Company Announcements

SSIC Launches X-Analytics Supply Chain Enabling Effective Management of Third-Party Cyber Risks

Break through innovation delivers crucial financial exposure insights transforming legacy vendor risk management practices

ARLINGTON, Va.--(BUSINESS WIRE)--May 18, 2021-- Secure Systems Innovation Corporation (SSIC) the innovators behind X-Analytics, the premier cyber risk decisioning firm whose mission is to improve how businesses manage financial exposure to cyber risk through the power of data analytics, today announced the general availability of X-Analytics Supply Chain.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210518005274/en/

Built as part of the patented and industry leading X-Analytics cyber risk decisioning application, X-Analytics Supply Chain transforms today’s ineffective cyber risk management approach to third-party vendor risk management by:

  • Prioritizing risk management activities to suppliers most likely to cause financial impact to the business,
  • Delivering improved efficiencies by assessing vendors faster, eliminating upfront supplier interactions and reducing assessment timelines by more than 60%,
  • Enabling effective cross functional communication of third-party risk exposure, and
  • Establishing cyber resiliency through risk-based collaboration across supply chain ecosystems.

“Recent, high-profile cyber-attacks continue to remind us of the significant risk enterprises take on when engaging in third-party relationships. They also highlight the need for a more effective way to manage the potential financial impact due to supply chain cyber risks,” said Andy Bonillo, CISO for Ciena Corporation. “With X-Analytics Supply Chain, we were able to move beyond technical metrics and unvalidated scoring methods and use potential financial impact as a way to manage third-party relationships. X-Analytics Supply Chain significantly accelerated our third-party assessment time and helps us make better third-party cyber risk decisions.”

X-Analytics Supply Chain leverages advancements made by its flagship X-Analytics cyber risk decisioning application, which is used within the insurance industry to underwrite and broker billions of dollars of cyber risk financial exposure, in the boardroom community to provide effective oversight of cyber risk, and in Fortune 500 companies seeking to better manage the financial impacts of today’s complex cyber-attacks.

“Effectively managing supply chain cyber risk is essential to support modern enterprise cyber risk initiatives,” said Kevin Richards, President of Cyber Risk Solutions at SSIC. “Check list vendor risk management approaches have failed to keep pace with the latest business digital transformations. We are proud to deliver supply chain innovation that improves our clients’ overall business objectives.”

X-Analytics Supply Chain is available now. Existing X-Analytics Enterprise customers can add Supply Chain to their current environment as a simple upgrade. To learn more about X-Analytics Supply Chain and to schedule an introductory briefing, go to www.x-analytics.com.

About X-Analytics

Based in the Washington, D.C. area, Secure Systems Innovation Corporation (SSIC) is a cyber risk analytics firm whose mission is to improve how businesses manage financial exposure to cyber risk through the power of data analytics. X-Analytics is a patented and validated cyber risk decisioning platform that is changing how executives, boards and the risk management industry understand and manage cyber risk. For more information, please visit https://www.x-analytics.com.

About Ciena

Ciena (NYSE: CIEN) is a networking systems, services and software company. We provide solutions that help our customers create the Adaptive Network™ in response to the constantly changing demands of their end-users. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com.

Secure Systems Innovation Corporation (SSIC)
Kyle Ferguson, +1 703-351-5245
media@x-analytics.com

Source: Secure Systems Innovation Corporation