Riskmethods, a supply chain risk management provider, recently announced it has enhanced the riskmethods solution by adding specialized cybersecurity performance information from BitSight. Through the partnership and product integration, organizations are positioned to identify and address the growing number of cyber risks originating from suppliers and third parties.

BitSight continuously and non-intrusively collects critical cybersecurity risk factors affecting organizations, including botnet infections, malware servers, security incidents, patching cadence and internet exposure. These insights are automatically populated into the riskmethods solution, creating a single view of an organization’s risk exposure, and helping customers manage cyber risk across a broad portfolio of suppliers.

“Cyber threats have become increasingly more pervasive in recent years, and now with COVID-19 forcing employees to work remotely, organizations are even more vulnerable,” said Heiko Schwarz, CRO and Founder of riskmethods. “Our data shows a 180% increase in cybersecurity warning signs during the first half of 2020 compared to 2019. Our partnership with BitSight enables supply chain and procurement professionals to reveal these cyber risks in real time, and move quickly to mitigate threats.”

The partnership focuses on quantifying cyber risk within both the physical and digital supply chain. The BitSight integration enables customers to evaluate the strength of suppliers’ cyber risk management, with instant visibility into their BitSight Security Rating, to make better sourcing decisions.

“Every organization faces cyber risk to their supply chain. The disruption and economic damage that malicious actors can cause through a supply chain attack can be severe,” said Dave Fachetti, Executive Vice President of Strategy at BitSight. “The riskmethods Solution with BitSight provides critical insights into third-party cybersecurity posture, protecting organizations from potential threats to their supply chain and enabling users to make faster and more informed risk mitigation decisions.”

About riskmethods

riskmethods empowers businesses to identify, assess and mitigate supply chain risk. By using artificial intelligence, we help customers automate and accelerate threat detection, enabling them to gain competitive advantage with a well-managed approach to meeting customer demands, protecting reputation and reducing total cost of risk.