Opus Announces Integration of BitSight Security Ratings Data to Address Accelerating Third-Party Information Security Risks
NEW YORK and LONDON and SINGAPORE, June 13, 2018 /PRNewswire/ -- Opus, the leading provider of global compliance and risk management solutions, today announced the integration of cyber-risk security ratings from BitSight, the Standard in Security Ratings, with its award-winning Hiperos 3PM Information Security Platform. The combination equips enterprises to thoroughly and objectively identify, assess and monitor the information security risk of all third parties (such as contractors, vendors and suppliers) while efficiently scaling their vendor risk management programs.
Third and fourth parties pose some of the most significant information security risks facing global enterprises today. According to a recent study by Opus and the Ponemon Institute, 56% of companies have experienced a third-party data breach in the past year -- and just 17% feel their organizations are highly effective at mitigating third party risks. When it comes to fourth parties, the picture's even worse: just 12% say they're effective at mitigating these risks.
The integration of BitSight's Security Rating Platform into Hiperos 3PM's workflow and automation platform prepares enterprises to assess and mitigate third- and fourth-party information security threats with an approach that's easy to implement and manage. BitSight Security Ratings can be used as part of both the third-party onboarding and monitoring process and supporting evidence when conducting due diligence on a third/fourth party and assessing the effectiveness of its information security controls.
BitSight produces daily Security Ratings to help manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. When used for third party and vendor management, BitSight Security ratings deliver timely, data-driven insights into any vendor's security performance by continuously analyzing and monitoring companies' cybersecurity, all from the outside. Security ratings are generated daily, giving organizations continuous visibility into the security of key business partners.
"Opus is extremely pleased to announce our partnership with BitSight. The relationship provides our clients with best-in-class security intelligence to better assess and address their third-party information security risks," said Lee Kirschbaum, Senior Vice President and Head of Product, Marketing and Alliances for Opus. "With the integration of BitSight, we can provide clients with the right combination of data, technology and best practices to significantly guard companies against data breaches. We're excited to partner with BitSight to help our customers proactively protect their businesses."
Rick Hedeman, Director of Strategic Partnerships at BitSight, said, "This partnership gives customers the quantitative data needed to effectively identify, prioritize and act on threats facing their third-party ecosystem. Through this integration, customers can weave BitSight Security Ratings data into a comprehensive and holistic program to address pressing third-party risks and minimize risk to their organizations."
About Opus
Opus is a global risk and compliance SaaS and data solution provider, founded on a simple premise: that faster, better decisions in compliance and risk management give businesses an extraordinary advantage in the marketplace.
Today, the world's most respected global corporations rely on Opus to free their business from the complexity and uncertainty of managing customer, supplier and third-party risks. By combining the most innovative SaaS platforms with unparalleled data solutions, Opus turns information into action so businesses thrive.
For more information about Opus, please visit www.opus.com or for information security www.opus.com/infosec.
About BitSight
Founded in 2011, BitSight transforms how organizations manage information security risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Organizations worldwide, including seven of the top 10 cyber insurers, 20% of Fortune 500 companies, and 3 of the top 5 investment banks use BitSight's proven Security Ratings technology on a daily basis to make integral risk and business decisions. With over 1,000 customers and the largest ecosystem of users and information, BitSight is the most widely used Security Ratings Service.
For more information, please visit www.bitsighttech.com, read our blog or follow @BitSight on Twitter.
Editorial Contacts
Diana Alickaj / Francesca Bliss
Cognito
Email: opus@cognitomedia.com
Tel: +1 646-395-6300
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SOURCE Opus
