New offering helps accelerate the sales cycle with an 85% faster security assessment process and reduces the time compliance teams spend managing requests
BOSTON – July 25, 2024 – Bitsight, a global leader in cyber risk management, today announced Trust Management Hub, a shareable security profile that centralizes the critical security documents and questionnaires required for security assessments. Early customers report a 25% reduction in workload and 85% improvement in time spent on the cyber security assessment cycle, helping teams close deals faster.
“With Trust Management Hub, Bitsight is redefining how organizations approach security assessments,” said Alex Laats, Chief Product Officer, Bitsight. “This solution not only reduces the workload for compliance teams, but also builds a foundation of trust with customers by ensuring that security documentation is always up-to-date and easily accessible.”
Trust Management Hub is the only trust center solution that validates security questionnaire responses with Bitsight data and offers an integrated workflow by combining the solution with Bitsight’s Vendor Risk Management portal.
Three-quarters of organizations admit to experiencing a major disruption directly attributable to third parties.1 Meanwhile, new regulations, including DORA and NIS2 in Europe, are compelling companies to adopt more stringent policies to secure their digital supply chains. As a result, governance, risk and compliance (GRC) teams are seeing a massive uptick in cybersecurity related work. These teams are not only grappling with increased vendor requirements, but striving to differentiate themselves from competitors by demonstrating superior cybersecurity posture.
Trust Management Hub eliminates much of the manual and repetitive work related to the security review and assessment process, while maintaining full control of secure data and enhancing team collaboration. With the click of a button, customers can streamline delivering accurate information to build immediate trust with their customers and prospects.
To learn more about Bitsight Trust Management Hub visit our blog: https://www.bitsight.com/blog/streamlining-your-response-security-assessments-bitsight-trust-management-hub
About Bitsight
Bitsight is a global cyber risk management leader transforming how organizations manage exposure, performance, and risk for themselves and their third parties. Companies rely on Bitsight to prioritize their cybersecurity investments, build greater trust within their ecosystem, and reduce their chances of financial loss. Built on over a decade of market-leading innovation, Bitsight’s integrated solutions deliver value across enterprise security performance, digital supply chains, cyber insurance and data analysis. For more information, visit bitsight.com or connect with us on LinkedIn.
1 https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2022/01/third-party-risk-management-outlook-2022.pdf