Opus has integrated cyber-risk security ratings from BitSight with its Hiperos 3PM information security platform.
According to Opus, 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 also efficiently scaling their vendor risk management programs.
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 or fourth party.
It also assesses the effectiveness of its information security controls and underwrites cyber insurance policies, benchmark performance, and conducts mergers and acquisitions due diligence.
In a recent study by Opus and the Ponemon Institute, 56 percent of companies have experienced a third-party data breach in the past year, while just 17 percent feel their organisations are highly effective at mitigating third party risks.
When it comes to fourth parties, some 12 percent say they’re effective at mitigating these risks.
Lee Kirschbaum, senior vice president and head of product, marketing and alliances at Opus, said: “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.”
He added: “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, commented: “This partnership gives customers the quantitative data needed to effectively identify, prioritise and act on threats facing their third-party ecosystem.”
He added: “Through this integration, customers can weave BitSight Security Ratings data into a comprehensive and holistic programme to address pressing third-party risks and minimise risk to their organisations.“
