BlueVoyant has released its fifth annual global survey into supply chain cyber risk management, indicating progress in third-party risk management while breaches persist.
The 2024 study from the cyber defence company highlights a shift among organisations from awareness and adoption of third-party risk management (TPRM) to enforcement and compliance efforts.
Despite these advancements, the report shows that 81% of organisations experienced negative impacts from supply chain breaches over the past year, a decrease from 94% in 2023. This suggests most organisations continue to report breaches.
“More organisations than any previous year indicated that their primary focus is no longer on awareness of the third-party risk management problem or adoption of a program, but rather with the operational, day-to-day challenges of managing an effective program,” said Joel Molinoff, Global Head of Supply Chain Defense at BlueVoyant.
“While this progress also brings many new challenges, it indicates a major step in the right direction when contrasted with previous years where many organisations had poor tracking of third-party vendors, little to no leadership oversight, and…
