- April 11, 2023: Now known as “Bitsight VRM.”
- April 20, 2020: Published.
Bitsight VRM is a Vendor Risk Management tool provided by ThirdPartyTrust that can be used to solve inefficiencies in the exchange of risk information between companies.
- Using a LinkedIn (or network) type of model, vendors can build profiles and connect, share, and assess relevant security information.
- Companies can manage and collect questionnaires, share certifications, SOC reports, and various other attestation documents.
- The reporting and dashboard capabilities can be leveraged to analyze and gain insights into the resilience and security of their supply chain.
Monitoring a Company
Use the drop-down menu underneath the company name in the Bitsight VRM application to select which company to monitor.
If you’re subscribed to a company, you can view and manage the following:
- Their Bitsight Security Rating and risk vector letter grades.
- Click on a risk vector to see summary data and the specific observations associated with that risk vector.
- A 12-month trend line.
- Quickly access a company’s Overview page in the Bitsight platform.
If you’re not monitoring a particular company, you can view their Bitsight Security Rating Preview Report, which compares a selected organization to its industry peers and provides indications for how the organization is performing in relation to the Bitsight risk vectors.
Managing Your Portfolio
- Manage your Bitsight licenses from the Bitsight VRM platform.
- Set up tiering to prioritize companies in your portfolio based on their criticality to your organization and their security risk.
Configure Alerts in the Bitsight platform to automate how you monitor rating changes that occur in your portfolio and changes to risk vector grades.