London, 14th November 2018 — BitSight, the Standard in Security Ratings, today announced that it has been named a Leader in The Forrester New Wave™: Cybersecurity Risk Rating Solutions, Q4 2018 evaluation. BitSight believes its inclusion and positioning in this report further affirms BitSight’s visionary and strategic approach as well as its dominant market presence in the emerging, globally significant security ratings market.
In Forrester’s assessment, BitSight received a differentiated rating (the highest rating possible) in seven criteria:
- Vision and execution
- Global reach
- Surface and deep web intelligence
- Dark web and technical intelligence
- ating efficacy and transparency
- Thought leadership and strategic partnerships
- Dashboard and alerts
Cybersecurity has become a critical global issue. Historically, there has been little transparency in the marketplace around cyber risks, incidents, and effects, making it difficult for businesses, governments, insurers, and investors to understand and value the cyber risk presented by a third-party vendor/supplier, insured, or investment. BitSight’s Security Ratings platform delivers the foundational data and analytics necessary for business leaders, investors, and policymakers to begin addressing the global cyber risk management challenge.
Report authors Trevor Lyness and Nick Hayes state, “BitSight leads the pack with a reliable rating methodology and flexible platform. BitSight’s name is well-known and respected in this budding market, and it offers one of the strongest platforms in terms of scale, reach, and partner network. BitSight places a premium on the accuracy of its ratings, incorporating strong data model governance practices and third-party validation of its scoring methodology.” The report continues, “[BitSight] is the best fit for companies that want an established, well-developed solution. [Security and Risk] pros will find value in sharing a common view with many of their industry peers and partners who also use BitSight as well as detailed and flexible dashboards.” A customer reference in the report states, “industry-wide acceptance and an intuitive UI made BitSight an easy choice for us” and “its action-plan tracking helps us stay on top of our vendors to make sure they follow through.”
“Cybersecurity ratings will be part of every future business to business transaction,” said Tom Turner, CEO of BitSight. “As the pioneer and visionary of the Security Ratings industry, BitSight is building a platform that is integral to security and risk professionals, as well as to every global business, investor, and policymaker. We are pleased to be recognised by Forrester as a leader in this evaluation. We believe this recognition, combined with our track record of vision and execution ensures that our customers are able to successfully address the global cyber risk management challenge.”
A complimentary copy of The Forrester New Wave™: Cybersecurity Risk Ratings, Q4 2018 evaluation is available for download here: https://bitsig.ht/2DbwPoV. For additional information regarding BitSight’s strategic offering in Security Ratings, visit https://www.bitsighttech.com/security-ratings.
Founded in 2011, BitSight transforms how organisations forecast and manage cybersecurity risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. BitSight Forecasting enables organisations to improve security performance by identifying areas of focus, determining optimal resource allocation and providing milestones to monitor progress. With over 1,200 global customers and the largest ecosystem of users and information, BitSight is the most widely used Security Ratings Service. For more information, please visit www.bitsighttech.com, read our blog or follow @BitSight on Twitter.