• Cyber-threats are increasing with the transformation of digital life in the wake of the pandemic.
• A risk-based approach is needed to safeguard the software and systems that underlie digital supply chains.
• The procurement process, third-party agreements and source code are areas of concern.
The ongoing digital transformation has opened up a whole new way of living and working. As deeper performance insights and new levels of connectivity allow businesses to reap the benefits of breakthrough technologies, the world is becoming faster, more flexible and more efficient. This shift is creating a global ecosystem where physical and digital things are increasingly connected, from critical infrastructure assets to people and data.
A study by Gartner finds that in 2019, 60% of organizations worked with more than 1,000 third parties, and those networks are only expected to grow. Other research by Deloitte shows that 40% of manufacturers had their operations affected by a cyber-incident during 2019. And in 2018, the average financial impact of a data breach in the manufacturing industry was $7.5 million.
Moreover, global technology supply…
