Hellios is a shared assurance provider used by a range of businesses, however, that doesn’t mean it’s right for everyone.
Security teams/CISOs across the world see Risk Ledger as a better alternative to help them gain a real-time, comprehensive understanding of their third-party security.
Point in time vs continuous assessment
Hellios and other shared assurance providers operate a point-in-time questionnaire system. The main issue with this, is the security questionnaire is only relevant for that moment, anything can change over the following months and as soon as it does, the information is incorrect.
Risk Ledger continuously assesses your vendors' security. If a supplier increases its security or no longer reaches your requirements you’ll be notified. This allows you to see the state of play for all your suppliers’ internal security controls, lifting the lid on cybersecurity risk.
It’s not uncommon for shared assurance providers to charge on a per-assessment basis, which makes scaling your third-party risk management program extremely costly. Our research found that you could be paying anywhere between £825 and £1,650 per supplier.
With Risk Ledger, you pay a single annual licence for full access to the platform. From here, you can add and connect with all your suppliers, apply custom labels and policies, and begin to map out your Supplier Ecosystem.
You can connect to your supplier base in 5 minutes. Risk Ledger works like a social network for security, simply open the app and quickly connect to the 3000+ organisations that are already on our system to see their internal security. Last quarter we had over 80% of our suppliers actively using the platform.
Supplier not using Risk Ledger? Put in the email address of your main contact and we’ll do the rest, it takes us on average 10 working days to onboard a supplier!
Ability to visualise beyond third parties
You’ve got suppliers. Your suppliers also have suppliers as well as other clients. Our network visualisation graph automatically maps the connections across your third parties, fourth parties and nth parties.
Use Risk Ledger to map out your extended supply chain connections and effortlessly identify and mitigate concentration risks in real-time.
Communicate and remediate in real-time
Companies like Hellios work as a middleman between you and the supplier, severely hindering your ability to remediate or discuss controls with your suppliers.
Alternatively, with Risk Ledger, if you have a question about anything to do with your suppliers’ security all you have to do is open the discussion panel and leave your question. Your query will be sent directly to the person responsible.
Book your free trial
We’re so confident in our ability to deliver the best Third Party Risk Management experience that we’re willing to let you try the platform for free. Sign up for your free trial now: