Case Study: Automobile Parts Manufacturer reduces supply chain cyber risk with SecurityScorecard MAX

Automobile Parts Manufacturer Operationalizes Third-Party Cyber Risk Management

Automobile Parts Manufacturer, a global leader in designing, manufacturing, and selling components for the automotive industry, was managing third-party cyber risk through manual, point-in-time questionnaires that were often incomplete. Its program focused mainly on onboarding assessments, which created a backlog of vendor reviews and left the company exposed to unmonitored risk as it increased its cloud-first strategy. The company turned to SecurityScorecard to help move from a reactive approach to a more proactive security stance.

SecurityScorecard implemented MAX, its managed service, to automate assessments, continuously monitor vendor threats, and engage vendors on remediation. The result was a stronger operating model without adding staff, plus reduced backlog and better visibility into risk. SecurityScorecard’s vendor engagements led to 23% of vendors improving their security posture, the number of vendors with a low cyber risk rating increasing by 18%, and 57% of vendors actively managing their external attack surface.