Cybersecurity
Our cloud-based risk platform is designed to support cybersecurity professionals with identifying, analysing, mitigating and monitoring third-party security risks.
3 challenges
#1. Supply chain security
Third-party collaborations expose organisations to cyber risks, which can result in data breaches, supply chain disruptions, legal liabilities and reputation damage. Managing and mitigating these risks is a daunting task, as it requires continuous insight into the entire third-party landscape.
#2. Stakeholder engagement
Engaging internal teams with risk management and internal control activities, such as risk profiling, control testing or assessment reviews, can be challenging due to a lack of understanding, inadequate communication, resistance to change or tool fatigue.
#3. Regulatory landscape
With the constantly evolving regulatory landscape, ensuring compliance with both internal policies and external regulatory requirements posed by regulations such as the Network and Information Security Directive (NIS-2) and the Digital Operational Resilience Act (DORA) can be challenging.
Key benefits
- Align with best-practices
- Streamline processes
- Improve stakeholder engagement
- Standardise reporting
- Improve decision-making
3 common challenges
and our solutions
Our solution for cybersecurity professionals
Register internal and external risks. Link risks to a specific third-party, internal control(s) and/or location within your organisation. Follow the ISO 31000 best-practice workflow containing of risk identification, assessment, treatment and monitoring. Use the interactive risk matrix to easily filter different risk disciplines and scores.
One integrated register for all your internal & external compliance requirements Use it to manage compliance requirements for security, sustainability, privacy, legal, quality and many others. Define a specific scope & applicability per compliance requirement and link them to one or more assessment questionnaires. Monitor compliance in real-time.
One integrated register for all your third parties. Register multiple contracts per third-party. Assign risk profiles to segment your landscape, taking into account multiple risk domains such as cybersecurity, sustainability and compliance. Connect with your procurement system to retrieve and enrich your supplier data.
Integrate the different third-party assessment efforts of all your risk and compliance disciplines. Combine questionnaires from different risk disciplines into one third-party assessment. Suppliers log in to a secure supplier portal in which they can collaborate and provide their evidence. Our AI-powered review module makes an initial analysis.
Our AI tool analyses SOC-2 attestation and ISO certificates, identifying the applicability and key areas that require attention. This AI-powered evidence analysis streamlines the review process, ensuring that critical insights are taken from complex compliance documents, and enhancing the accuracy of your third-party due diligence process. And not insignificantly: it reduces the time required to analyse these reports by more than 90%.
Continuously monitor your third-parties in 2 million news sources and receive instant alerts on negative news articles. Activate our out-of-the-box integrations with BitSight, SecurityScorecard, Ecovadis, Refinitif and many others to retrieve your third-parties' security, sustainability, financial or compliance risks ratings in one central overview.
Our platform enables you to register, track and manage the action plans of your third-parties, ensuring that any identified risks are effectively managed and resolved. This feature allows for the documentation of action plans, assigning responsibilities, and setting deadlines for risk mitigation activities. Our integration wit Microsoft Teams ensures that your internal teams will be notified mmediately about new action plan and changes through a Teams message.
Equipped with best-practice reporting templates, our platform incorporates AI to assist in generating comprehensive summaries of the entire assessment process. This advanced reporting capability ensures that you have a clear, actionable understanding of your third-party risk landscape, facilitating informed decision-making and strategic risk management. Our best practice reporting templates include visuals such as bar charts and spider diagrams and can be branded to reflect your corporate identity. Data can be exported to PDF and Excel based on your specific needs.
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FAQ
In the overview below, we have listed the most frequently asked questions and answers. Do you still have questions? Just reach out to one of our experts.
Are industry standards like ISO and NIST available in 3rdRisk?
Absolutely. Our Content Hub includes a wide range of industry standards, including ISO frameworks and NIST standards. This provides you with ready access to authoritative compliance resources, streamlining your compliance management process.
Can 3rdRisk be integrated with existing systems and support custom domains?
Yes, our platform offers flexible integration with existing systems and supports custom domains, allowing for a cohesive and branded risk management experience. This feature enables organisations to maintain their brand identity while using our platform.
What is NIS-2?
NIS-2 legislation builds on previous NIS regulations and aims to enhance the security of network and information systems within the European Union. This requires member states to identify and implement appropriate security measures. The primary objective? Reduce cyberattack risks and limit their impact.
Why should I comply with NIS-2?
For organisations that fall under NIS-2, compliance is a critical task. Non-compliance with NIS-2 could result in substantial fines, up to 2% of the annual turnover. More importantly, adhering to NIS-2 guidelines is essential to ensure digital security and prevent cyberattacks. NIS-2 mandates organisations to elevate their digital security and adapt to the growing threats of cybercrime.
What sectors are in scope of NIS-2?
NIS-2 targets entities operating in critical sectors such as energy, transportation, healthcare, and financial services, but also other sectors crucial to the ongoing function of the economy and society:
- Healthcare
- Transport
- Digital infrastructure
- Water supply
- Energy
- Digital service providers
- Data centers
- Providers of public electronic communication services
- Water management
- Manufacturing of medical devices and chemicals
- Food
- Space
- Postal administration
- Public administrations
Can I integrate my own compliance framework into 3rdRisk?
Yes, you can. 3rdRisk allows you to integrate your existing compliance framework into our platform. This flexibility ensures that you can maintain continuity with your current processes while leveraging our advanced compliance management tools. We also have a Content Hub with prefilled best practice frameworks and questionnaires.
Can I effectively manage third-party risks with 3rdRisk without a dedicated team?
Yes. By using our third-party risk platform, you can already assess and monitor up to 100 third parties with only a few hours a week. In addition, you can also decide to outsource third-party risk management activities. For organisations that are inclined to outsource these tasks, we have established partnerships with renowned partners who are well-versed in leveraging our platform’s capabilities allowing them to deliver excellent quality at a competitive price.