Award-winning supplier risk management: LocateRisk sets new standards for risk assessment in the supply chain
LocateRisk was awarded second place in the "Best of Technology Award 2024" by WirtschaftsWoche in the Purchase & Supply Chain Management category! Our team is thrilled and very happy about the recognition.
Supply chain attacks are among the top 3 threats in the economy. The continuous minimization of third-party cyber risks is therefore essential for companies in order to secure their own value creation, business continuity and competitiveness.
For good reason NIS2, DORATISAX, KRITIS-Dachgesetz and other regulations and standards require companies to comply with increased IT security requirements in the supply chain. However, this means more controls, more work and more costs for everyone involved. This can no longer be managed using conventional methods. Automated and digitalized processes for risk assessment, continuous monitoring and documentation are essential here. They reduce complexity and shorten the time needed to improve the security and compliance of data and systems.
"Automated supplier risk processes compensate for the shortage of skilled workers and improve protection against cyber attacks. Companies use our platform to secure themselves and meet increasing IT security requirements quickly and verifiably," says Lukas Baumann, CEO and founder of LocateRisk. "With the combination of automated IT risk scans, digital questionnaires and powerful functions, we make work easier for everyone involved in the audit process - companies, suppliers and auditors. Winning the Best of Technology Award 2024 from WirtschaftsWoche confirms our goal of transforming the IT security process and enabling secure digitalization for every company."
Automated. Simple. Scalable. And excellent!
A supplier risk management platform that combines everything
At the heart of the platform is a performance dashboard that clearly displays all security-relevant supplier information relating to criticality, IT risk score, compliance status and changes. This makes it possible to see at a glance where potential risks from third parties exist and act accordingly. The risk evaluation can be carried out both via fully automated IT security analyses and via digital questionnaires, which are provided to the suppliers for completion. These are available as standards-based templates for GDPR, NIS2, DORA, TISAX, ISO 27001, DIN 27076, CSC and NIST. In addition, you can also create your own questionnaires, e.g. for self-classification in certain guidelines and certifications or for internal security training.
The supplier risk management platform offers:
Effortless, continuous monitoring through automated, KPI-based IT risk assessments of the external attack surface at freely selectable intervals
Efficient survey and evaluation thanks to ready-made, flexibly customizable online questionnaires for supplier self-disclosure, compliance checks, contractual reporting, etc.
Automatic warning messages in the event of changes and exceeding the risk tolerance
Fast organization and administration by automatically collecting, evaluating and documenting supplier data
Accelerated communication thanks to deadlines, query intervals, filters and functions for responding to security breaches
Simple data maintenance through automated supplier queries and filing of relevant documents with expiration dates in the supplier master data sheet
Outstanding scalability through Rest API for automated data integration and optimal retrieval in SIEM, SOAR, SOC and ticketing systems
Risk management of the entire life cycleFrom due diligence to revaluations and continuous monitoring
WirtschaftsWoche Best of Technology Award
The WirtschaftsWoche Award is an important award that is presented every year. This prize recognizes technological innovations and solutions that enable significant progress in various industries. The focus is particularly on companies and projects that promote Germany's competitiveness through technological excellence and creative approaches. The Purchase & Supply Chain Management category recognizes innovative solutions that improve the efficiency and effectiveness of purchasing and supplier management processes.
Conclusion
Digital and automated processes are a must in supplier risk management in order to effectively minimize supply chain risks. LocateRisk not only gives you a detailed overview of your business partners' IT security, but also the tools to counter potential threats quickly and effectively. Make your supplier assessments and risk management processes more efficient. Arrange a demo appointment here More about the solution for the Supplier risk management/vendor risk management
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Identify and reduce your cyber risks through a comparable and understandable overview of your IT security. Let our experts advise you and find out how LocateRisk can help you solve your cyber risks.
Learn more, book a demo, or just have a quick chat? Alex is happy to help!
Your personal consultant AlexanderFeldmann Consulting
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