Bitsight Unveils New AI-Powered Framework for Enhanced Vendor Risk Management

Bitsight Introduces AI-Driven Framework Intelligence

In a significant advancement for cyber risk management, Bitsight has launched its newest product, Bitsight Framework Intelligence. This AI-powered solution revolutionizes how organizations evaluate and operationalize cybersecurity frameworks. Designed to provide a deeper understanding of third-party risk, the platform combines automated control mapping with real-time threat intelligence, addressing a crucial need for security and risk management teams.

Automating the Compliance Process

One of the main challenges faced by organizations today is the overwhelming volume of security attestations and vendor compliance documentation. Bitsight's Framework Intelligence tackles this issue head-on by automating the extraction and mapping of security controls from compliance documents. This functionality aligns them with various widely recognized frameworks such as SIG LITE, NIST CSF, and ISO 27001. By doing so, the solution streamlines the manual processes that historically consumed valuable time and resources.

Gregory Keshian, Chief Product Officer at Bitsight, emphasized the potential for this technology to transform third-party risk management. He stated, "Bitsight's AI changes the game by automating the work at scale, intelligently mapping it to customers' existing controls, and pulling in powerful datasets to uncover the risks that truly matter."

The Edge of Real-Time Insights

What distinguishes Bitsight's Framework Intelligence from its competitors is its integration of live exposure and threat data. The solution not only simplifies compliance assessments but also enriches them with real-time insights, allowing organizations to maintain an up-to-date view of their vendors' risk profiles.

This dynamic nature enables businesses to detect control weaknesses over time, link ongoing threats to specific framework controls, and identify emerging risks that traditional assessments may overlook. Such capabilities are essential as security threats continue to evolve rapidly in the digital landscape.

Meeting Evolving Regulatory Standards

With regulatory frameworks continuously multiplying, security and compliance teams are under increasing pressure to perform accurate assessments swiftly. The automation features of Bitsight Framework Intelligence directly address these compliance challenges by facilitating:
1. Automated Document Review: The AI extracts and classifies relevant controls from vital compliance artifacts like SOC2 and audit reports, alleviating the burden of manual review.
2. Standardized Assessments: The platform standardizes control mapping, ensuring consistency and clarity across evaluations of hundreds of vendors.
3. Enhanced Speed and Scale: Risk teams can assess a larger number of vendors more thoroughly and in less time, thus improving efficiency in managing third-party risk.
4. Live Data Insights: Utilizing Bitsight's up-to-date threat intelligence maintains current assessments, allowing organizations to ground their risk evaluations in real-world scenarios.

Keshian's insights reflect a clear demand for solutions that keep pace with the complexities of today's security landscape. "Security frameworks are essential for evaluating vendor risk, but they can become cumbersome. Bitsight Framework Intelligence evolves these frameworks into dynamic, intelligence-led systems capable of adapting to real-time threats."

Future Enhancements

Planned enhancements for Bitsight Framework Intelligence include deeper integrations with other Bitsight products, thereby offering even greater proactive third-party monitoring solutions. As organizations navigate the intricate web of regulatory and cyber threats, this combined approach aims to empower businesses with the tools necessary to confidently manage their cyber risk landscapes.

About Bitsight

Bitsight stands as a leader in cyber risk intelligence, harnessing advanced AI to provide organizations with actionable insights derived from an extensive external cybersecurity dataset. Over 3,400 clients and more than 65,000 organizations actively utilize its platform to gain real-time visibility into cyber risks and threat exposures. By identifying vulnerabilities, detecting emerging threats, and facilitating effective remediation, Bitsight remains at the forefront of enhancing cybersecurity practices across various sectors.

For more information on Bitsight and its innovative solutions, visit Bitsight's website or read their blog for the latest insights on cybersecurity and compliance evolution.