SecurityScorecard shifts to supply chain risk solutions

SecurityScorecard has announced its transition from a security ratings provider to a Supply Chain Detection and Response (SCDR) service, addressing the growing risks from third-party business partners.

The company's shift introduces a new category and reflects an evolving cybersecurity landscape, as companies face increasing threats from their extended ecosystems.

Jason Thompson, Chief Marketing and Strategy Officer at SecurityScorecard, stated, "One year ago we launched MAX as the first SCDR solution on the market. Legacy security ratings vendors dump mountains of data on customers, but without context and tooling specifically designed to enable collaboration with their business partners, security teams have struggled to protect their businesses from supply chain incidents. With SCDR, security teams gain access to precise issue-level data & robust response capabilities that reduce cyber risk in their supply chain while eliminating friction in their vendor management processes."

The SCDR product is designed to enhance critical issue identification, vendor responsiveness, and expedite incident resolution. The service offers rapid detection and remediation of vulnerabilities within the supply chain, sometimes within as little as 48 hours.

The product aims to streamline vendor collaboration, reducing time to resolve issues by 90% and lowering the incidence of third-party sourced breaches by 75% through improved cybersecurity postures in the supply chain.

Kevin Scribner, Director of Technology Risk Management at McDonald's, commented on the product's effectiveness: "SecurityScorecard MAX bolsters our third-party cybersecurity posture quickly and efficiently through proactive, real-time risk monitoring and remediation. With MAX, we unlock the ability to identify a wide range of cybersecurity concerns across our global vendor landscape and partner with those vendors to respond to and eliminate threats in our supply chain."

SecurityScorecard offers its new SCDR services in various forms, catering to different business preferences and stages in their cybersecurity maturity journey. The solutions range from self-managed products to fully managed services.

The company is focused on transforming the response strategies that organisations use for supply chain incidents, with early customer feedback indicating successful reduction of cyber incidents.

To support the transition, SecurityScorecard has evolved its platform into a full detection and response system, leveraging data collection and threat intelligence to facilitate immediate action.

An integral part of this evolution was the acquisition of LIFARs, which supported the development of a proprietary approach to incident response in the supply chain.

SecurityScorecard offers organisations the ability to manage their cyber exposure free of charge, promoting collaborative issue resolution with suppliers.

Dr. Aleksandr Yampolskiy, CEO and Co-Founder of SecurityScorecard, remarked, "SecurityScorecard's future builds on our heritage as the Security Ratings leader with a focus on helping our customers identify critical issues, remove friction with vendor collaboration, and reduce the time it takes to resolve those issues. Together, we're empowering organizations to stay ahead of emerging threats, be better equipped to respond to incidents when they occur, and build a more resilient supply chain."

With its new Supply Chain Detection and Response offerings, SecurityScorecard aims to provide tailored cybersecurity solutions, improve how organizations manage supply chain risks, and enhance vendor relationships.