Third-Party Cyber Risk Management Case Study

This case study details Schneider Electric's implementation of Third-Party Cyber Risk Management capabilities using Bitsight's services. With a network of over 52,000 suppliers, Schneider Electric faced challenges in gaining visibility into supply chain risks and evaluating vendors' cybersecurity. The integration of Bitsight's Advisor Services allowed Schneider Electric to proactively manage vendor risk by receiving alerts when critical supplier scores dropped or when specific risk vectors were triggered. By leveraging these services, Schneider Electric was able to efficiently manage risks without the need for extensive training of new team members. The collaboration with Bitsight has enabled Schneider Electric to flag risks and provide suppliers with complimentary access to the Bitsight platform, facilitating effective risk reduction across their value chain. Additionally, Schneider Electric utilizes Bitsight for Security Performance Management to monitor the security performance of its organization and subsidiaries, ensuring a comprehensive cybersecurity program is in place.