TechValidate Research on CyberGRX

These pages present data that TechValidate has sourced via direct research with verified customers and users of CyberGRX. TechValidate stands behind the authenticity of all published data. Learn more »



339 Customers Surveyed

1,975 Data Points Collected

42 Published TechFacts

3 Published Charts

12 Published Case Studies



Selected Research Highlights


CyberGRX Customer Research

Surveyed IT professionals experienced the following key pain points prior to using CyberGRX:

Completed assessments took too long to receive
60%
Assessment data is not organized or actionable in a way to help me make decisions
45%
Lack of visibility against current cyber threats involving third parties
45%
Procurement-focused third party process without security involvement
29%
No benchmarkable data to share with C-suite and/or Board
29%
Other
17%

CyberGRX Case Study

Small Business Hospitality Company

Introduction

This case study of a small business hospitality company is based on a November 2021 survey of CyberGRX customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“CyberGRX has allowed our organization to make faster decisions, that are informed and consistent, on our existing and potential third-party relationships. In the first year, our organization was able to increase the number of assessments performed annually by 150%.”

Challenges

The business challenges and key pain points that led the profiled company to evaluate and ultimately select CyberGRX:

  • Completed assessments took too long to receive
  • Procurement-focused third party process without security involvement
  • Lack of visibility against current cyber threats involving third parties
  • Assessment data is not organized or actionable in a way to help me make decisions

Use Case

The key features and functionalities of CyberGRX that the surveyed company uses:

  • Assessing third-party vendors as part of the procurement process
  • Monitoring third parties as part of a compliance program
  • Assessing third-party cyber risk as part of the security process

Results

The surveyed company achieved the following results with CyberGRX:

  • Realized a return on their investment in CyberGRX immediately.
  • They said that CyberGRX improved their ability to make informed decisions regarding third-party cyber risks by over 75%.

They rated the following features of CyberGRX better than competitive tools :

  • Third Party Assessment
  • Auto-Inherent Risk Ratings
  • Framework Mapper
  • Threat Profiles
  • Third-Party Threat Intelligence Score

CyberGRX has been important in improving the surveyed company’s cybersecurity posture. They agree that CyberGRX’s threat profiles are:

  • Integral to their day-to-day operations
  • Used frequently by their team
  • Used when a new attack occurs to understand their risk

CyberGRX Customer Research

Surveyed IT professionals use CyberGRX to improve their cyber risk management in several key ways:

Assessing third party vendors as part of the procurement process
86%
Assessing third party cyber risk as part of the security process
79%
Monitoring third parties as part of a compliance program
52%
Aligning third party control gaps to common and recent cyberattacks
17%
Establishing benchmarks for industry security
7%
Mapping third party vendors to industry standards
7%

CyberGRX Case Study

Medium Enterprise Computer Services Company

Introduction

This case study of a medium enterprise computer services company is based on an April 2022 survey of CyberGRX customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“CyberGRX has enabled us to share our security assessment data with any customer to reduce time spent on assessment requests resulting in faster deal flow and higher confidence in our risk posture from our customers.”

Challenges

Prior business challenges that led the profiled company to evaluate and ultimately select CyberGRX:

  • Urgent and unplanned bespoke assessment requests for presale procurement.
  • Too much time needed to address customer follow up questions or requests post-assessment share.

Use Case

The key features and functionalities of CyberGRX that the surveyed company uses:

  • Completing self-assessments requested by a customer.
  • Said the CyberGRX assessment is the default assessment used for all customer requests.
  • Activities on the CyberGRX Exchange they anticipate they’ll leverage to improve their risk posture in the next 6-12 months:
    • Speed up deal flow by proactively sharing their assessment with customers during the sales process.

Results

The surveyed company achieved the following results with CyberGRX:

  • Rated the following CyberGRX features as “Best In Class” in comparison to other tools: CyberGRX Assessment, Threat Profiles, Validation Upload and Sharing, Third Party Intelligence Score and Data, and Predictive Risk Profile.
  • Claimed CyberGRX’s Framework Mapper is better in comparison to other tools.
  • Said that the CyberGRX Framework Mapper feature has been very important in allowing them to respond to their customers’ varied requests.
  • Significantly reduced the challenge concerning the lack of program success metric data or benchmarkable data to share with the C-suite and/or the Board.
  • Significantly reduced the amount of time needed to address questions or requests post-assessment share.
  • Significantly reduced the challenge around the lack of control over cyber reputation and risk posture due to use of security ratings and outside-in scanning tools.
  • Reduced the amount of time spent completing bespoke assessments.
  • Helped reduce urgent and unplanned bespoke assessment requests for presale procurement.
  • Said that CyberGRX has helped save time within their third-party cyber risk program.

CyberGRX Customer Statistic

63% of surveyed IT organizations plan to share CyberGRX assessment data with more customers in the next 6-12 months.

63%

CyberGRX Customer Testimonial

CyberGRX has eased the pain of constant non-standard due diligence requests from customers who don’t understand or refuse to use the cloud.

Security Architect , Global 500 Professional Services Company



More to Explore



About CyberGRX

With 360-degree correlated data and rich, diverse analytics to support real-time decision-making, you have more insight into your third-party cyber risk surface than ever before.

CyberGRX Website   CyberGRX Website