Beyond your walls, risks thrive.

Don't let vulnerabilities
lurk in the shadows

Secure your ecosystem and third-parties, today!

BLOG

Third-Party Risk Management Ownership: A Critical Analysis

Reasons Companies Shouldn't Rely Solely
on Cybersecurity Rating Companies for TPRM

Incomplete Risk View

They focus mostly on cybersecurity and overlook operational, financial, and other risks.

Passive Data

Relying on public sources can miss internal vulnerabilities.

Potential for Errors

Possibility of false positives and negatives.

Lacks Context

Generic scores may not align with specific business contexts.

Static Snapshots

They provide periodic updates rather than real-time views.

No Remediation Path

They don't support collaborative risk mitigation.

Over-reliance on Automation

Can lead to false security and miss nuances.

Regulatory Concerns

Regulators might require more thorough due diligence.

Misinterpretation Risk

Scores can be misunderstood without context.

Missing Qualitative Insights

Lack of on-site audits and manual reviews.

Your Industry

Our team offers a distinctive blend of specialized knowledge tailored to various industries, substantial intellectual resources, and extensive international exposure to address the spectrum of challenges you encounter.

Our Services

We utilize data, cutting-edge technology, and analytics in our advisory, risk mitigation, and digital security services, assisting you in more accurately measuring and controlling risk. We help you convert data into actionable insights, allowing for a more systematic approach to risk management.

Engage us; a licensed cybersecurity service provider

To ensure business sustainability and bolster their digital defenses, companies are highly recommended to collaborate with licensed cybersecurity providers. Responsible Cyber, with its official License No: CS/PTS/C-2023-0413, is now an accredited provider for Penetration Testing Services in Singapore.

Start Your Journey
with Knowledge

Dive into the realm of Payment Card Industry Data Security Standard (PCI DSS) compliance with our meticulously curated PCI DSS Documentation Toolkit.

Whether you're a retail giant, an online store, or a budding merchant, ensuring the safety of your cardholder data is paramount. This toolkit provides you with the comprehensive guidance and resources needed to uphold the highest standards of payment card security.

This groundbreaking book is your go-to resource for aligning cybersecurity with your business strategies. Discover actionable insights to collaborate effectively with your CISO and security team, enabling you to build a cyber-resilient, profitable, and sustainable business.

Revolutionize your external partnership evaluations with our unparalleled Third-Party Risk Assessment Toolkit (Questionnaires).

Precision-engineered for organizations that prioritize in-depth risk assessments of third-party collaborators, this toolkit offers a systematic approach to thoroughly vetting and understanding potential external engagements.

Cybersecurity Breaches

If a third-party provider with access to your network gets compromised, it could lead to a data breach affecting your company, with significant financial losses, irreparable reputational damage.

Compliance Failures

If a third party isn't compliant with critical regulations (GDPR, HIPAA, CCPA, etc.), it could lead to significant legal penalties, financial repercussions, and operational stoppages for your company.

Operational Disruptions

If a critical third-party vendor fails to deliver services (e.g., cloud service providers, supply chain partners), it could halt your entire business operation, leading to financial losses and potential insolvency.

Financial Implications

Unmonitored third parties may become insolvent or entangled in financial controversies that can affect your organization directly, both in terms of financial loss and reputation.

"Magda and her team, with their advanced knowledge in the cybersecurity space and in-depth knowledge in cyber insurance, has brought together many key areas of the cybersecurity domain, which will empower companies in building cyber resiliency and buying cyber insurance."

IT Director, Research Organization, Singapore

"IMMUNE X-TPRM has completely transformed the way we manage third-party risks. Its customisable workflows and automated checks have enabled us to streamline our risk management processes and gain a comprehensive view of our third-party risk profile."

Myriam Zekri, Engineer, Tunisian University

"The platform's automated risk analyser and custom risk assessments have given us the ability to identify and mitigate risks associated with our third-parties with greater accuracy and efficiency."

Andrew Taylor, Senior Vice President Financial Lines, MSIG Asia

Icon