SecurityScorecard Reinvents Cyber Risk Management: Introducing Managed Services to Tackle Zero-Day and Supply Chain Vulnerabilities

SecurityScorecard Introduces Managed Cyber Risk Services to Address Third-Party Cyber Risk

SecurityScorecard, a leading cybersecurity company, has announced its new partner-focused Managed Cyber Risk Services. These services aim to help organizations of all sizes manage and mitigate third-party cyber risk effectively. With the majority of organizations having a relationship with at least one-third party that has experienced a breach, the need to address and operationalize third-party cyber risk is becoming increasingly critical.

Addressing Inconsistent and Manual Third-Party Risk Approaches

Aleksandr Yampolskiy, CEO and Co-Founder of SecurityScorecard, highlights that many Chief Information Security Officers (CISOs) struggle with manual and inconsistent approaches to third-party risk management that focus primarily on checkbox compliance. This fragmented approach leaves organizations vulnerable to breaches and compromises. Addressing these issues, SecurityScorecard’s Managed Cyber Risk Services aim to revolutionize security ratings and operationalize cyber risk management for improved mission delivery.

Key Features of SecurityScorecard Managed Cyber Risk Services

SecurityScorecard’s Managed Cyber Risk Services offer a unique combination of expert guidance and a battle-tested product suite. These services provide a range of capabilities to help organizations:

Identify and Mitigate Third-Party Cyber Risk

By dynamically discovering risks across the customer’s attack surface, including third- and fourth-party ecosystems, SecurityScorecard helps reduce the risk of a compromise. The platform verifies that vendors have remediated vulnerabilities and other security issues, providing greater assurance for organizations.

Bridge the Cybersecurity Skills Gap

SecurityScorecard works hand-in-hand with customers or through partners to improve the capacity of customers’ security teams. This includes delivering strategic and tactical capabilities that enhance the value of the SecurityScorecard platform.

Manage Third- and Fourth-Party Risk Portfolio

Continuous monitoring, investigation, and analysis of risk indicators, combined with centralized threat intelligence, helps proactively identify cyber threats across the customer’s unique attack surface. The platform also manages alerts for customers, ensuring timely response and mitigation.

Make Security Ratings More Actionable

SecurityScorecard incorporates business context into decision-making processes to drive improved security posture. By deploying best practices and proven playbooks, customers can proactively protect against potential incidents and respond effectively if an incident occurs.

Verify Contract Compliance

The platform streamlines contract security compliance through a defensible and traceable process. This includes managing vendor communication, questionnaires, and escalation management to ensure consistent and effective compliance.

Enhance Board Reporting and Peace of Mind

With SecurityScorecard’s Managed Cyber Risk Services, organizations can effectively communicate third-party cyber risk to boards and benchmark against peers. This ensures that third-party risk management is entrusted to industry experts, offering peace of mind for organizations.

Integration and Leadership

SecurityScorecard’s Managed Cyber Risk Services are strategically integrated with the SecurityScorecard Platform. This allows customers to access specific portfolios, companies, findings, and issues. The platform’s API-first architecture enables data ingestion into organizations’ existing security stack and reporting tools, or integration with preferred Managed Security Service Providers (MSSPs) or service providers to achieve improved security and business outcomes.

In addition to its integrated services, SecurityScorecard has also strengthened its executive team. The company recently appointed Jeff Laskowski, a cybersecurity veteran and former leader at Mandiant, as Senior Vice President and General Manager of Professional Services, bringing further expertise to the organization.

The Partner-Focused Approach

SecurityScorecard’s partner-focused managed services approach allows organizations to leverage the expertise of SecurityScorecard and its broad ecosystem of service delivery partners. This approach enhances the benefits of the SecurityScorecard platform, enabling organizations to gain economic advantages through scale and cultivate stronger relationships with service providers.

Closing the Third-Party Cyber Risk Gap

Larry Slusser, Vice President and Global Head of Professional Services Delivery at SecurityScorecard, emphasizes that operationalizing third-party cyber risk management requires specialized skills and a dedicated workforce. Many organizations struggle with limited visibility into their vendor landscape, questionnaires, threats, and the financial impact of risks. By applying the principles of incident response to vendor risk management, SecurityScorecard’s Managed Cyber Risk Services provide a proactive and comprehensive program to eliminate business disruption and enhance cyber resilience.

Availability and Contact

SecurityScorecard’s new Managed Cyber Risk Services will be available to all customers by the end of the year. Organizations interested in these services can sign up for an invitation on the company’s website. Partners who wish to offer SecurityScorecard’s Managed Cyber Risk Services should reach out to the alliances team or their partner relationship manager. Existing customers can contact their account manager for more information.

Keywords: Cybersecurity–wordpress, security, cyber risk management, managed services, zero-day vulnerabilities, supply chain vulnerabilities

Editorial

The introduction of SecurityScorecard’s Managed Cyber Risk Services marks a significant step in addressing the increasing risk posed by third-party cyber incidents. With the majority of organizations having relationships with third parties that have experienced breaches in the past, the need to manage and mitigate these risks is paramount.

Manual and inconsistent approaches to third-party risk management have proven ineffective, leaving organizations vulnerable to breaches and compromises. SecurityScorecard’s new offering aims to revolutionize third-party risk management by operationalizing cyber risk and providing actionable solutions to address vulnerabilities.

Operationalizing third-party cyber risk management requires a specialized and skilled workforce, as highlighted by Larry Slusser, Vice President at SecurityScorecard. The company’s partner-focused approach allows organizations to leverage the expertise of SecurityScorecard and service delivery partners, ensuring the best possible outcomes.

The integration of SecurityScorecard’s Managed Cyber Risk Services with its existing platform enables organizations to access specific insights and data, enhancing their ability to manage and mitigate cyber risks effectively.

This new offering from SecurityScorecard, coupled with the appointment of cybersecurity veteran Jeff Laskowski, demonstrates the company’s commitment to providing comprehensive and industry-leading solutions to its customers.

Advice

For organizations seeking to enhance their third-party cyber risk management, SecurityScorecard’s Managed Cyber Risk Services offer a comprehensive and integrated solution. By leveraging the expertise of SecurityScorecard and service delivery partners, organizations can bridge the cybersecurity skills gap and proactively manage their risk portfolio.

When considering the adoption of Managed Cyber Risk Services, organizations should:

• Evaluate their current third-party risk management approach and identify areas for improvement.
• Assess the specific needs of their organization and determine how SecurityScorecard’s services align with those needs.
• Engage with SecurityScorecard and schedule a consultation to understand how Managed Cyber Risk Services can address their unique challenges.
• Consider integrating Managed Cyber Risk Services into their existing security stack or working with preferred Managed Security Service Providers (MSSPs) to ensure seamless implementation and maximize the value of the solution.

By adopting SecurityScorecard’s Managed Cyber Risk Services, organizations can improve their cybersecurity posture, enhance their ability to respond to incidents, and effectively manage third-party cyber risks.