BlueVoyant launches CRx to reduce cyber risk in business ecosystems

BlueVoyant, a cybersecurity services company, has launched its Cyber Risk Management (CRx) suite of services for business ecosystems, including entire supply chains and investment portfolios.

BlueVoyant’s CRx service actively manages third-party cybersecurity on behalf of clients to an agreed risk tolerance, accommodating existing client risk methodologies. BlueVoyant supports all activities within the life cycle, such as information assessment and analysis, remediation and execution, including close collaboration with business partners.

“Clients want an end-to-end solution; just identifying cyber risk isn't enough - they need to actually fix it. We built our CRx service to do just that. We do the heavy lifting needed for triaging, prioritisation and outreach, so it's not just another CISO dashboard - we reduce clients' exposure to the real threats to their business, 24/7,” comments Jim Penrose, Chief Operating Officer at BlueVoyant.

BlueVoyant’s CRx service supports the following use-cases:

• Cyber Risk Management for Investors (CRi): For Investors and portfolio managers
• Vendor Risk Management (CR3): For CISO, CIOs and third-party risk teams
• Cyber Risk Management for Critical National Infrastructure (CRni): For national cyber resilience
• Cyber Risk Management for Subsidiaries (CRs): For Global and Group CISOs

“BlueVoyant’s cyber risk management service provides our portfolio companies with additional protection through outside-in continuous monitoring. Its service helps identify, prioritise and remediate critical risks and vulnerabilities and support our portfolio companies in reinforcing their cybersecurity posture,” says BC Partners, an alternative investment manager, and an early adopter of BlueVoyant’s Cyber Risk Management for Investors (CRi) solution.

The launch of CRx coincides with the publication of new global research: ‘Global Insights: Supply Chain Cyber Risk’, commissioned by BlueVoyant, and conducted with over 1,500 CISOs, CIOs and CPOs. The research revealed that 80% of global organisations have experienced one or more cybersecurity breaches, originating from vulnerabilities in their vendor ecosystem, in the last 12 months.

“BlueVoyant’s managed CRx services make it easier for organisations and investors to quantify and manage third-party security risks. This is achieved through offering external visibility into the risk posture of vendors or investment targets during the onboarding and due diligence phases. This enables organisations to directly address the supply chain vulnerabilities that we have uncovered in our new global research,” adds Robert Hannigan, Chairman at BlueVoyant International.