TechValidate Research on CyberGRX


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




About This Data

This data was sourced directly from verified users of CyberGRX by TechValidate.

TechValidate verifies the identity and organizational affiliation of all participants that contribute to published research data. When research participants so desire, we also guarantee their anonymity so that they may share information honestly and freely.


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