BlueVoyant, a cybersecurity firm specializing in internal and external risk management, has unveiled its latest product, the AI-driven Supply Chain Defense Business Risk Monitoring. This offering is seamlessly integrated into the existing Supply Chain Defense (SCD) platform, renowned for rapidly identifying and resolving critical cybersecurity issues within organizations’ third-party networks. The Business Risk Monitoring solution expands beyond traditional third-party cyber risk management (TPRM) by collecting, prioritizing, and contextualizing risk events that could impede a third party’s service delivery or expose the client to reputational or regulatory risks. Utilizing AI and machine learning, the service monitors over 50,000 data sources across eight categories, including Legal/Regulatory, Foreign Influence, Financial, Operational, Governance, Market/Economic, and Corporate Social Responsibility (CSR).

Joel Molinoff, global head of BlueVoyant’s Supply Chain Defense, highlighted the significance of the Business Risk Monitoring addition, stating that clients can now manage business risks linked to third parties through validated and prioritized findings aligned with client-specific thresholds. The integration of cyber and business operation-related third-party risk management programs addresses the growing demand from clients, offering a comprehensive solution.

What sets BlueVoyant apart is its foundational strength in supply chain cyber risk reduction. Unlike other TPRM vendors that initially focused on business risk and later expanded into cyber risk through partnerships, BlueVoyant seamlessly integrates both aspects. This integration empowers clients to efficiently and confidently navigate the entire spectrum of third-party risk, distinguishing BlueVoyant in the cybersecurity landscape.