Riskonnect, the leader in integrated risk management solutions, today announced two new strategic partnerships at its annual customer conference held this week. RapidRatings, a financial health analytics firm, and FortifyData, a cyber security software provider, will add critical information regarding potential risks of suppliers and vendors to Riskonnect’s third-party risk management solution, which is part of Riskonnect’s integrated risk management platform.
“Partnering with Riskonnect will enhance financial health transparency, improving customers’ ability to make critical business decisions with their third parties.”
These partnerships will significantly boost the capabilities and performance of Riskonnect’s offering and reinforce the company’s commitment to accelerating time to value through its strategic partner ecosystem.
RapidRatings’ analytics unlock financial transparency to transform the way the world’s leading companies manage third-party risk by providing sophisticated analysis of the financial health of public and private companies. The firm’s FHR® (a quantitative measure of financial health on a scale of 1-100) will be integrated into Riskonnect’s third-party risk management software, providing customers with best-in-class financial data from a wide range of sources through a singular view.
“The need for greater visibility into third-party networks has never been higher, so enabling our clients to identify risks early is key,” said Eric Evans, Managing Director, Business Development for RapidRatings. “Partnering with Riskonnect will enhance financial health transparency, improving customers’ ability to make critical business decisions with their third parties.”
FortifyData helps enterprises of all sizes assess, identify and manage their cyber security posture. FortifyData’s service will integrate into Riskonnect’s third-party risk management software to provide a cyber risk score, count of infrastructure issues, count of application issues, count of dark web records and IP threat analysis, which enable customers to prioritize resources and target vendors and suppliers with the most cyber risk.
“Identifying and preventing cyber-attacks is a critical consideration when dealing with third parties, including both your partners and vendors, and FortifyData is unmatched in its ability to measure a company’s exposure to cyber threats,” said Bob Morrell, CEO at FortifyData. “The Riskonnect partnership will provide greater access to our holistic cyber risk management platform, ensuring that enterprises of all sizes can protect themselves and comply with industry security standards.”
These partnerships will bring all available vendor information into one platform to better identify threats and high-risk suppliers and vendors.
“Vendors and other third-party suppliers are critical to the success of most organizations, but they also pose considerable threats,” said Andrea Brody, CMO at Riskonnect. “Riskonnect’s third-party risk management solution brings all vendor information together and monitors third parties throughout the entirety of the relationship. Our partnerships with RapidRatings and FortifyData will create a 360 view of an organization’s vendor and supplier base, which is critical in protecting customers, the bottom line, and brand.”
Learn more about Riskonnect’s third-party risk management solution here.
Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 900 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 500 risk management experts in the Americas, Europe, and Asia. To learn more, visit www.riskonnect.com.
RapidRatings® is transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in the world. The company’s analytics system provides predictive insights into third-party partners, suppliers, vendors, customers and securities issuers. Business relationships informed by the RapidRatings Financial Health System are more productive, transparent and rewarding. For more information, visit www.rapidratings.com.
FortifyData is a cybersecurity software company that helps enterprises of all sizes assess, identify and manage their cybersecurity posture. FortifyData’s best-in-class cyber risk management platform tracks performance against key risk and compliance factors, allowing companies to comply with industry security standards, including PCI, HIPAA, SOC 2, ISO 27001, NIST, 23NYC500 and other standards. FortifyData analyzes the three pillars of cybersecurity – people, process and technology – to help clients safely grow their business. More information at www.fortifydata.com.