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Press Releases
Fusion Risk Management Partners with SecurityScorecard to Strengthen its Third-Party Risk Capabilities and Resilience Management
Posted on: July 27, 2023
Chicago, IL – Fusion Risk Management, Inc. (“Fusion”), a leading provider of cloud-based operational resilience, business continuity, and risk management software and services, today announced a partnership with SecurityScorecard, a global security ratings, response, and resilience company. The partnership provides customers transparency into their overall IT security risk scores and cybersecurity health ratings, delivering a complete understanding of vulnerabilities within their third-party ecosystem.
Increasing cyber threats, attacks on supply chains, and risks introduced by third parties continue to pose a significant threat to organizations across the globe. Software supply chain attacks, including the recent MOVEit attack, continue to cause disruptions throughout the value chain, so it is no surprise that Gartner found that 60% of organizations will use cybersecurity risk as a significant determinant in third-party transactions and business engagements by 2025. Organizations need to strengthen their IT and cybersecurity risk management posture today to drive sustainable growth.
To meet this demand, Fusion has partnered with SecurityScorecard and is integrating the company’s third-party risk intelligence into the Fusion Framework® System™ platform. This allows organizations to continuously monitor critical third parties, understand their impact on important products and services, and proactively identify and mitigate potential issues – all in one centralized dashboard. Organizations can identify their most critical third parties by leveraging vendor scores, ratings, and trend data. Automated alerts notify organizations when there is an adverse change in a vendor risk score or when a risk event occurs, and data drill-down capabilities prompt quick action. The functionality enhances resilience by providing actionable insights and encouraging proactive mitigation and agile responses.
Customers can also now have greater visibility into IT and cyber risks introduced by third-party relationships, enabling shared insights across teams, data-driven reporting, and informed decision-making. Data is aggregated in dashboards that are combined with existing Fusion third-party management data for seamless reporting across the organization. A centralized third-party data view provides transparency into ongoing and potential threats to drive proactive risk management processes, executive-level reporting, and efficient operational resilience strategies.
“Third parties are essential to business operations, but increasing disruptions demonstrate why continuous IT, cybersecurity, and third-party risk management initiatives are necessary,” said Eric Jackson, CPO, Fusion Risk Management. “Thousands of customers, globally, trust SecurityScorecard to measure cyber risk and provide 360-degree insights in order to help stakeholders make quick and informed decisions, strengthen cyber defenses, and minimize IT and cybersecurity risk. We are proud to partner with SecurityScorecard and expand on our native capabilities to offer our customers greater visibility into high-risk third parties and their potential impact on key business functions. While there is no replacement for robust third-party onboarding procedures, the new functionality alleviates manual tracking with 24/7 monitoring and assessments. As the risk and resilience landscape evolves, we will continue to work diligently to help our customers strengthen their overall third-party risk strategies.”
About Fusion Risk Management, Inc.
Fusion Risk Management is a leading industry provider of cloud-based operational resilience software, encompassing business continuity and disaster recovery, risk management, information technology and security risk management, crisis and incident management, and more. Its solutions empower organizations to make data-driven decisions with a holistic, agile approach and enable them to deliver on their brand promise through disruption. For more information, visit www.fusionrm.com.
About SecurityScorecard
SecurityScorecard’s patented rating technology is used by over 50,000 organizations for enterprise risk management, third-party risk management, board reporting, due diligence, cyber insurance underwriting, and regulatory oversight. Funded by world-class investors including Evolution Equity Partners, Silver Lake Waterman, Sequoia Capital, Google Ventures, Riverwood Capital, and others, SecurityScorecard is a global leader in cybersecurity ratings and the first cybersecurity ratings company to offer digital forensics and incident response services, providing a 360-degree approach to security resiliency. Our company is deeply mission-driven: we make the world a safer place by transforming the way organizations understand, improve, and communicate cybersecurity risk to their boards, employees, and vendors. Every organization has the universal right to its trusted and transparent instant SecurityScorecard rating. For more information about SecurityScorecard, visit securityscorecard.com or connect with us on LinkedIn.
Media Contact
Articulate Communications for Fusion Risk Management
fusion@articulatecomms.com
212-255-0081