BitSight set to grab TPRM ThirdParty Trust tool

BitSight, a security assessment platform, is set to acquire ThirdPartyTrust, a company that has developed a third-party risk management tool.

According to Coverager, ThirdPartyTrust is a third-party risk management platform that enables companies and vendors to perform assessments, automate TPRM workflows, and share security documents.

The post noted that the addition of ThirdPartyTrust expands the BitSight TPRM offering to provide an end-to-end third-party risk management solution for global vendor risk management teams.

The addition of ThirdPartyTrust expands the BitSight TPRM offering to provide an end-to-end third-party risk management solution for global vendor risk management teams.

BitSight CEO Stephen Harvey said, “In today’s digital economy, organizations depend on their extended supply chain more than ever and need to keep it as secure as possible. By integrating ThirdPartyTrust into our existing TPRM offering, we provide them with an integrated tool to better collaborate and share important cyber risk information among an ever-growing community of actors involved in cyber risk management.

“ThirdPartyTrust and BitSight TPRM combine the intuitive intelligence of an automated vendor assessment tool with BitSight’s first-to-market continuous monitoring solution, enabling third party and vendor risk management teams to effectively and efficiently manage scale risks throughout the supplier lifecycle.

“This solution helps you automate and scale your vendor risk management effort based on risk, use objective evidence to validate questionnaire responses, and gain increased productivity and efficiency to expand risk management across your entire third-party lifecycle. These capabilities mean security teams get comprehensive oversight of the risks involved in their third-party vendor ecosystem so they can effectively scale their processes as their business and supply chain grows.

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