‍ The global economic situation is far from encouraging. The IMF’s World Economic Outlook predicts growth will again fall by 3% in 2024 as central banks continue to fight inflation. Businesses throughout all industries are expected to tighten their budgets for the upcoming year, scrutinizing and slashing spending across departments. ‍ At the same time, recent research reveals that the global cost of cyber attacks is expected to reach $10.5 trillion annually.

Working with third-party service providers is part of doing business. Even before the digital revolution, entrepreneurs enlisted logistics and shipping providers, payment processing services, and other outsourced companies to help them streamline operations and reduce costs. ‍ Today's marketplace is no different, although the available third parties have evolved to fit organizations' growing digital needs.

In merely a few decades, technological pioneers developed an unprecedented ability for society to access and store data in immeasurable quantities. This newfound power transformed many aspects of the physical world into a digital one, taking everyday activities such as banking, gaming, shopping, and socializing online.

Kovrr has been recognized in the Gartner Hype Cycle for Cyber Risk Management this year. We believe this recognition serves as a testament to our commitment to empowering enterprise decision-makers to manage cyber exposure more effectively with in-depth risk analyses. ‍