Cybersecurity rating
Security ratings are an objective, data-driven, quantifiable measurement of an organization's overall cybersecurity performance. Security ratings provide businesses and government agencies with a third-party, independent view into the security behaviors and practices of their own organization as well as that of their business partners. Security ratings are a useful tool in evaluating cyber risk and facilitating collaborative, risk-based conversations.[1] According to Gartner, cybersecurity ratings will become as important as credit ratings when assessing the risk of existing and new business relationships. Gartner predicts that these services will be a perquisite for business relationships[2]
Security Rating Services
The adoption of security rating services platforms is on the rise. In fact, Forrester Consulting found that 87% of respondents find security ratings valuable (37%) or extremely valuable (50%).[3] There are a number of companies that provide security ratings services, including ISS, SecurityScorecard, myCYPR, Panorays, BitSight, FortifyData, RiskRecon, Black Kite and UpGuard.
Security Rating Services in 2020
The COVID-19 pandemic has created a completely different environment for cyber-risk. According to S&P Global Ratings, rating services may become an exception to these changes in the world of cyber-risk.[4] Given the COVID-19 pandemic that occurred in 2020, many brick and mortar shops that have mainly been exclusively accessible through in-person contact, have been forced to provide their goods and services through a website. This shift causes a larger need for these services given the increase in possible clients that want to know the safety of their business domain.
References
- ↑ "Principles for Fair and Accurate Security Ratings" (in en). 2017-06-19. https://www.uschamber.com/issue-brief/principles-fair-and-accurate-security-ratings.
- ↑ "Innovation Insight for Security Rating Services" (in en). https://www.gartner.com/en/documents/3884271/innovation-insight-for-security-rating-services.
- ↑ "Adoption of security ratings platforms is on the rise" (in en-US). 2018-04-27. https://www.helpnetsecurity.com/2018/04/27/security-ratings-platforms/.
- ↑ Inc, BitSight Technologies. "Gartner Report: The Urgency to Treat Cybersecurity as a Business Decision" (in en). https://info.bitsight.com/the-urgency-to-treat-cybersecurity-as-a-business-decision-ppc.
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