Collaborative Accountability in Third Party Cyber Risk Management
When the organization approaches information security in third party management in manual processes, there is no possibility to be intelligent about information security governance, risk management, and compliance in these relationships. An ad hoc approach to third party management results in poor visibility across the organization, because there is no framework or architecture for managing third party information security risk and compliance as an integrated framework. It is time for organizations to step back and define a strategy and process to govern risk in third party relationships that is supported and automated with services and technology that enable collaborative accountability between the organization and it’s third parties.
CyberGRX is a third-party cyber risk management solution provider that GRC 20/20 has researched, evaluated, and reviewed that is agile for use in complex, distributed, and dynamic business environments to manage an organization’s third party management processes in context of cyber security. CyberGRX delivers a new breed of integrated and collaborative services and technology that leverages an intuitive exchange network platform to streamline third party management to make it more efficient, effective, and agile. The solution delivers significant business value and brings a contextual understanding of information security risk in third party management across an organization’s distributed and heterogeneous extended enterprise environment.
Table of Contents
- Increasing Exposure to Risk in Third-Party Relationships
- Collaborative Accountability in Third Party Management
- What CyberGRX Does
- Benefits Organizations Have Received with CyberGRX
- Considerations in Context of CyberGRX
- About GRC 20/20 Research, LLC
- Research Methodology
Michael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 23+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures, and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.
©GRC 20/20 Research, LLC. All Rights Reserved.
No part of this publication may be reproduced, adapted, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of GRC 20/20 Research, LLC. If you are authorized to access this publication, your use of it is subject to the Usage Guidelines established in client contract. The information contained in this publication is believed to be accurate and has been obtained from sources believed to be reliable but cannot be guaranteed and is subject to change. GRC 20/20 accepts no liability whatever for actions taken based on information that may subsequently prove to be incorrect or errors in analysis. This research contains opinions of GRC 20/20 analysts and should not be construed as statements of fact. GRC 20/20 disclaims all warranties as to the accuracy, completeness or adequacy of such information and shall have no liability for errors, omissions or inadequacies in such information. Although GRC 20/20 may include a discussion of related legal issues, GRC 20/20 does not provide legal advice or services and its research should not be construed or used as such.