BlueVoyant, a cybersecurity services company, today announced a strategic partnership with UK-based third-party risk management consultancy, DVV Solutions, to deliver BlueVoyant’s Cyber Risk Management (CRx) services to DVV Solutions’ global customer base. This will be delivered primarily through BlueVoyant’s Vendor Risk Management (CR3) solution, which provides risk identification, analysis and threat remediation.
Through DVV Solutions, BlueVoyant will generate, triage, prioritize and communicate security updates to DVV customers, providing actionable intelligence as part of its Vendor Risk Management service. This allows BlueVoyant to actively reduce DVV Solutions’ clients’ exposure to the real threats their businesses face, instead of solely identifying the threats without context.
Frequently, organizations do not have the in-house skills or resources to address these supply chain vulnerabilities, with assessment and identification being very labor intensive. Now, as a BlueVoyant partner, DVV Solutions can help its customers to maximize their investment in third-party risk management programs, utilizing BlueVoyant’s CR3 managed services offering. This provides customers with access to unmatched visibility and expertise, to meet the desired vendor risk management requirements, while improving their own cyber risk postures, and those within their vendor ecosystems.
Robert Hannigan, Chairman at BlueVoyant International, comments: “The knock-on effect of COVID-19 has led to squeezed financial margins and a reduction in the resources available to tackle third-party risk in the supply chain; just as the pandemic widens the attack surface. Our CR3 solution will provide the desired level of risk analysis and remediation for DVV Solutions’ customers and their vendor ecosystems, enabling them to effectively quantify, manage, and remediate third-party security risks.”
Sean O’Brien, Managing Director of DVV Solutions, adds: “Partnering with BlueVoyant is a natural extension of our third-party risk management and security monitoring services. As businesses and their vendor ecosystems have changed throughout an unprecedented 2020, we have seen a sharp uptick in the requirement for managed services, as supply chains become increasingly complex. Organizations therefore require a managed service-based third-party risk management solution to cut through the noise, helping them to prioritize the most pertinent supply chain risks.”
“By utilizing our collective team of risk experts in this managed service model, customers will quickly improve the return-on-investment from their third-party risk management program. This will also enable them to re-allocate resources towards what’s important: eliminating control gaps, raising security standards and reducing overall risk,” added O’Brien.
BlueVoyant’s CR3 service complement DVV Solutions’ dedicated third-party risk management services portfolio. This portfolio includes on-site/virtual audits, risk assessments, questionnaires, security ratings, continuous monitoring, cyber risk maturity consultancy and regulatory compliance services.
BlueVoyant will also deliver its Cyber Risk Management for Investors (CRi) solution, as part of DVV Solutions’ mergers and acquisitions (M&A) consultancy. This service effectively identifies cybersecurity risk throughout the investment process, such as pre- and post-investment and acquisition.
This provides the desired expertise to assess, quantify, and mitigate cyber risks associated with a potential transaction or an investment portfolio. This level of due diligence is becoming an increasingly important pillar of the Environmental, Social and Corporate Governance (ESG) frameworks that many organizations are adhering to.
Robert Hannigan concludes: “Organizations are now realizing the responsibilities they have in actively identifying and managing cyber risks throughout their vendor ecosystems, and how this directly impacts operational resiliency and financial stability. Our CR3 services enables an increasing number of customers and prospects across the UK and Europe to address these issues, building upon DVV Solutions’ existing managed services portfolio.”