Analysts found that Panorays provides “a competitive cyber-risk rating solution with well-rounded capabilities” and “is best for S&R pros that want a dedicated tool to conduct all cyber-TPRM activity. S&R pros seeking a tool that provides solid cyber-risk ratings along with other TPRM features for cybersecurity will find Panorays an intriguing option.”
The report reflects Panorays’ performance in ten areas of criteria. Panorays received a “differentiated” rating — the highest one possible — in the criteria of internal and enterprise risk context, risk assessments and review portal, and global reach. Forrester evaluated nine vendors across three categories: current offering, strategy and market presence.
According to Forrester, customer references noted that Panorays delivers “deep threat analysis and an intuitive questionnaire-builder” and “gives us a true 360-degree view of our vendor risk.”
Forrester also reported that Panorays customers value the Panorays platform’s ease-of-use and the combined internal and external visibility it enables.
“We launched our platform just six months ago, and already we have seen strong growth and acceptance. In our view, the Forrester New Wave report is the latest indication of that,” said Matan Or-El, Panorays CEO. “The market is adopting Panorays because of the added value of our unique platform, which engages both the companies and their third parties, thus increasing security throughout the supply chain. We believe that being named a Strong Performer by one of the world’s top independent analyst firms shows that analysts recognize the strength of Panorays’ technology, innovation and vision.”
Panorays’ platform combines a continuous hacker’s view of the evaluated supplier together with an overview of compliance to companies’ internal policies. This ensures that a supplier’s cyber posture is not just evaluated during vetting, but throughout the business relationship. The platform also considers the business and technology relationship with suppliers, giving more weight to those who are critical to operations. Ratings can be viewed anytime, and companies can choose to receive real-time alerts when both positive and negative security changes occur at a supplier.
Services are also SaaS-based, taking the total convenience factor one step further by skipping any time-consuming installation while providing the ability to scale from hundreds to thousands of vendors. Prior to Panorays, third-party security management processes were nonexistent, manual or simply didn’t provide the full picture to close security gaps.
About Panorays Panorays automates third-party security management. The platform enables companies to easily view, manage and engage on the security posture of their third parties, vendors, suppliers and business partners. With the Panorays platform, companies dramatically shorten their third-party security evaluation process and gain continuous visibility while ensuring compliance to regulations such as GDPR and NY DFS. Panorays is a SaaS-based platform, with no installation needed.
Panorays is currently being successfully implemented by client organizations in various industries including financial services, technology and retail.