third-Party Risk –
Optiv Security, a market-leading provider of end-to-end cyber
security solutions, today announced it has enhanced the
intelligence capabilities within its award-winning third-party risk
management platform, Optiv Evantix, to address organizations’
challenges with continuous cyber security risk monitoring provided
by BitSight. The Optiv Evantix platform now integrates with
BitSight’s Security Ratings product, which provides objective
insight into the security performance of an organization’s
third-party partners, vendors and suppliers. By combining these two
technologies with Optiv’s third-party risk management services,
Optiv now offers companies a comprehensive vendor risk management
solution that helps enhance visibility, validation, actionability
and scalability of third-party risk assessments.
“With more companies turning to outside entities to manage
aspects of their business, we are seeing a dramatic increase in the
number of third parties with which an organization interacts and
shares information. However, this opens up the enterprise to a much
greater level of risk exposure. As such, it is critical for
organizations to have visibility into the state of security for
each engaged third party so they can take any necessary actions to
reduce their overall risk,” said Angela Gelnaw, senior research
analyst IDC, which recently published a report on this topic.
Optiv Evantix, which recently was honored with a 2017 IT World
Award®, is a software-as-a-service platform that expertly
identifies and measures an organization’s third-party risk by
assessing relationship risk, business profile risk and control risk.
Through powerful assessment tools, a logical workflow,
industry-specific standards and a relevant business strategy, Optiv
Evantix assists clients with operationalizing their third-party
risk management program, while also complying with legal
requirements and regulations. The BitSight Security Ratings
platform uses evidence of security outcomes from networks around
the world and applies sophisticated algorithms to produce daily
security ratings, giving visibility into a company's security
posture over time. Through this integration, Optiv Evantix clients
can leverage BitSight’s Security Ratings Report to enhance
continuous risk monitoring within the Optiv Evantix platform.
“Managing third-party risk programs is a daunting and costly
task, and one that most organizations do not have the resources or
expertise to handle,” said James Christiansen, vice president of
information risk management, Optiv. “Optiv has extensive
capabilities that help companies manage, assess and mitigate their
overall third-party risk as it relates to financial risk,
regulatory risk, internal controls, and now cyber security risk
through the integration of Optiv Evantix and BitSight. We are
pleased to extend this enhanced third-party risk intelligence
functionality to clients looking to gain increased invisibility
into their third-party risk program.”
The integration of Optiv’s and BitSight’s third-party risk
management platforms provide Optiv Evantix clients with:
- Consolidated View of Risk: Optiv
Evantix allows for a single view of internal and external controls
and risk factors. BitSight provides a continuous, objective,
independent measurement of cyber security risk that helps
organizations address the key questions of which vendors to focus
on, what questions to ask, and when to engage, providing greater
insight and visibility to Optiv Evantix users.
- Actionable Intelligence: Enables
validation and issue management for BitSight reports through Optiv
Evantix’s automated workflows in order to support remediation plans
and action.
- Standardized Decision Making:
The combined solution of Optiv Evantix and BitSight allows
organizations to operationalize third-party risk management.
Providing rich risk intelligence data in an aggregate view allows
for the standardization of risk scoring and enables clients to make
data-driven decisions.
“To fully address the increasing third-party risk, organizations
will need to leverage multiple solutions in a seamless way that
scale and cover continuous threats such as emerging vulnerabilities
and their use in exploits and ransomware, while meeting these needs
economically. The integration of Optiv Evantix and BitSight is a
great example of this,” said Dave Fachetti, senior vice president
of partnerships, BitSight. “The combination of the value that both
Optiv Evantix and BitSight deliver makes this joint offering such a
powerful piece of what is needed for organizations to address this
increasingly strategic risk.”
Optiv’s suite of third-party risk management services, enabled
by Optiv Evantix, help organizations effectively plan, develop and
manage third-party risk programs. Optiv’s comprehensive solution
enables organizations to operationalize their third-party risk
approach no matter the maturity of their program and regardless of
where the responsibility falls within the organization. These
capabilities also help manage to the regulatory requirements and
compliance standards relevant to the client’s industry.
About Optiv SecurityOptiv is a market-leading provider of
end-to-end cyber security solutions. We help clients plan, build
and run successful cyber security programs that achieve business
objectives through our depth and breadth of cyber security
offerings, extensive capabilities and proven expertise in cyber
security strategy, managed security services, incident response,
risk and compliance, security consulting, training and support,
integration and architecture services, and security technology.
Optiv maintains premium partnerships with more than 400 of the
leading security technology manufacturers. For more information,
visit www.optiv.com or follow us at www.twitter.com/optiv,
www.facebook.com/optivinc and
www.linkedin.com/company/optiv-inc.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170523006044/en/
Optiv SecurityLauren Howe,
443-519-5455lauren.howe@optiv.comorJason Cook,
816-701-3374jason.cook@optiv.com
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