Black Kite
introduced Black Kite Bridge, the industry's first solution that enables
customer and vendor collaboration for real-time risk mitigation and remediation
throughout the supply chain. This innovative, streamlined approach helps
organizations prevent business disruptions and enhance resiliency.
Third-party
breaches are on the rise, with a 29% increase last year according to Black Kite data. These breaches lead to cascading effects in extended
networks, and because of this, rapid identification of impacted organizations
and their supply chains is crucial. Moreover, this requires streamlined
communication with suppliers, vendors, and partners. In practice most companies
still use slow, unreliable manual processes, such as email and questionnaires,
to assess exposure. Further, technology stacks are fragmented, with the
vulnerability intelligence often living in a separate tool than communications.
The result is that responses to partner queries of incident exposures are often
unreliable, with response rates of well below 50%. In the time it takes to
gather intel and coordinate an outreach to their vendors, organizations are
left exposed to potential risk.
Black
Kite is known to strengthen third-party response during high-profile security
incidents by providing customers with near-real-time insights into impacted
companies with its FocusTags feature, which automatically flags vendors who have
experienced a data breach, ransomware attack or other significant cyberattack.
Now, the Black Kite Bridge extends the power of the industry's most trusted
data source by empowering customers to share that intelligence directly with
their vendors during an incident, communicate directly in the platform, take
actions to remediate, and ultimately close out the risk.
Black
Kite Bridge also addresses a common vendor pain point of being overwhelmed
with individual requests they can't respond to promptly. Now they can
communicate and make their responses visible to the entire Black Kite ecosystem
while also benefiting from real-time ratings updates from remediated
vulnerabilities. This streamlines and expedites responses so vendors can
achieve scale in resolving inquiries.
"Early
customers using Black Kite Bridge experienced a significant improvement in
vendor participation, with response rates rising as high as 90%, solving a
major pain point when it comes to third-party risk management," said Chuck
Schauber, chief product officer at Black Kite. "When customers can easily
collaborate with vendors and suppliers, it creates a system of cascading
benefits that improves security and reduces risk throughout the cyber
ecosystem."
Additional
Black Kite Bridge benefits include:
- Automation: Eliminate the need to send endless
emails, and let the automation of the Black Kite Bridge system do the
work of informing, sharing, and tracking.
- Time savings: Reduce days of outreach to
minutes. Instant reporting on KPIs.
- Cost savings: Enable one analyst to do the work
of three, enabling even resource-strapped teams to start managing risks
and preempt business disruptions.
- Increased
participation:
Improve vendor response rate by over 200%.
- Tool
consolidation:
Intelligence, vendor communications, and reporting all in a single
platform.
"The
Bridge is the most valuable aspect of the platform for us," said a manager of
vendor security and risk. "Black Kite already provides great data and insights,
but having the ability to effectively take action and collaborate with vendors
throughout our supply chain increases the value of a tool like this
tremendously because we can actually close out the risk."