Case Study: AVEVA achieves quantified cyber-risk insights and smarter security investment decisions with BitSight

Leveraging BitSight to Quantify Cyber Risk and Prioritize Security Investments

AVEVA, a leader in industrial software serving over 20,000 customers in 100 countries with support from more than 6,400 partners, faced the challenge of managing cyber risk across a rapidly expanding digital footprint and needed a data-driven way to quantify risk in business terms. To address this, AVEVA selected BitSight for Security Performance Management (SPM) and Third‑Party Risk Management (TPRM), and added BitSight Financial Quantification for Enterprise Cyber Risk to build a common taxonomy for communicating cyber risk to the board and C‑suite.

BitSight implemented automated financial-quantification simulations of scenarios (ransomware, DDoS, data breach) and provided continuous visibility, supplier assessment, and prioritization tools. The BitSight solution delivered immediate value—real, meaningful insights within 30 minutes—enabled AVEVA to visualize risk burndown for proposed security investments, justify budget decisions, raise organization-wide awareness of cyber risk, tailor reporting for stakeholders, and support negotiation of more competitive cyber insurance premiums.

AVEVA

Tim Grieveson

Chief Security Officer