Report cites that Bitsight boasts an unmatched
commitment to innovation and builds trust through advanced
analytics
BOSTON, May 20, 2024
/PRNewswire/ -- Bitsight today announced it was named a Leader in
The Forrester Wave™: Cybersecurity Risk Ratings Platforms, Q2 2024.
The new report evaluates the 10 most significant cybersecurity risk
ratings (CRR) platform vendors, with Bitsight receiving the highest
score possible in 18 criteria and the highest ranking of all
vendors in the Strategy category.
The report describes the growing criticality of cybersecurity
risk rating platforms in the global marketplace. According to
Forrester, cybersecurity risk ratings have assumed a "very real
position" among regulators, insurance providers, governments,
contracts, and all kinds of business relationships today. Forrester
notes that "buyers are now discovering more value from these
platforms: The majority of CRR customers today use these platforms
to enhance their third-party cyber risk assessment and monitoring
capabilities."
In addition to its top score in the Strategy category, Bitsight
is the only Leader to receive top scores in the innovation and
adoption criteria. As the category pioneer, Bitsight upholds a
strong commitment to advancing the market through innovation. The
report notes that Bitsight has "58 patents to date" and "the
largest R&D investment compared with other vendors."
"The world's most risk-focused governments, regulators,
investors, insurers, and enterprises depend on Bitsight ratings and
insights to make critical decisions and take action. With our
innovative, rigorous, and validated approach to ratings we are the
market leader, continuously raising the standard in the
marketplace," said Steve Harvey, CEO
at Bitsight. "The recognition from Forrester - including our top
scores in the innovation and adoption criteria - affirms for us the
exceptional value that our customers derive from Bitsight and
underscores our team's unwavering commitment to providing mission
critical cyber risk management for security and risk leaders around
the globe."
According to the Forrester report, "how a CRR vendor discovers,
attributes, and validates assets and findings sets the good apart
from the great." Bitsight received the highest scores possible in
the criteria of asset discovery and attribution and data source
variety, as well as ratings correlation testing and results.
Bitsight also received the highest possible scores in the following
product-related criteria:
- Security performance analytics
- Exposure prioritization and remediation
- Third-party cyber risk quantification support
- Ratings dispute resolution
- In platform collaboration
- Reporting and visualization
- User experience
"Bitsight builds trust through advanced analytics and
industry outreach"
According to the report, "Bitsight best
fits customers looking to centralize their attack surface
management, third-party risk management and cyber insurance use
cases." In addition, reference customers praised Bitsight's
executive reporting and analytics.
The report also stated that "Bitsight leans heavily into ratings
model validation and correlation studies to continuously test its
ratings' alignment with real-world incidents." Additionally, "its
leading security performance analytics module provides deep
insights into control performance."
The recognition from Forrester comes on the heels of several
recent product innovations from Bitsight over the past six months,
including its new AI-Powered Discovery and Attribution Engine and
integrated Third Party Risk Management solution, as well as its new
Vendor Discovery and Portfolio Risk Analytics capabilities.
Download the report here.
About Bitsight
Bitsight is a global cyber risk
management leader transforming how organizations manage exposure,
performance, and risk for themselves and their third parties.
Companies rely on Bitsight to prioritize their cybersecurity
investments, build greater trust within their ecosystem, and reduce
their chances of financial loss. Built on over a decade of
market-leading innovation, its integrated solutions deliver value
across enterprise security performance, digital supply chains,
cyber insurance and data analysis. For more information, visit
bitsight.com or connect with us on LinkedIn.
1 The Forrester Wave: Cybersecurity Risk Ratings
Platforms, Q2 2024
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