We are excited to have attained another award at the BITE Awards 2023!
The award was in the category “IT Security / Cyber Security, Risk Management & Compliance” for the implementation of Bitsight’s VRM solution, at a large financial organization.
The benefits the organization has with the implementation of the solution are:
✔️ A simple and automatic procedure replacing the use of Excel spreadsheets that were exchanged by email.
✔️ It provides them the ability to quickly focus on high-risk partners by using the right workflows.
✔️ It maintains a large volume of vendors and their status history, replacing manual search of each communication.
✔️ Their team can validate vendor responses, can confirm the answers provided by leveraging data provided by automated third-party assessment through TPRM.
✔️ It automates their communication with vendors, simultaneously and regardless of number, while the history of this interaction is centralized, structured, and easily accessible.
✔️ It constitutes a channel of communication between them and their vendors, to make better and more efficient use of the vendor evaluation process.
✔️ They can configure the risk calculation components, so that they align with the criteria set by their organization, to reflect the risk according to their methodology.
If you are interested in learning more about this award-winning solution, contact us at firstname.lastname@example.org.