Panorays Named Most Innovative Third-Party Risk Management Solution by Cyber Defense Magazine

The Panorays platform protects against third-party breaches, which affect nearly two-thirds of U.S. organizations

NEW YORK, Feb. 24, 2020 — Panorays, a rapidly growing provider of automated third-party lifecycle security management, has been recognized with a 2020 InfoSec Award for Most Innovative Third-Party Risk Management (TPRM) Solution. The 8th Annual InfoSec Awards were announced by Cyber Defense Magazine this week during the RSA Conference in San Francisco.

“We’re thrilled to receive one of the most prestigious and coveted cybersecurity awards from Cyber Defense Magazine. Panorays keeps innovating its platform to provide customers with an easy and intuitive way to manage the entire third-party security lifecycle,” said Matan Or-El, CEO of Panorays. “We are proud to be recognized for enabling business securely.”

“Panorays is building a common cybersecurity language for businesses. It provides an advanced platform for easy engagement over cybersecurity between companies and their vendors, thereby building trust between them,” said Gary S. Miliefsky, publisher of Cyber Defense Magazine.

The Panorays SaaS platform is transforming the way companies securely do business with third parties. Until now, companies performed an arcane process of sending spreadsheet questionnaires for regulation adherence or did not have an established third-party security program. Panorays provides the required visibility and control for companies to build and easily scale their third-party security programs through automation.

By combining smart, customizable questionnaires with a continuous hacker’s view of the evaluated vendor, Panorays enables companies to dramatically speed up their third-party security evaluation process while ensuring that a supplier’s cyber posture is not just evaluated during vetting, but throughout the business relationship. 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.

In the past year, Panorays has:

  • Achieved 400% revenue growth over its previous year
  • Saved companies an average of 94 percent of expenses incurred by their third-party security programs
  • Successfully helped an insurance company onboard 500 vendors in just eight days
  • Been adopted by leading technology, software, financial, healthcare, automotive and retail companies
  • Collaborated with Sompo, one of the leading global insurers, to provide third-party security visibility into their customers

About Panorays
Panorays automates third-party security lifecycle management. With the Panorays platform, companies dramatically speed up their third-party security evaluation process and gain continuous visibility while ensuring compliance to regulations such as GDPR and NYDFS. 

It is the only platform that enables companies to easily view, manage and engage on the security posture of their third parties, vendors, suppliers and business partners. Panorays is a SaaS-based platform, with no installation needed.

For more information, visit www.panorays.com.

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