CyberGRX Australian Settlements Limited

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CyberGRX Case Study

Australian Settlements Limited

Introduction

This case study of Australian Settlements Limited is based on a May 2023 survey of CyberGRX customers by TechValidate, a 3rd-party research service.

“CyberGRX has streamlined our go-to-market collateral, giving us the ability to provide realtime assessments to customers.”

Challenges

What key pain points did you experience prior to using CyberGRX?

Too much time spent completing bespoke assessments
A lack of control over cyber reputation and risk posture due to use of security ratings and outside-in scanning tools
Too much time needed to address customer follow-up questions or requests post-assessment share

Use Case

What do you use CyberGRX for?

Completing a self-assessment requested by a customer
Proactively sharing our CyberGRX assessment with customers who send us assessment requests outside of CyberGRX
Monitoring our risk profile and cyber reputation within the CyberGRX Exchange platform
Assessing our own third party vendors as part of the procurement and/or risk management process

When asked what role the CyberGRX assessment occupies within their overall program, they said “It is the default assessment used for all current and prospective customer requests below a certain threshold (revenue, size, etc.).”

In the next 6-12 months, which of the following ways will you use CyberGRX to improve your risk posture?

Authorize more CyberGRX customers access to our CyberGRX assessment data
Update our CyberGRX profile & refresh our assessment
Use CyberGRX to manage our organization’s own third-party ecosystem (request assessments from others)

Results

Thinking about the challenges typically encountered in a third-party cyber risk management program, how well has CyberGRX helped you improve your overall program management?

Too much time spent completing bespoke assessments: Significantly reduced this challenge
Urgent and unplanned bespoke assessment requests for presale procurement: Significantly reduced this challenge
Lack of program success metric data or benchmarkable data to share with the C-suite and/or the Board: Significantly reduced this challenge
Lack of control over cyber reputation and risk posture due to use of security ratings and outside-in scanning tools: Significantly reduced this challenge
Too much time needed to address questions or requests post-assessment authorization: Significantly reduced this challenge

On a monthly basis, they said that CyberGRX has contributed 1-5 hours of time savings within their third-party cyber risk program.

CyberGRX has enabled us to:

Share our security assessment data with any customer
Reduce time spent on assessment requests resulting in faster deal flow

TechValidate Research on CyberGRX

Australian Settlements Limited

Introduction

Challenges

Use Case

Results

Company Profile

About CyberGRX

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