CyberGRX is a Global Risk Exchange that provides enterprises and their third parties with the most cost-effective and scalable approach to third-party cyber risk management (TPCRM). Built on the market’s first third-party cyber risk Exchange, CyberGRX arms organisations with a dynamic stream of third-party data and advanced analytics to efficiently manage, monitor and mitigate risk in their partner ecosystems.
The Exchange enables informed decision making throughout the entire TPCRM process by providing immediate auto-inherent risk insights, three tiers of validated cyber risk assessments and advanced analytics to turn that assessment data into actionable security insights.
The CyberGRX Exchange is the most cost-effective and efficient way for organisations and their third parties to identify, prioritise, and minimise third-party cyber risk. It replaces manual, static and time-consuming processes with rapid insights so enterprises can evolve from data collectors to true risk managers.
The Exchange features auto inherent risk insights, dynamic and validated assessments and advanced analytics that enable enterprises to make informed decisions throughout the entire TPCRM process. The Exchange is built on a shared cost model, where the cost of an assessment is dispersed among the community as third parties can complete one assessment and share it many times.
CyberGRX is a force multiplier for our third-party cyber risk management program. In just the first year we will be able to assess 3x more vendors than we assessed last year and reallocate the resources saved to true risk management and mitigation efforts.
Logicworks’ experience with CyberGRX has been very rewarding. CyberGRX has enabled our team to do more third-party risk assessments with less effort and the quality of information we receive from our vendors through their assessment has given us greater confidence in the security of our third-party ecosystem.
Conducting this assessment through the CyberGRX platform has been a great experience for me and I would definitely recommend it to everyone.
The CyberGRX Exchange is a central hub where enterprises and third parties can easily access, order and share validated cyber risk data. The Exchange replaces static spreadsheets with dynamic data, so enterprises always have a current view of third-party risk.
Third parties can move from filling in hundreds to thousands of disparate assessment requests every year, to simply completing a CyberGRX assessment on the Exchange, and then updating their data as their mitigation efforts or security strategies change.
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