Category: Third Party Risk Management

To protect companies from threats, a keen understanding of third-party risk management regulations is essential. It can help decision-makers make fully informed choices for the welfare of the company.

(more…)

Third-party vendor management policy is perhaps the most underrated component to a mature cybersecurity strategy. Last year, Becker’s Hospital IT reported startling statistics:

(more…)

Performing a cybersecurity audit of your third-party vendors and partners is critical to ensure they’re taking proper measures to protect your data when it’s in their hands.  (more…)

The regulatory landscape seems to be continuously bringing down the hammer with new, seemingly restrictive legislation. We have come to a point where a change in mindset is required, where a robust risk management strategy becomes the strength of the organization and not a requirement.

(more…)

Vendor related cyber risks are quickly becoming a major contributing factor to data breaches and cyberattacks worldwide. The way business is conducted today often requires little interaction but has massive networks. The coupling of these extensive networks and outsourcing potentials can leave organizations in the dark about their suppliers and partners’ cybersecurity capabilities. In this article, we will discuss some of the top cyber threats that your organization can mitigate using  third-party security risk assessment.

(more…)

In today’s world, many businesses are mobilizing their workforces. More and more services are being outsourced to external organizations, and it’s no different in healthcare. But that process also entails many risks, as even the most careful company often can’t account for every loophole in its vendors’ defenses. That’s why third party risk management in healthcare is absolutely vital for everyone.

(more…)

In our increasingly global and interconnected world, businesses’ workforces and networks become more mobile and diverse every day. Whereas outsourcing various tasks related to management and security was seldom seen years ago, it is now the norm. That’s why, in today’s climate, third-party risk management solutions are a must for every business.

(more…)

Integrating cybersecurity best practices has become an essential aspect of the information and communication technology (ICT) supply chain. There is a growing cyber risk associated with dealing with vendors that are not adequately vetted or audited for their cybersecurity capabilities. The National Institute of Standard and Technology (NIST) have devised a series of frameworks for cybersecurity best practice. 

(more…)

Third-party vendors and suppliers play an important role in a business’s success. As part of the supply chain, whether it’s services or goods, companies rely on their third-party partners. This often results in a chain of connections between the business and supplier that hackers can potentially exploit. A cybersecurity breach can disrupt the supply chain, and also result in non-compliance fines and penalties.

(more…)

Businesses rely on their third-party suppliers to deliver products or services on time, while also keeping costs down and improving profitability. However, as beneficial as third-party relationships are to the organization, it does come with risks. These include security breaches and data thefts that often result in non-compliance penalties and loss of consumer trust. Supply chains can also be interrupted.

(more…)