UpGuard Automates Vendor Risk Management with New CyberRisk Product

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Cyber resilience company unveils product to automate third party risk detection

Just as companies do background checks on prospective employee hires, it only makes sense that they conduct similar assessments of any third-party business partners before granting them access to their corporate data.

UpGuard, the company behind the world's first cyber resilience platform, today launched CyberRisk, an integrated risk mitigation platform for security professionals to automate vendor risk management for third parties.

The traditional methods for vendor assessment are time-consuming, manual, and ultimately, ineffective when dealing with dynamic modern environments with billions of risk factors. Security professionals are tasked with manually surveying the risks posed by third parties, an arduous process that involves reviewing lengthy questionnaires with no mechanism for tracking and verifying responses.

CyberRisk streamlines the risk assessment process as the first product to provide customers with a real-time view of the cyber risk associated with every vendor in their portfolio through a single, easy-to-understand score, the Cybersecurity Threat Assessment Rating (CSTAR). With CyberRisk, enterprises are able to evaluate susceptibilities to their internal and external infrastructure, monitor security compliance, and automate vendor risk assessments. UpGuard’s CyberRisk product actively scans billions of digital assets in real-time – more than a hundredfold the number of targets monitored by other security rating companies.

"Just as companies do background checks on prospective employee hires, it only makes sense that they conduct similar assessments of any third-party business partners before granting them access to their corporate data," said Mike Baukes, co-founder and co-CEO of UpGuard. "Unfortunately, many organizations still lack the processes and tools to conduct a comprehensive audit of internal and external factors affecting vendor risk. This is evidenced by the sheer number of breaches occurring on a daily basis. This is an epidemic. Our CyberRisk product not only integrates both critical aspects, but we take it several steps further by providing our customers with clear remediation guidance to become truly cyber resilient."

UpGuard has an unrivaled track record for identifying enterprise business risk. In the third quarter of 2017 alone, UpGuard’s Cyber Risk Team has discovered and secured a multitude of third party data exposures from enterprises including Verizon, via technology vendor NICE Systems, the Pentagon’s National Geospatial-Intelligence Agency, via defense contractor Booz Allen Hamilton, and most recently, Accenture.

Since its inception in 2012, UpGuard has secured hundreds of millions of publicly exposed records and continues to grow more than 300% year over year. Enterprises including NASA, the New York Stock Exchange, RackSpace, ADP and many others rely on the UpGuard Cyber Resilience platform.
For further information about UpGuard’s Cyber Risk product, visit: http://www.upguard.com

About UpGuard
Businesses depend on trust, but breaches and outages erode that trust. UpGuard is the world's first cyber resilience platform to give business critical insights into 3rd party risks that makeup the digital supply chain for complex businesses. UpGuard gathers complete information across every digital surface, stores it in a single, searchable repository, and provides continuous validation and insightful visualizations so companies can make informed decisions. UpGuard is headquartered in Mountain View, CA with offices in Portland, OR and Sydney, Australia. To see how UpGuard works, or to get your CSTAR rating, visit http://www.upguard.com.

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Kelly Rethmeyer
UpGuard
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