BlueVoyant expands cyber third-party risk management across eight business risk categories

Feb. 21, 2024
The new service enhances BlueVoyant's Supply Chain Defense, enabling a holistic capability for organizations to manage risk within their supply chains.

NEW YORKFeb. 21, 2024 -- BlueVoyant, a cybersecurity company that illuminates, validates, and remediates internal and external risk, today announced the release of its AI-driven Supply Chain Defense Business Risk Monitoring.

Seamlessly integrated into the existing Supply Chain Defense (SCD) platform, the new product offering enhances the company's industry leading SCD, a fully managed solution that rapidly identifies and resolves critical cybersecurity issues in organizations' third-party ecosystem.

Expanding beyond third-party cyber risk management (TPRM), BlueVoyant's Business Risk Monitoring solution collects, prioritizes, and contextualizes risk events that may prevent a third party from delivering its service or product or expose the client to reputational or regulatory risk through its business relationship with the third party. The service uses AI/Machine Learning (ML) to monitor more than 50,000 data sources to detect risk events across eight categories.

Those categories include:

-  Legal/Regulatory
-  Foreign Influence
-  Financial
-  Operational
-  Governance
-  Market/Economic
-  Corporate Social Responsibility (CSR)

"With the addition of Business Risk Monitoring, clients will now be able to manage business risks attributed to third parties through validated and prioritized risk findings according to client-specific thresholds," said Joel Molinoff, global head of BlueVoyant's Supply Chain Defense. "Clients increasingly want to integrate cyber and business operation-related third-party risk management programs, and BlueVoyant is now filling this critical need."

BlueVoyant's foundational strength in supply chain cyber risk reduction also sets its solution apart from other TPRM vendors, who started with a business risk offering and only recently expanded into cyber risk through partnerships and integrations. With BlueVoyant, business and cyber risk reduction are seamlessly integrated, enabling clients to operate with efficiency and confidence across the entire spectrum of third-party risk.

More information on BlueVoyant Supply Chain Defense Business Risk Management is available here.