The move powers the company’s global expansion into the supply chain and vendor risk management market offering corporations the ability to calculate their tailored financial cyber exposure to 3rd party relationships.
Passerini has over 35 years of IT management experience, and currently serves on the board of multiple traded companies including United Rentals and Integer. At Procter & Gamble, Passerini powered the Global Business Services of the consumer goods giant with innovative models and capabilities. His strategies, principles and ideas have been the subject of numerous books, articles, and Harvard Business Review publications.
“I have been following Cyberwrite’s evolution for some time, and I am excited to support this team of innovators. As a CIO, I have seen first-hand the challenges organizations are facing with cyber risk and the impact it has on business. This platform is a game-changer that enables organizations to assess vendor risks in financial terms, not just scores,” said Passerini.
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“We are thrilled to have a top executive of such magnitude joining Cyberwrite,” said Nir Perry, CEO of Cyberwrite. “Filippo brings decades of experience in IT, data science, innovation, and corporate risk management.”
“Many companies struggle with quantifying cyber risk caused by 3rd party relationships due to the use of generic risk scores. This is further compounded by the fact that the same vendor may pose a different risk to different organizations but is scored the same by security risk scoring companies. Using Cyberwrite, companies can quantify risk in financial terms they can understand and act upon, as well as getting a tailored risk analysis for each 3rd party relationship. Generic security scores leave organizations in the dark with regard to business impact and Cyberwrite solves exactly that. Insurance companies have been using our award-winning financial risk models for several years worldwide. We have now made these models available to corporates to enable better 3rd party risk management,” says Perry.
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Cyberwrite’s solution enables risk managers to make sense of an immense amount of data related to 3rd parties in an automated manner and to sort the risk according to potential financial damage that may be caused to its operations. The platform is intuitive to use, requires zero-integration, and provides risk benchmarking based on both external and internal data, as well as inherent and residual financial risk analysis of companies worldwide.
