59% of companies have experienced a third-party breach.
2018 Data Risk in the Third-Party Ecosystem: Third Annual Study
Cost of a Data Breach
Data Breaches can be expensive, to your reputation, to your bottom line, to your compliance profile, to the value of your company. So you do everything you can and should do to secure your data. But 50% of data breaches happen because of circumstances beyond your control – because of errors and omissions made by others – those you do business with, people and businesses who provide valuable products and services that you rely on to succeed in your own business. How can you be certain that those you rely on to do business aren’t introducing vulnerabilities that will cost you?
26%
Reputational
damage
23%
Financial
reporting errors
23%
Regulatory
non-compliance
21%
Breach of
sensitive data
10%
Lost
business
Deloitte survey respondents, damages by third parties.
It takes an average of 197 days to identify a data breach and an average of 70 days to contain it.
2018 Data Risk in the Third-Party Ecosystem: Third Annual Study
Fortress Reduces the Cost of Security & Compliance
Third-party risk management should be simple.
but sometimes it’s not 🡪
Fortress Brings Simplicity with Comprehensive Risk Management
AUTOMATED INHERENT RISK RANKING
It is important to know which vendors are critical enough to your business to justify spending precious resources on assessments. Automated risk ranking evaluates a vendor’s likely (1) data access, (2) physical access, (3) global footprint, (4) cloud and distributed offerings, (5) reputation-related services and (6) financial health risks.
CONTINUOUS CYBER RISK MONITORING
The externally-visible (i.e., on the web) cyber posture of your vendors is a very good leading indicator of internal cyber hygiene. Fortress Guardian cyber risk monitoring evaluates hundreds of data points summarized into (1) application security, (2) application vulnerabilities, (3) domain name server configuration, (4) secure protocol configuration and certificates, (5) known breaches, (6) dark web activity and (7) compromised assets.
CONTINUOUS OPERATIONAL RISK MONITORING
The third-party risk industry has fragmented solutions for monitoring other, non-cyber risks. Fortress Guardian’s continuous operational risk monitoring includes (1) negative news, social media & sentiment analysis, (2) anti-bribery & anti-money-laundering, (3) legal, (4) financial, (5) safety/OSHA and (6) regulatory & compliance issues.
ANALYTICS, WORKFLOW AND INTEGRATIONS
Fortress believes in connected intelligence and self-service data discovery and has infused rich, industry-leading business intelligence. Workflow is also equipped out of the box to give you real-time updates on assessments and asset information you have requested. Fortress Platform also integrates with all leading GRC, procurement and contract management systems.
Fortress covers 40,000 vendors and 300,000 assets
The Fortress Platform
Fortress Platform is a combination of technology, analytics and services (TAS) that provides seamless integrations to enable advanced threat scenarios and program governance. Value is unlocked from existing tools with machine learning and deep analytics driving prioritization.
Fortress Platform provides the following benefits. Click on each to learn more.
Visibility & Simplicity
FP gives you visibility through a single pane of glass, removing the need for disparate technologies that may not be compatible.
Machine Learning & Human Intelligence
FP uses both machine learning-enabled analytics and human intelligence to drive actionable insights. The objective methods used to aggregate and synthesize data provide greater dependability and reduce reliance on the subjectivity inherent in manual data collection and evaluation.
Blockchain Technology
FP utilizes patented technologies including the validation of the integrity of unique file hashes and public key cryptography using a blockchain distributed ledger – to ensure end-to-end software integrity, transactional assurance and security of cyber-physical assets.
Objective, Reliable & Proactive
FP is enabled by a NERC-onboarded Fortress VSOC team to support machine learning and to provide visibility and also recommendations and tracking for remediation, mitigation, and risk outcomes.
Automated Risk Calculations
FP allows calculation of Risk based on Consequences (Business Impact and Technical Impact) and Likelihood. This includes consideration of threat indicators and implemented controls.
Data Ingestion & Analytics Reporting
Fortress ingests data from multiple sources such as these:
- Open Source threat intelligence from our client community
- Fortress threat analysis is driven by our Virtual Security Operations Center (VSOC), which supports existing critical infrastructure companies
- Other curated threat intelligence
Fortress Secures 10% of the Power Grid and Key Assets
Fortress TPRM Resources
PRESS RELEASE – Security and Compliance Innovator, Tobias Whitney, Joins Fortress Information Security
Press Release Security and Compliance Innovator Joins Fortress Information Security to Develop Groundbreaking Solutions for Utilities, Vendors, and Service Providers Tobias Whitney Joins Orlando-based Security Company Building Solutions for Leading U.S. Energy...
White Paper: Asset to Vendor Network for Power Utilities
WHITE PAPER Asset to Vendor Network for Power Utilities The cost-effective CIP-013 supply chain risk management solution Abstract 1. Grid security has now expanded to encompass supply chain vendors.2. Asset to Vendor (A2V) is a joint venture of utility companies and...
PRESS RELEASE: FORTRESS LAUNCHES INNOVATIVE COLLABORATION TO HELP PROTECT THE POWER GRID FROM CYBER THREATS
Press ReleaseFORTRESS LAUNCHES INNOVATIVE COLLABORATION TO HELP PROTECT THE POWER GRID FROM CYBER THREATSFortress Information Security launches the Asset to Vendor Network (A2V), an new platform where electric energy companies can collectively help reduce the costs of...
Fortress Accelerates Your Security and Compliance
300% faster
program maturity
100% more vendor coverage in the same time period
40 days to
implement
40% effort
reduction
FORTRESS IN THE NEWS
Security experts cast doubt on FERC, NERC cyber intrusion response report findings
Utilities are working hard to keep hackers out of their networks, but intrusions do occur. FERC and NERC's new report focuses on common elements found among effective Incident Response and Recovery (IRR) plans.
Power Companies Brace For Supply Chain Shake-Up From New Cyber Rules
Many electricity companies and vendors are holding their breath as the Trump administration finalizes new limits on foreign equipment in an effort to bolster the U.S. power grid’s cybersecurity. The May 1 executive order to cut reliance on...
Proposed rules to protect power grid raise concerns
Energy industry owners and operators are growing increasingly nervous about new rules proposed by the Trump administration in an effort to limit foreign threats to the grid. The rules, proposed by an executive order to protect the bulk power system...
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