CyberGRX, provider of one of the world’s largest global risk exchanges, today announced that its Third-Party Cyber Risk Management (TPCRM) platform is now available for purchase in AWS Marketplace. This move enables access for enterprises around the world who are currently working with Amazon Web Services (AWS) and looking for enhanced security and efficiency in their third-party cyber risk management programs.
While 80% of organizations believe that vetting third parties is critical, 60% believe they are somewhat, or not doing so in an effective manner. And, enterprises only take action on 8% of the assessments they receive. The CyberGRX Exchange, which is already populated with thousands of completed assessments, makes it possible for security professionals to confidently assess and act on third-party cyber risk. Customers of CyberGRX receive immediate access to high quality cyber risk data on many of their third parties and the advanced analytics to turn that data into fact-based insight, enabling them to make informed risk-based decisions and to move their TPCRM program forward with speed, accuracy, and certainty.
“We are dedicated to helping organizations create effective third-party risk management programs by providing them with a modern and scalable TPCRM solution,” said Fred Kneip, CEO of CyberGRX. “Joining the AWS Marketplace will enable enterprises already working with AWS to streamline their access to the Exchange. This will deliver immediate visibility into their current third-party risk picture as well as what to do about it with risk mitigation strategies drawn from thousands of completed assessments.”
A recent study found that, on average, organizations work with over 5,800 third parties, and as digital transformation and connected ecosystems continue to expand, this number is expected to increase by 15% in the next year. As well, 82% of respondents believe they had a data breach as a result of digital transformation, and thus, effective and dependable TPCRM is increasingly becoming a top priority for CISOs and Risk Managers. The CyberGRX Exchange supports organizations throughout their TPCRM journey, giving them the tools they need to have full visibility of their third-party ecosystem, like auto inherent risk insights (AIR Insights™), dynamic and validated assessments, as well as insight into residual risk. These resources enable users to replace ineffective or outdated risk management programs, as CyberGRX offers a complete approach to reliably identify and reduce third-party cyber risk.
The availability of the CyberGRX Exchange in AWS Marketplace enhances solutions for enterprises working with AWS and looking for improved TPCRM programs. Additionally, CyberGRX partners can resell the Exchange via the AWS Marketplace Consulting Partner Private Offers (CPPO) program, which allows AWS customers to obtain CyberGRX’s solution from an AWS Partner Network (APN) Consulting Partner, who has knowledge of their business, and receive the same purchase experience they’re familiar with in AWS Marketplace.
“Over the last two years, CyberGRX has helped us transform our third-party cyber risk management program from a time-consuming assessment based approach to an efficient data based approach. Their risk exchange and analytics have helped us identify, prioritize and reduce risk at the individual vendor and overall vendor portfolio level and their customer experience team has been instrumental in streamlining the assessment lifecycle process and brokering the tools needed to reduce residual risk to our business,” said Adam Fletcher, CISO of Blackstone.
For more information on CyberGRX’s offerings in AWS Marketplace, please visit here.
CyberGRX is on a mission to modernize third-party cyber risk management. Built on the market’s first third-party cyber risk exchange, CyberGRX’s dynamic and scalable approach is innovating TPCRM for enterprises and third parties. Armed with fast and accurate data and a proven and innovative approach, CyberGRX customers make rapid, informed decisions and confidently engage with partners. Based in Denver, CO, CyberGRX was designed with partners including Aetna, Blackstone and MassMutual.