Wipfli LLP (Wipfli), a top 20 national accounting and consulting firm, announced it has joined the NormShield partner program to expand its current cybersecurity solutions with state-of-the-art, on-demand and standards-based cyber risk scorecards. The enhanced portfolio will provide Wipfli with a powerful tool to improve and reduce the risk associated with its clients’ supply-chain partners, third-party vendor networks and sensitive data.
“Many business leaders understand that cybersecurity is a moving target, and we firmly believe it’s our job to prepare our clients to manage their risk, circumvent potential consequences and protect their bottom line,” said Robert Cedergren, partner in charge of Wipfli’s Risk Advisory Services practice. “Introducing the NormShield product as part of our service suite will allow us to provide a newly comprehensive platform that can assess and manage our clients’ external cyber risk, including those associated with suppliers and third-party vendors.”
According to a recent study conducted by Ponemon Institute, these external cyber risks are some of the most dangerous companies face: The study indicated that more than 56% of companies experienced a third-party breach in 2017 and, according to Cybersecurity Ventures, cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015.
“The NormShield cyber risk scorecard provides an objective, external measure of an organization’s cyber risk posture,” said Mohamoud Jibrell, chief executive officer of NormShield. “We’ve taken a ‘new school’ approach to supply-chain risk monitoring that’s easy to understand and includes online, dynamic risk scorecards with straightforward letter-grades based on defined risk categories. The risks are then prioritized with detailed information on the severity of the risk and through the portal. From there, the NormShield scorecard details how to mitigate and remediate each identified risk.”
NormShield risk scorecards provide easy-to-understand cyber risk information required by risk managers and executive management, while offering detailed technical data and mitigation strategies to frontline engineers and the Wipfli team.
“An extended, unmanaged cyber ecosystem amplifies corporate risk and requires continuous monitoring of all trusted third-party partners if the network and its assets are to be secured by outsourcing providers, suppliers, customers, third-party distributors and joint ventures,” Jibrell added.
As recognized thought leaders in the cybersecurity space, Wipfli is committed to protecting businesses and their people from malicious threats, hackers and fraud, especially in today’s ever-changing cyber landscape. The firm’s Risk Advisory Services practice has worked diligently to identify and provide solutions that help businesses proactively manage and mitigate mounting digital threats. Through its relationship with NormShield, Wipfli will leverage the company’s ability to gather data in a non-intrusive way, classify the data into security risk categories, apply advanced algorithms to analyze and convert data into risk intelligence, generate easy-to-understand scorecards and dashboards, and provide detailed remediation steps to secure the networks from outside attack.
“NormShield is excited to welcome Wipfli to our partner program and to provide comprehensive security risk scorecards and continuous monitoring to their clients,” said Jibrell.
NormShield enables enterprises to assess and monitor their own and their supply chain’s external cyber risk posture by performing non-intrusive cyber risk assessments and converting the data into the form of a scorecard. The NormShield cyber risk scorecards provide easy-to-understand dashboards for executives and detailed technical data and mitigation strategies for frontline engineers. With NormShield, organizations are able to perform non-intrusive cyber risk assessments to ascertain what hackers already know about them and their third-party partners. NormShield’s unique benchmarking capabilities allow companies to compare their cyber risk posture to industry peers. Learn more at NormShield.com.