Cybersixgill has released its Third-Party Intelligence module. This cutting-edge tool is designed to provide security teams with specific cybersecurity and threat intelligence, enabling them to continuously monitor and mitigate risks posed by third-party suppliers. This proactive approach aims to preempt attacks before they can be executed, addressing a crucial vulnerability within many organizations.
The Third-Party Intelligence module merges vendor-specific cyber threat intelligence (CTI) with cybersecurity posture data, thus revealing risks within suppliers' tech environments. This integration allows threat analysts and security operations teams to detect potential supply chain threats early and broaden their threat exposure management strategies.
Recent research underscores the urgency for such innovations, revealing that in 2023 alone, there were 245,000 software supply chain attacks, costing organizations globally $46 billion—a figure projected to rise to $60 billion by 2025. Furthermore, nearly two-thirds (61%) of U.S. businesses reported being directly impacted by a software supply chain attack in the year ending April 2023, with 66% of companies expressing distrust in their third parties to report major breaches.
Chris Steffen, Vice President of Research, Security, and Risk Management at Enterprise Management Associates (EMA), praised the launch: “Cybersixgill’s new Third-Party Intelligence is a significant advancement in delivering actionable threat intelligence insights to security teams and CISOs to help them strengthen and protect the organization’s risk posture,” he said. “Threat intelligence that shines a broad, bright light on threats from within a company’s third-party network has been a glaring missing piece in organizations’ cybersecurity programs. I applaud their efforts to bring this much-needed solution to market.”
Gabi Reish, Chief Product Officer for Cybersixgill, highlighted the critical nature of this new tool: “Security teams can take every precaution to protect their organization’s environment. But if they lack intelligence about the risks facing their third-party supply chain and the impact on their security posture, the consequences can be costly to the company’s brand and bottom line,” Reish explained. “With the rising cost of supply chain attacks, our new Third-Party Intelligence module gives security operations and threat analysts critical insights to protect their organization and its network of suppliers and partners."