Panorays Named Leader in Cybersecurity Risk Rating Platforms for Q2 2024

Last Updated on: 22nd May 2024, 09:21 am

Praised for its Superior Vision, Advanced AI-led Asset and Vendor Discovery, and Focus on Business Context for Third-Party Cyber Risk Management

Panorays, a top provider of third-party cyber risk management solutions, proudly announces its designation as a Leader in The Forrester Wave™: Cybersecurity Risk Rating Platforms, Q2 2024. Forrester Research, Inc. evaluated 10 of the most significant vendors in the Cybersecurity Risk Ratings Platforms market, judging them on 25 criteria that cover each vendor’s current offering, strategy, and market presence. Panorays received the highest possible scores in criteria such as asset discovery and attribution, vendor discovery and mapping, and exposure prioritisation and remediation.

The Forrester Wave™: Cybersecurity Risk Rating Platforms, Q2 2024 specifically mentions Panorays vision, stating: “its superior vision highlights supply chain complexity and the deep technical functionality required to secure it from a first- and third-party perspective.” In recent years, Panorays has pioneered the evolution of cyber risk rating platforms to meet third-party cyber risk assessment and management needs, enhancing the value of such platforms. The report mentions Panorays’ significant business value, stating, “Panorays’ references customers gave its platform the highest satisfaction rating for overall business value.” The report also notes, “Panorays best fits enterprise TPRM programs.”

Panorays’ platform allows organizations to customize risk assessments based on each specific business relationship, providing insights and capabilities for security managers, business owners, and business executives, as stated in the report, “Panorays prioritizes business context for third-party cyber risk management.” 

In addition, the report states, “Among Panorays’ strengths are strong features for AI-led asset and vendor discovery, which include attributing confidence scores to all findings and publishing source details within each record for enhanced transparency. It’s AI Document Validation tool assesses supplier questionnaire responses to verify whether the observed data supports the response, streamlining the effort to prioritize remediations.” 

Panorays leverages cutting-edge domain-specific AI capabilities and practices, built on its proprietary self-hosted model, to conduct comprehensive vendor discovery to the Nth level, attributing confidence scores to thousands of asset findings, differentiating itself from generic third-party risk management solutions. 

“The power of our platform is that we can offer a comprehensive and modular solution that includes both internal and external assessments, automation, integrations, collaboration, and regulatory compliance, without compromises,” said Matan Or-El, CEO and co-founder, Panorays. “We are grateful for the confidence and trust our customers and partners have placed in Panorays. And we are very proud of this recognition from Forrester, which to us further validates our belief that we offer the industry’s best solutions for securing the supply chain.”

Read the full Forrester Wave™: Cybersecurity Risk Rating Platforms, Q2 2024 here

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