3 Steps to Automate Your Third-Party Risk Management Program
Feb 22, 2023
Cyber Risk Management
If you Google "third-party data breaches" you will find many recent reports of data breaches that were either caused by an attack at a third party or sensitive information stored at a third-party location was exposed. Third-party data breaches don't discriminate by industry because almost every company is operating with some sort of vendor relationship – whether it be a business partner, contractor or reseller, or the use of IT software or platform, or another service provider. Organizations are now sharing data with an average of 730 third-party vendors, according to a report by Osano , and with the acceleration of digital transformation, that number will only grow. The Importance of Third-Party Risk Management With more organizations sharing data with more third-party vendors, it shouldn't be surprising that more than 50% of security incidents in the past two years have stemmed from a third-party with access privileges, according to a CyberRisk Alliance report....
